LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 21, 2009 TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB345 by Elkins (Relating to a business's duty to protect sensitive personal information contained in its customer records. ), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Business and Commerce Code relating to the protection of personal information in customer records by businesses that use access devices. The bill would authorize the Attorney General to obtain actual damages on behalf of a financial institution for actual damages and costs suffered as a result of a security breach linked to a failure to reasonably protect information derived from an access device. Based on information provided by the Department of Banking, Office of Consumer Credit, Department of Savings and Mortgage Lending, Credit Union Department, Attorney General, and Office of Court Administration, it is assumed that costs associated with implementing the provisions of the bill could be absorbed within existing resources. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:302 Office of the Attorney General, 212 Office of Court Administration, Texas Judicial Council, 450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner, 469 Credit Union Department LBB Staff: JOB, JRO, MW, ACa
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 21, 2009
TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB345 by Elkins (Relating to a business's duty to protect sensitive personal information contained in its customer records. ), Committee Report 1st House, Substituted
TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB345 by Elkins (Relating to a business's duty to protect sensitive personal information contained in its customer records. ), Committee Report 1st House, Substituted
Honorable Joe Deshotel, Chair, House Committee on Business & Industry
Honorable Joe Deshotel, Chair, House Committee on Business & Industry
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB345 by Elkins (Relating to a business's duty to protect sensitive personal information contained in its customer records. ), Committee Report 1st House, Substituted
HB345 by Elkins (Relating to a business's duty to protect sensitive personal information contained in its customer records. ), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Business and Commerce Code relating to the protection of personal information in customer records by businesses that use access devices. The bill would authorize the Attorney General to obtain actual damages on behalf of a financial institution for actual damages and costs suffered as a result of a security breach linked to a failure to reasonably protect information derived from an access device. Based on information provided by the Department of Banking, Office of Consumer Credit, Department of Savings and Mortgage Lending, Credit Union Department, Attorney General, and Office of Court Administration, it is assumed that costs associated with implementing the provisions of the bill could be absorbed within existing resources.
The bill would amend the Business and Commerce Code relating to the protection of personal information in customer records by businesses that use access devices. The bill would authorize the Attorney General to obtain actual damages on behalf of a financial institution for actual damages and costs suffered as a result of a security breach linked to a failure to reasonably protect information derived from an access device.
Based on information provided by the Department of Banking, Office of Consumer Credit, Department of Savings and Mortgage Lending, Credit Union Department, Attorney General, and Office of Court Administration, it is assumed that costs associated with implementing the provisions of the bill could be absorbed within existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 302 Office of the Attorney General, 212 Office of Court Administration, Texas Judicial Council, 450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner, 469 Credit Union Department
302 Office of the Attorney General, 212 Office of Court Administration, Texas Judicial Council, 450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner, 469 Credit Union Department
LBB Staff: JOB, JRO, MW, ACa
JOB, JRO, MW, ACa