LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 6, 2009 TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1620 by Wentworth (Relating to the regulation of property tax lenders.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend Chapter 351 of the Finance Code so that after a hearing, the commissioner may determine an affiliated business arrangement not suitable. Also, the bill would add sections relating to the commissioner's examination of and access to records of property tax lenders. Based on the analysis of the Office of Consumer Credit, the Department of Banking, and the Department of Savings and Mortgage Lending, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner LBB Staff: JOB, JRO, MW, ACa
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 6, 2009
TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1620 by Wentworth (Relating to the regulation of property tax lenders.), As Introduced
TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB1620 by Wentworth (Relating to the regulation of property tax lenders.), As Introduced
Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
SB1620 by Wentworth (Relating to the regulation of property tax lenders.), As Introduced
SB1620 by Wentworth (Relating to the regulation of property tax lenders.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Chapter 351 of the Finance Code so that after a hearing, the commissioner may determine an affiliated business arrangement not suitable. Also, the bill would add sections relating to the commissioner's examination of and access to records of property tax lenders. Based on the analysis of the Office of Consumer Credit, the Department of Banking, and the Department of Savings and Mortgage Lending, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill would amend Chapter 351 of the Finance Code so that after a hearing, the commissioner may determine an affiliated business arrangement not suitable. Also, the bill would add sections relating to the commissioner's examination of and access to records of property tax lenders.
Based on the analysis of the Office of Consumer Credit, the Department of Banking, and the Department of Savings and Mortgage Lending, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner
450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner
LBB Staff: JOB, JRO, MW, ACa
JOB, JRO, MW, ACa