LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION May 4, 2009 TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1704 by Estes (Relating to the composition of the Finance Commission of Texas.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Finance Code to require members of the Finance Commission to serve staggered six-year terms and to require three members of the Finance Commission to be banking executives, increasing the number of members on the commission from nine to eleven members. Based on information provided by the Department of Banking, the Department of Savings and Mortgage Lending, and the Office of Consumer Credit Commissioner, 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
May 4, 2009
TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1704 by Estes (Relating to the composition of the Finance Commission of Texas.), As Introduced
TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB1704 by Estes (Relating to the composition of the Finance Commission of Texas.), 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
SB1704 by Estes (Relating to the composition of the Finance Commission of Texas.), As Introduced
SB1704 by Estes (Relating to the composition of the Finance Commission of Texas.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Finance Code to require members of the Finance Commission to serve staggered six-year terms and to require three members of the Finance Commission to be banking executives, increasing the number of members on the commission from nine to eleven members. Based on information provided by the Department of Banking, the Department of Savings and Mortgage Lending, and the Office of Consumer Credit Commissioner, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill would amend the Finance Code to require members of the Finance Commission to serve staggered six-year terms and to require three members of the Finance Commission to be banking executives, increasing the number of members on the commission from nine to eleven members.
Based on information provided by the Department of Banking, the Department of Savings and Mortgage Lending, and the Office of Consumer Credit Commissioner, 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