LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION March 7, 2011 TO: Honorable Wayne Smith, Chair, House Committee on Environmental Regulation FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB1242 by Geren (Relating to the regulation of certain metal dealers; providing criminal penalties.), As Introduced No significant fiscal implication to the State is anticipated. The bill would require metal recycling entities to collect additional information from an individual selling valuable metal material to the entity. The bill would require dealers who engage in the business of purchasing and selling crafted precious metal to retain certain crafted precious metal items subject to reporting requirements for 21 days after the report is filed unless authorized to dispose of the item. The bill provides that a crafted precious metals dealer may pay for a purchase of crafted precious metal only by check, and the names of the dealer and seller must be printed on the check. It is assumed that the bill would not result in a significant fiscal impact on the programs and workload of state agencies. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:405 Department of Public Safety LBB Staff: JOB, SZ, GG, DH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
March 7, 2011
TO: Honorable Wayne Smith, Chair, House Committee on Environmental Regulation FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB1242 by Geren (Relating to the regulation of certain metal dealers; providing criminal penalties.), As Introduced
TO: Honorable Wayne Smith, Chair, House Committee on Environmental Regulation
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: HB1242 by Geren (Relating to the regulation of certain metal dealers; providing criminal penalties.), As Introduced
Honorable Wayne Smith, Chair, House Committee on Environmental Regulation
Honorable Wayne Smith, Chair, House Committee on Environmental Regulation
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
HB1242 by Geren (Relating to the regulation of certain metal dealers; providing criminal penalties.), As Introduced
HB1242 by Geren (Relating to the regulation of certain metal dealers; providing criminal penalties.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would require metal recycling entities to collect additional information from an individual selling valuable metal material to the entity. The bill would require dealers who engage in the business of purchasing and selling crafted precious metal to retain certain crafted precious metal items subject to reporting requirements for 21 days after the report is filed unless authorized to dispose of the item. The bill provides that a crafted precious metals dealer may pay for a purchase of crafted precious metal only by check, and the names of the dealer and seller must be printed on the check. It is assumed that the bill would not result in a significant fiscal impact on the programs and workload of state agencies.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 405 Department of Public Safety
405 Department of Public Safety
LBB Staff: JOB, SZ, GG, DH
JOB, SZ, GG, DH