LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION March 2, 2011 TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB763 by Ellis (Relating to the designation of certain areas as banking development districts to encourage the establishment of financial institution branches in those areas.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Finance Code by adding Chapter 279, Banking Development Districts, and would allow for the designation of certain areas as banking development districts to encourage the establishment of financial institution branches in those areas. Based on the analysis of the Office of the Governor and the Comptroller of Public Accounts it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Costs associated with the implementation of the bill for the Office of the Consumer Credit Commissioner, the Department of Banking, the Department of Savings and Mortgage Lending and the Credit Union Department are not considered in this analysis because fiscal impacts for these agencies would be realized outside of the Treasury due to these agencies being Self-Directed and Semi-Independent. Local Government Impact It is assumed that a local government would submit an application for the designation of a banking development district only if funding and partnership opportunities were available. Source Agencies:301 Office of the Governor, 304 Comptroller of Public Accounts, 450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner, 469 Credit Union Department LBB Staff: JOB, AG, MW, RAN
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
March 2, 2011
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB763 by Ellis (Relating to the designation of certain areas as banking development districts to encourage the establishment of financial institution branches in those areas.), Committee Report 1st House, Substituted
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SB763 by Ellis (Relating to the designation of certain areas as banking development districts to encourage the establishment of financial institution branches in those areas.), Committee Report 1st House, Substituted
Honorable John Carona, Chair, Senate Committee on Business & Commerce
Honorable John Carona, Chair, Senate Committee on Business & Commerce
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
SB763 by Ellis (Relating to the designation of certain areas as banking development districts to encourage the establishment of financial institution branches in those areas.), Committee Report 1st House, Substituted
SB763 by Ellis (Relating to the designation of certain areas as banking development districts to encourage the establishment of financial institution branches in those areas.), 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 Finance Code by adding Chapter 279, Banking Development Districts, and would allow for the designation of certain areas as banking development districts to encourage the establishment of financial institution branches in those areas. Based on the analysis of the Office of the Governor and the Comptroller of Public Accounts it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Costs associated with the implementation of the bill for the Office of the Consumer Credit Commissioner, the Department of Banking, the Department of Savings and Mortgage Lending and the Credit Union Department are not considered in this analysis because fiscal impacts for these agencies would be realized outside of the Treasury due to these agencies being Self-Directed and Semi-Independent.
The bill would amend the Finance Code by adding Chapter 279, Banking Development Districts, and would allow for the designation of certain areas as banking development districts to encourage the establishment of financial institution branches in those areas. Based on the analysis of the Office of the Governor and the Comptroller of Public Accounts it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Costs associated with the implementation of the bill for the Office of the Consumer Credit Commissioner, the Department of Banking, the Department of Savings and Mortgage Lending and the Credit Union Department are not considered in this analysis because fiscal impacts for these agencies would be realized outside of the Treasury due to these agencies being Self-Directed and Semi-Independent.
Local Government Impact
It is assumed that a local government would submit an application for the designation of a banking development district only if funding and partnership opportunities were available.
Source Agencies: 301 Office of the Governor, 304 Comptroller of Public Accounts, 450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner, 469 Credit Union Department
301 Office of the Governor, 304 Comptroller of Public Accounts, 450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner, 469 Credit Union Department
LBB Staff: JOB, AG, MW, RAN
JOB, AG, MW, RAN