LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION May 3, 2013 TO: Honorable Tryon D. Lewis, Chair, House Committee on Judiciary & Civil Jurisprudence FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1595 by Miller, Doug (Relating to litigation financing transactions; authorizing the imposition of a fee.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Finance Code to require any plaintiff to produce a consumer lending lawsuit transaction to the opposing party in a civil action. The bill would require that a litigation financing company obtain a license from the Office of Consumer Credit Commissioner. The Office of Court Administration and the Office of the Attorney General have indicated that any cost associated with the bill could be absorbed within existing resources. The fiscal impacts that may be generated in association with implementing the provisions of the bill for the Office of the Consumer Credit Commissioner are not considered in this analysis because any fiscal impacts for the agency would be realized outside of the Treasury due to the agency being Self-Directed and Semi-Independent. The provision of the bill that requires that a litigation financing company must obtain a license from the Office of Consumer Credit Commissioner takes effect on January 1, 2014. The other provisions of the bill take effect September 1, 2013. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 466 Office of Consumer Credit Commissioner LBB Staff: UP, KKR, CL, EP, JM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
May 3, 2013
TO: Honorable Tryon D. Lewis, Chair, House Committee on Judiciary & Civil Jurisprudence FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1595 by Miller, Doug (Relating to litigation financing transactions; authorizing the imposition of a fee.), Committee Report 1st House, Substituted
TO: Honorable Tryon D. Lewis, Chair, House Committee on Judiciary & Civil Jurisprudence
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB1595 by Miller, Doug (Relating to litigation financing transactions; authorizing the imposition of a fee.), Committee Report 1st House, Substituted
Honorable Tryon D. Lewis, Chair, House Committee on Judiciary & Civil Jurisprudence
Honorable Tryon D. Lewis, Chair, House Committee on Judiciary & Civil Jurisprudence
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB1595 by Miller, Doug (Relating to litigation financing transactions; authorizing the imposition of a fee.), Committee Report 1st House, Substituted
HB1595 by Miller, Doug (Relating to litigation financing transactions; authorizing the imposition of a fee.), 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 to require any plaintiff to produce a consumer lending lawsuit transaction to the opposing party in a civil action. The bill would require that a litigation financing company obtain a license from the Office of Consumer Credit Commissioner. The Office of Court Administration and the Office of the Attorney General have indicated that any cost associated with the bill could be absorbed within existing resources. The fiscal impacts that may be generated in association with implementing the provisions of the bill for the Office of the Consumer Credit Commissioner are not considered in this analysis because any fiscal impacts for the agency would be realized outside of the Treasury due to the agency being Self-Directed and Semi-Independent. The provision of the bill that requires that a litigation financing company must obtain a license from the Office of Consumer Credit Commissioner takes effect on January 1, 2014. The other provisions of the bill take effect September 1, 2013.
The bill would amend the Finance Code to require any plaintiff to produce a consumer lending lawsuit transaction to the opposing party in a civil action. The bill would require that a litigation financing company obtain a license from the Office of Consumer Credit Commissioner. The Office of Court Administration and the Office of the Attorney General have indicated that any cost associated with the bill could be absorbed within existing resources.
The fiscal impacts that may be generated in association with implementing the provisions of the bill for the Office of the Consumer Credit Commissioner are not considered in this analysis because any fiscal impacts for the agency would be realized outside of the Treasury due to the agency being Self-Directed and Semi-Independent.
The provision of the bill that requires that a litigation financing company must obtain a license from the Office of Consumer Credit Commissioner takes effect on January 1, 2014. The other provisions of the bill take effect September 1, 2013.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 466 Office of Consumer Credit Commissioner
212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 466 Office of Consumer Credit Commissioner
LBB Staff: UP, KKR, CL, EP, JM
UP, KKR, CL, EP, JM