LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION February 13, 2013 TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB289 by Carona (Relating to the approval requirement for a rental-purchase agreement that includes a loss damage waiver provision.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Business & Commerce Code relating to the approval requirement for a rental-purchase agreement that includes a loss damage waiver provision. The bill would eliminate the requirement that rental purchase agreements with loss damage waiver provisions be registered with the Department of Licensing and Regulation. Based on information provided by the Department of Licensing and Regulation, it is assumed that a revenue loss would be realized with the implementation of the bill; however, it is also assumed that the amount of revenue lost from the licensing and administrative penalty collections of approximately 57 licenses each year would be insignificant. The Office of the Attorney General (OAG) anticipates that the proposed legislation may result in new complaints, investigations and cases by the OAG Consumer Protection Division; however, it is assumed that any additional workload could be absorbed within current resources based on information provided by the OAG. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:302 Office of the Attorney General, 304 Comptroller of Public Accounts, 452 Department of Licensing and Regulation LBB Staff: UP, RB, ER, MW, CWS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
February 13, 2013
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB289 by Carona (Relating to the approval requirement for a rental-purchase agreement that includes a loss damage waiver provision.), Committee Report 1st House, Substituted
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB289 by Carona (Relating to the approval requirement for a rental-purchase agreement that includes a loss damage waiver provision.), Committee Report 1st House, Substituted
Honorable John Carona, Chair, Senate Committee on Business & Commerce
Honorable John Carona, Chair, Senate Committee on Business & Commerce
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB289 by Carona (Relating to the approval requirement for a rental-purchase agreement that includes a loss damage waiver provision.), Committee Report 1st House, Substituted
SB289 by Carona (Relating to the approval requirement for a rental-purchase agreement that includes a loss damage waiver provision.), 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 Business & Commerce Code relating to the approval requirement for a rental-purchase agreement that includes a loss damage waiver provision. The bill would eliminate the requirement that rental purchase agreements with loss damage waiver provisions be registered with the Department of Licensing and Regulation. Based on information provided by the Department of Licensing and Regulation, it is assumed that a revenue loss would be realized with the implementation of the bill; however, it is also assumed that the amount of revenue lost from the licensing and administrative penalty collections of approximately 57 licenses each year would be insignificant. The Office of the Attorney General (OAG) anticipates that the proposed legislation may result in new complaints, investigations and cases by the OAG Consumer Protection Division; however, it is assumed that any additional workload could be absorbed within current resources based on information provided by the OAG.
The bill would amend the Business & Commerce Code relating to the approval requirement for a rental-purchase agreement that includes a loss damage waiver provision. The bill would eliminate the requirement that rental purchase agreements with loss damage waiver provisions be registered with the Department of Licensing and Regulation.
Based on information provided by the Department of Licensing and Regulation, it is assumed that a revenue loss would be realized with the implementation of the bill; however, it is also assumed that the amount of revenue lost from the licensing and administrative penalty collections of approximately 57 licenses each year would be insignificant.
The Office of the Attorney General (OAG) anticipates that the proposed legislation may result in new complaints, investigations and cases by the OAG Consumer Protection Division; however, it is assumed that any additional workload could be absorbed within current resources based on information provided by the OAG.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 452 Department of Licensing and Regulation
302 Office of the Attorney General, 304 Comptroller of Public Accounts, 452 Department of Licensing and Regulation
LBB Staff: UP, RB, ER, MW, CWS
UP, RB, ER, MW, CWS