LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION February 8, 2013 TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB60 by Nelson (Relating to the authority of a parent or legal guardian to establish a consumer file for a child and act on the child's behalf with a consumer reporting agency.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Business and Commerce Code to provide that a parent of a child less than 16 years of age may request a consumer reporting agency establish and maintain a consumer file for that child; recognize the parents authority to act on behalf of the child; provide that a security alert or freeze be placed on the childs credit file; and prohibit a parent that has had parental rights terminated by the courts from establishing a credit file on behalf of the child. The Office of the Attorney General has determined that the bill would not result in a significant fiscal impact to the State and could be absorbed within existing resources. The fiscal impact 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 impact for the agency would be realized outside of the Treasury due to the agency being Self-Directed and Semi-Independent. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:302 Office of the Attorney General LBB Staff: UP, RB, EP, JM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
February 8, 2013
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB60 by Nelson (Relating to the authority of a parent or legal guardian to establish a consumer file for a child and act on the child's behalf with a consumer reporting agency.), As Introduced
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB60 by Nelson (Relating to the authority of a parent or legal guardian to establish a consumer file for a child and act on the child's behalf with a consumer reporting agency.), As Introduced
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
SB60 by Nelson (Relating to the authority of a parent or legal guardian to establish a consumer file for a child and act on the child's behalf with a consumer reporting agency.), As Introduced
SB60 by Nelson (Relating to the authority of a parent or legal guardian to establish a consumer file for a child and act on the child's behalf with a consumer reporting agency.), 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 Business and Commerce Code to provide that a parent of a child less than 16 years of age may request a consumer reporting agency establish and maintain a consumer file for that child; recognize the parents authority to act on behalf of the child; provide that a security alert or freeze be placed on the childs credit file; and prohibit a parent that has had parental rights terminated by the courts from establishing a credit file on behalf of the child. The Office of the Attorney General has determined that the bill would not result in a significant fiscal impact to the State and could be absorbed within existing resources. The fiscal impact 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 impact for the agency would be realized outside of the Treasury due to the agency being Self-Directed and Semi-Independent.
The bill would amend the Business and Commerce Code to provide that a parent of a child less than 16 years of age may request a consumer reporting agency establish and maintain a consumer file for that child; recognize the parents authority to act on behalf of the child; provide that a security alert or freeze be placed on the childs credit file; and prohibit a parent that has had parental rights terminated by the courts from establishing a credit file on behalf of the child. The Office of the Attorney General has determined that the bill would not result in a significant fiscal impact to the State and could be absorbed within existing resources.
The fiscal impact 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 impact for the agency would be realized outside of the Treasury due to the agency being Self-Directed and Semi-Independent.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 302 Office of the Attorney General
302 Office of the Attorney General
LBB Staff: UP, RB, EP, JM
UP, RB, EP, JM