LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION April 24, 2017 TO: Honorable Tan Parker, Chair, House Committee on Investments & Financial Services FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB975 by Giddings (Relating to the threat or pursuit of criminal charges against a consumer in association with certain extensions of consumer credit; providing a civil penalty.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Finance Code to prohibit a credit services organization from filing a criminal complaint against a consumer or threaten to refer a consumer for prosecution unless it has extrinsic evidence sufficient to prove the offense. The bill would provide a civil penalty for violation of the provisions of the bill.The Office of the Attorney General and the Office of Consumer Credit Commissioner anticipates any additional work resulting from the passage of the bill could be reasonably absorbed within current resources. The bill would take effect September 1, 2017. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:302 Office of the Attorney General, 466 Office of Consumer Credit Commissioner LBB Staff: UP, CL, JSm, EK
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
April 24, 2017
TO: Honorable Tan Parker, Chair, House Committee on Investments & Financial Services FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB975 by Giddings (Relating to the threat or pursuit of criminal charges against a consumer in association with certain extensions of consumer credit; providing a civil penalty.), As Introduced
TO: Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB975 by Giddings (Relating to the threat or pursuit of criminal charges against a consumer in association with certain extensions of consumer credit; providing a civil penalty.), As Introduced
Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB975 by Giddings (Relating to the threat or pursuit of criminal charges against a consumer in association with certain extensions of consumer credit; providing a civil penalty.), As Introduced
HB975 by Giddings (Relating to the threat or pursuit of criminal charges against a consumer in association with certain extensions of consumer credit; providing a civil penalty.), 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 Finance Code to prohibit a credit services organization from filing a criminal complaint against a consumer or threaten to refer a consumer for prosecution unless it has extrinsic evidence sufficient to prove the offense. The bill would provide a civil penalty for violation of the provisions of the bill.The Office of the Attorney General and the Office of Consumer Credit Commissioner anticipates any additional work resulting from the passage of the bill could be reasonably absorbed within current resources. The bill would take effect September 1, 2017.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 302 Office of the Attorney General, 466 Office of Consumer Credit Commissioner
302 Office of the Attorney General, 466 Office of Consumer Credit Commissioner
LBB Staff: UP, CL, JSm, EK
UP, CL, JSm, EK