LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 12, 2021 TO: Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB4477 by Thompson, Senfronia (Relating to the financial exploitation of certain vulnerable adults.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Finance Code to allow a financial institution to place a hold on a transaction involving an account of a vulnerable adult in certain circumstances. The bill would amend Government Code and the Securities Act, to allow a dealer or investment adviser to place a hold on a transaction involving an account of a vulnerable adult in certain circumstances. The amendment to Government Code would take effect January 1, 2022. Unless otherwise specified, the bill would take effect September 1, 2021. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 312 Securities Board, 407 Law Enforcement, 530 Family & Protective Services LBB Staff: b > td > JMc, AAL, JLI, AN
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 12, 2021
TO: Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB4477 by Thompson, Senfronia (Relating to the financial exploitation of certain vulnerable adults.), As Introduced
TO: Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB4477 by Thompson, Senfronia (Relating to the financial exploitation of certain vulnerable adults.), As Introduced
Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services
Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB4477 by Thompson, Senfronia (Relating to the financial exploitation of certain vulnerable adults.), As Introduced
HB4477 by Thompson, Senfronia (Relating to the financial exploitation of certain vulnerable adults.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Finance Code to allow a financial institution to place a hold on a transaction involving an account of a vulnerable adult in certain circumstances. The bill would amend Government Code and the Securities Act, to allow a dealer or investment adviser to place a hold on a transaction involving an account of a vulnerable adult in certain circumstances. The amendment to Government Code would take effect January 1, 2022. Unless otherwise specified, the bill would take effect September 1, 2021.
The bill would amend Government Code and the Securities Act, to allow a dealer or investment adviser to place a hold on a transaction involving an account of a vulnerable adult in certain circumstances. The amendment to Government Code would take effect January 1, 2022.
Unless otherwise specified, the bill would take effect September 1, 2021.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 312 Securities Board, 407 Law Enforcement, 530 Family & Protective Services
312 Securities Board, 407 Law Enforcement, 530 Family & Protective Services
LBB Staff: b > td > JMc, AAL, JLI, AN
JMc, AAL, JLI, AN