LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION May 15, 2021 TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB4477 by Thompson, Senfronia (Relating to the financial exploitation of certain vulnerable adults.), As Engrossed 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, SZ, AN, AAL, JLI
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
May 15, 2021
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB4477 by Thompson, Senfronia (Relating to the financial exploitation of certain vulnerable adults.), As Engrossed
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB4477 by Thompson, Senfronia (Relating to the financial exploitation of certain vulnerable adults.), As Engrossed
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
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 Engrossed
HB4477 by Thompson, Senfronia (Relating to the financial exploitation of certain vulnerable adults.), As Engrossed
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, SZ, AN, AAL, JLI
JMc, SZ, AN, AAL, JLI