LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION April 2, 2025 TO: Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB2056 by Hancock (Relating to unlawful practices relating to credit card transactions; providing a civil penalty.), As Introduced No significant fiscal implication to the State is anticipated. The bill would impose restrictions on certain credit card companies and add reporting requirements. The bill would allow the Office of the Attorney General to file suit against companies for violating the provisions of the bill and impose civil penalties.It is assumed that any costs associated with the bill could be absorbed using existing resources.Although creating new civil penalties could result in an increase in revenue, the fiscal impact cannot be determined as the number of cases of noncompliant behavior resulting in a civil penalty cannot be estimated. Local Government ImpactNo significant fiscal implication to units of local government is anticipated. Source Agencies: b > td > 212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 466 Office of Consumer Credit Commissioner LBB Staff: b > td > JMc, RStu, LCO, JKe
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION
April 2, 2025
TO: Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB2056 by Hancock (Relating to unlawful practices relating to credit card transactions; providing a civil penalty.), As Introduced
TO: Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB2056 by Hancock (Relating to unlawful practices relating to credit card transactions; providing a civil penalty.), As Introduced
Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SB2056 by Hancock (Relating to unlawful practices relating to credit card transactions; providing a civil penalty.), As Introduced
SB2056 by Hancock (Relating to unlawful practices relating to credit card transactions; 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 impose restrictions on certain credit card companies and add reporting requirements. The bill would allow the Office of the Attorney General to file suit against companies for violating the provisions of the bill and impose civil penalties.It is assumed that any costs associated with the bill could be absorbed using existing resources.Although creating new civil penalties could result in an increase in revenue, the fiscal impact cannot be determined as the number of cases of noncompliant behavior resulting in a civil penalty cannot be estimated.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 466 Office of Consumer Credit Commissioner
212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 466 Office of Consumer Credit Commissioner
LBB Staff: b > td > JMc, RStu, LCO, JKe
JMc, RStu, LCO, JKe