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LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
May 18, 2021
TO:
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB3617 by Anchia (Relating to certain qualifications and requirements for residential mortgage loan companies.), As Engrossed
No fiscal implication to the State is anticipated.
The bill would amend the Finance Code as it relates to qualifications and requirements of licensed mortgage companies.
The DSML has indicated that any costs associated with the bill's provisions could be absorbed using existing agency resources. The DSML is a self-directed, semi-independent state entity and does not receive appropriated funds and is responsible for funding all direct and indirect operational costs and sets the amount of fees, penalties, charges, and revenues required to cover these costs.
Local Government Impact
No fiscal implication to units of local government is anticipated.