BILL ANALYSIS S.B. 453 By: Brown (Talton) May 19, 1995 Committee Report (Unamended) BACKGROUND Bail bondsmen and county governments interact on a regular basis. For many years, bail bondsmen have been guaranteeing their licenses with certificates of deposit (CD), as required by law. Currently, these CDs must be styled in the name of the county treasurer. This has caused problems with the banks and the IRS because the CD and interest earned on the CD are legally owned by the bondsman and merely pledged as collateral to the county. PURPOSE As proposed, S.B. 453 requires an applicant for a bail bondsman's license who has a certificate of deposit with the county treasurer and the financial institution that issues a certificate of deposit to assign the certificate of deposit to the county treasurer of the county in which the bondsman's license is to be issued. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 6, Article 2372p-3, V.T.C.S., by adding Subsection (i), to require an applicant for a bail bondsman's license who has a certificate of deposit with the county treasurer and the financial institution that issues a certificate of deposit to assign the certificate of deposit to the county treasurer of the county in which the bondsman's license is to be issued. SECTION 2. Effective date: September 1, 1995. Makes application of this Act prospective. SECTION 3. Emergency clause. SUMMARY OF COMMITTEE ACTION SB 453 was considered by the full committee in a formal meeting on May 19, 1995. SB 453 was reported favorably without amendments, with the recommendation that it do pass and be printed by a record vote of 6 ayes, 0 nays, 0 pnv, and 3 absent.