LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session April 2, 1995 TO: Honorable Kenny Marchant, Chair IN RE: House Bill No. 1289 Committee on Financial Institutions By: Patterson, House of Representatives L.P."Pete" Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 1289 (relating to a reporting requirement applicable to certain financial institutions) this office has determined the following: The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill. This bill would require additional reporting requirements for financial institutions. The bill would also require financial institutions with deposits in excess of $300 million to submit a separate report regardless of whether or not they are owned or controlled by a holding company. The probable fiscal implication of implementing the provision of the bill during each of the first five years following passage is estimated as follows: