LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session March 13, 1995 TO: Honorable Kenny Marchant, Chair IN RE: House Bill No. 1615 Committee on Financial Institutions By: Carona House of Representatives Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 1615 (relating to the appeal of orders of and civil penalties assessed by the consumer credit commissioner) this office has determined the following: The bill would allow the Consumer Credit Commissioner to assess certain fines and penalties for violation of the Texas Consumer Credit Code. Penalties may not exceed $1,000 per day, $5000 per location per year, or $50,000 per year for corporations with 11 or more business locations. The bill would also provide restitution to identifiable injured parties. Violators may request a hearing before the State Office of Administrative Hearings if they do not agree with the commissioners assessment. The bill would provide for judicial review. The fiscal implication to the State cannot be determined. No fiscal implication to units of local government is anticipated. Source: Office of the Consumer Credit Commissioner LBB Staff: JK, VS, RR