LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session March 14, 1995 TO: Honorable Kenny Marchant, Chair IN RE: House Bill No. 1992 Committee on Financial Institutions By: Giddings House of Representatives Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 1992 (relating to the authority of the consumer credit commissioner and to the regulation of certain consumer credit practices; providing penalties) this office has determined the following: The bill would prohibit the Office of Consumer Credit Commissioner from accepting gifts (monetary or in-kind) from an individual, firm, partnership corporation or association which is under the Finance Commission's regulatory purview. The bill also provides for penalties if this provision is violated. The bill also prohibits discrimination for credit against individuals who derive their income, in whole or part, from a public assistance program or if an individual has exercised a right under the Consumer Credit Protection Act. The aggrieved individual may seek punitive damages for this violation and additional monetary damages if SECTION 1 is also violated. The fiscal implication to the state or units of local government cannot be determined. Source: LBB Staff: JK, VS, SM, RR. Office of the Consumer Credit Commissioner