LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
74th Regular Session
April 25, 1995
TO: Honorable Kenny Marchant, Chair IN RE: House BillNo. 3006,
Committee on Financial Institutions as amended
House of Representatives By: Giddings
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on House Bill No.
3006 (relating to a residence requirement for a bank director)
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.
The bill would define a bank's local areas and establish the
composition of a bank's board of directors based on the inclusion
of the local area definition.
The probable fiscal implication of implementing the provisions of
the bill during each of the first five years following passage
is estimated as follows:
Fiscal Probable Revenue Probable Cost Change in
Year Gain to Banking Out of Banking Number of State
Department Expense Department Expense Employees from
Fund 508 Fund 508 FY 1995
GR Consolidated GR Consolidated
1996 $36,400 $36,400 1.0
1997 34,060 34,060 1.0
1998 34,734 34,734 1.0
1999 35,423 35,423 1.0
2000 36,126 36,126 1.0
Similar annual fiscal implications would continue as long as the
provisions of the bill are in effect.
No fiscal implication to units of local government is
anticipated.
Source: Department of Banking
LBB Staff: JK, VS, RR