LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session April 10, 1995 TO: Honorable Kenny Marchant, Chair IN RE: House Bill No. 3006 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. 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