LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session March 13, 1995 TO: Honorable David Sibley, Chair IN RE: Senate Bill No. 870 Committee on Economic Development By: Madla Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on Senate Bill No. 870 (elating 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: Office of the Consumer Credit Commissioner LBB Staff: JK, VS, RR