LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session March 26, 1995 TO: Honorable David Sibley, Chair IN RE: Senate Bill No. 921 Committee on Economic Development By: Cain Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on Senate Bill No. 921 (relating to the regulation of certain persons engaged in the business of motor vehicle leasing; providing civil penalties) 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 allow for the licensing and regulation of individuals engaged in the leasing of new motor vehicles. The bill also designates a license fee of $750 for each lessor and $375 for each lease facilitator to be deposited to the General Revenue Fund. 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 Cost Out Probable Revenue Change in Year of State Highway Gain Number of State Fund 006 to General Employees from Revenue FY 1995 Fund 001 1996 $279,936 $937,500 7.0 1997 238,336 937,500 7.0 1998 238,336 937,500 7.0 1999 238,336 937,500 7.0 2000 238,336 937,500 7.0 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 Transportation LBB Staff: JK, ML, RR