LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session April 5, 1995 TO: Honorable David Sibley, Chair IN RE: Committee Substitute Committee on Economic Development for Senate Senate Bill Austin, Texas No. 921 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) 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 lessor license fee which varies based on volume and a $375 lease facilitator fee, to be deposited to the General Revenue Fund. The revenue estimate below includes only the lease facilitator fee as the lessor fee cannot be determined because the number of lessors in each fee category is unknown at this time. 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 $562,500 7.0 1997 238,336 562,500 7.0 1998 238,336 562,500 7.0 1999 238,336 562,500 7.0 2000 238,336 562,500 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