LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                              March 29, 2001
  
  
          TO:  Honorable Kip Averitt, Chair, House Committee on
               Financial Institutions
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HB1763  by McCall (Relating to the continuation and
               functions of the Finance Commission of Texas and the
               regulation of certain financial institutions and
               businesses.), Committee Report 1st House, Substituted
  
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*  No significant fiscal implication to the State is anticipated.        *
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The bill amends the Finance Code to eliminate all references to the
Finance Commission (FC) as a separate agency, but continues the
policy-making body with some modifications to its composition.  The
research conducted by the FC would be shifted to the Department of
Banking (DOB), Savings and Loan Department, or the Office of Consumer
Credit Commissioner.  The DOB would be allowed to employ a hearings
officer.  The part-time Executive Director's position of the FC is
eliminated with a savings of   $6,420 per year.

The bill continues the Finance Commission until September 1, 2013.

The effective date of the bill is September 1, 2001.
  
Local Government Impact
  
No fiscal implication to units of local government is anticipated.
  
  
Source Agencies:   466   Office of Consumer Credit Commissioner, 449
                   Finance Commission of Texas, 451   Department of
                   Banking, 450   Texas Savings and Loan Department,
                   116   Sunset Advisory Commission
LBB Staff:         JK, JO, RT, DE