LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 77th Regular Session
May 4, 2001
TO: Honorable David Sibley, Chair, Senate Committee on
Business & Commerce
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 2nd House, Substituted
**************************************************************************
* No significant fiscal implication to the State is anticipated. *
**************************************************************************
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 Texas Legislature creates a committee consisting of representatives
of the pawnbroker industry, law enforcement, and the computer software
industry to study and recommend a standard format for pawnbrokers to
electronically provide reportable data to law enforcement agencies. The
committee shall report its findings and recommendations to the Texas
Legislature not later than June 30, 2002.
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, 313 Department
of Information Resources
LBB Staff: JK, JO, RT, DE