LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session March 27, 2001 TO: Honorable Kim Brimer, Chair, House Committee on Business & Industry FROM: John Keel, Director, Legislative Budget Board IN RE: HB2182 by Brimer (Relating to certain sale-leaseback transactions subject to regulation; providing penalties.), As Introduced ************************************************************************** * No significant fiscal implication to the State is anticipated. * ************************************************************************** The bill amends the Business and Commerce Code by adding a Subchapter J. The bill defines a sale-leaseback transaction to mean a transaction that involves the sale of a consumer good by a consumer to a merchant, and the subsequent leaseback of the consumer good by the merchant to the consumer. The bill requires a merchant to file a registration statement and post a $10,000 security deposit with the Secretary of State (SOS). The registration is for a one-year period and may be renewed by filing a renewal application. The bill states that the SOS may charge an annual filing fee not to exceed $250 to cover the cost of filing a registration statement or renewal application. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies: 302 Office of the Attorney General, 307 Secretary of State, 449 Finance Commission of Texas, 466 Office of Consumer Credit Commissioner LBB Staff: JK, JO, DE