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
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* No significant fiscal implication to the State is anticipated. *
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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