Honorable Burt R. Solomons, Chair, House Committee on Financial Institutions
FROM:
John Keel, Director, Legislative Budget Board
IN RE:
HB1737 by Turner (Relating to prohibiting credit card solicitations on certain school campuses; providing a civil penalty.), As Introduced
No fiscal implication to the State is anticipated.
The bill adds Section 35.58 to the Business & Commerce Code relating to prohibiting credit card solicitations on certain school campuses; providing a civil penalty.The bill prohibits a person from soliciting on a campus of an institution of higher education or a public high school an individual to open a credit card account and a person who violates this section is liable to the state for a civil penalty in an amount not to exceed $10,000.The attorney general or the prosecuting attorney in the county in which the violation occurs may bring suit to recover the civil penalty, seek an injunction to prevent or restrain a violation, and may recover court costs, reasonable attorney's fees, investigative costs, witness fees, and deposition expenses.The Act takes effect September 1, 2003.
Local Government Impact
No fiscal implication to units of local government is anticipated.