LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

February 21, 2005

TO:	Honorable Helen Giddings, Chair, House Committee on Business & Industry
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	HB695 by Leibowitz (Relating to restrictions on the prices of certain consumer goods and services during an abnormal disruption of the market.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill adds the new Chapter 48 authorizing the Governor to declare, by proclamation, an abnormal disruption of the market. The bill prohibits the selling of essential consumer goods and services at unconscionably excessive prices after the Governor declares an abnormal disruption of the market. A price charged is considered unconscionably excessive if it exceeds 20 percent or more than the good or service was sold for prior to the event or circumstances identified by the proclamation. The proclamation must specify the geographical area covered and the date and time the abnormal disruption occurred. A violation of this section is deceptive trade practice.

No significant fiscal impact to the State is anticipated as the Office of the Attorney General currently investigates complaints of excessive pricing of fuels, food, medicine, and other necessities during disasters.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.

Source Agencies:

301 Office of the Governor, 302 Office of the Attorney General

LBB Staff:

JOB, JRO, MS, SMi