LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

May 28, 2005

TO:	Honorable David Dewhurst , Lieutenant Governor, Senate Honorable Tom Craddick, Speaker of the House, House of Representatives
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	HB955 by Solomons (Relating to the regulation of financial businesses and practices; providing civil penalties.), Conference Committee Report

No significant fiscal implication to the State is anticipated.

The bill relates to the regulation of financial businesses and practices.  One of the bill's provisions requires the Office of Consumer Credit Commissioner, with the assistance of the Attorney
General, to conduct a one year study to develop and evaluate proposals to limit the use of social
security numbers in the state.

The proposed legislation may result in new complaints, investigations or cases by the Office of the
Attorney General; however, it is projected that this increase can be absorbed by current resources.

The Office of Consumer Credit Commissioner, Texas Department of Insurance, and Savings and Loan Department indicate that any costs associated with the bill's implementation could be absorbed within existing resources.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

302 Office of the Attorney General, 450 Savings and Loan Department, 454 Department of Insurance, 466 Office of Consumer Credit Commissioner, 451 Department of Banking, 329 Real Estate Commission, 469 Credit Union Department

LBB Staff:

JOB, JRO, RB