LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

April 17, 2005

TO:	Honorable Burt R. Solomons, Chair, House Committee on Financial Institutions
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	HB1387 by Thompson (Relating to the requirement of a net benefit in connection with a home loan that refinances an existing loan.), As Introduced

No significant fiscal implication to the State is anticipated.

It is anticipated that the Savings and Loan Department can absorb any costs associated with the bill within existing resources.

The bill would take effect September 1, 2005.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

450 Savings and Loan Department, 451 Department of Banking, 466 Office of Consumer Credit Commissioner, 469 Credit Union Department

LBB Staff:

JOB, JRO, MW, RB