LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

April 27, 2005

TO:	Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	HB2987 by Nixon (Relating to funding advanced in connection with a lawsuit that is at a rate above the usurious interest prohibition.), As Engrossed

No significant fiscal implication to the State is anticipated.

The bill provides that a contract which would allow a rate of return in excess of the usurious interest prohibition is against the public policy of the state. 

Local Government Impact

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

Source Agencies:

212 Office of Court Administration, Texas Judicial Council

LBB Staff:

JOB, JRO, WP, LB