TO: | Honorable Burt R. Solomons, Chair, House Committee on Financial Institutions |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB944 by Solomons (Relating to location of certain financial institution branches.), Committee Report 1st House, Substituted |
The bill would amend the Finance Code to define "commercial activity" and prohibit state banks, savings banks, or depository institutions from establishing or maintaining a branch under certain conditions.
Based on the analysis of the Department of Banking and the Department of Savings and Mortgage Lending, it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill would take effect immediately upon receiving a vote of two-thirds of all members elected to each house or otherwise on September 1, 2007.
Source Agencies: |
LBB Staff: | JOB, JRO, MW, TGl
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