LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

March 30, 2007

TO:	Honorable Burt R. Solomons, Chair, House Committee on Financial Institutions
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB1809 by Herrero (Relating to consumer debt owed by certain military servicemembers.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend the Finance Code by providing that a military service member who incurs an injury while serving in a combat zone and is hospitalized for 21 or more consecutive days is entitled to defer collection of their consumer debt, including abatement of a lawsuit and prohibits a creditor from taking certain actions during the deferment period such as applying accrued interest to the debt or penalizing in any other manner. It is assumed that any additional costs associated with implementing the provisions of the bill could be absorbed within existing state resources.

This bill would take effect September 1, 2007.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

302 Office of the Attorney General

LBB Staff:

JOB, JRO, JM