LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

May 7, 2007

TO:	Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	SB753 by Shapleigh (relating to requirements to report certain data from Credit Services Organizations regarding certain transactions.), Committee Report 1st House, Substituted

No significant fiscal implication to the State is anticipated.

The bill would amend the Finance Code relating to requirements to report certain data from Credit Services Organizations regarding certain transactions by requiring the Finance Commission to submit an annual report containing certain information relating to certain transactions in the state. This bill would require the Finance Commission to adopt certain rules pertaining to the provisions of the bill.

Based on the analysis of the Department of Savings and Mortgage Lending, Office of Consumer Credit Commissioner, and Department of Banking, it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.

This bill would take effect September 1, 2007.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

450 Department of Savings and Mortgage Lending, 451 Department of Banking, 466 Office of Consumer Credit Commissioner

LBB Staff:

JOB, JRO, TGl