LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION

March 24, 2009

TO:	Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB80 by Flynn (Relating to the regulation of credit reporting bureaus; providing penalties.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill amends the Finance Code by adding Chapter 158 and would authorize the Finance Commission to adopt and enforce rules requiring the licensing and regulation of credit reporting bureaus.

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

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

302 Office of the Attorney General, 451 Department of Banking, 466 Office of Consumer Credit Commissioner

LBB Staff:

JOB, JRO, MW, ACa