LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION

May 5, 2009

TO:	Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB3659 by Flynn (Relating to certain retail installment transactions involving the sale of motor vehicles.), Committee Report 1st House, Substituted

No significant fiscal implication to the State is anticipated.

The bill would amend Chapter 348 of the Finance Code so that an advertised price of a motor vehicle would not necessarily establish a cash price. The bill would also allow the retirement of a buyer's outstanding money from a lease in connection with a retail installment contract.

Based on information provided by the Office of Consumer Credit Commissioner, it is assumed that duties and responsibilities associated with implementing the provisions of the bill for the agency could be accomplished by utilizing existing resources. 

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

466 Office of Consumer Credit Commissioner

LBB Staff:

JOB, JRO, MW, ACa