LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION

April 13, 2009

TO:	Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB4312 by Gallego (Relating to providing protections to consumers of financial services.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend the Finance Code and impose an interest rate cap of nine percent for any extension of credit to a consumer under this code. It is assumed that any additional costs associated with implementation of the bill could be absorbed within existing resources.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.

Source Agencies:

302 Office of the Attorney General

LBB Staff:

JOB, JRO, JM