Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB716 by Carona (Relating to late fees under a residential lease.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Property Code to clarify that a landlord may not impose a late fee until the rent has remained unpaid one full day after the date it was due. It is assumed that any additional costs associated with the implementation of the bill could be absorbed within existing state resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.