Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
SB767 by Ellis (Relating to the regulation of certain residential mortgage foreclosure consulting services; providing a criminal penalty.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Business and Commerce Code and provides certain requirements for foreclosure consultants related to contracts, receiving a fee, and power of attorney. It is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.