Honorable David Dewhurst, Lieutenant Governor, Senate
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
SB782 by Carona (Relating to uniform law on secured transactions.), As Passed 2nd House
No significant fiscal implication to the State is anticipated.
The bill would amend Chapter 9 of the Business and Commerce Code related to secured transactions.The bill would clarify language related to secured transactions and would address certain items related to individual debtor names and trust records.The bill would also repeal Chapter 11 of the Business and Commerce Code related to effective date and transition provisions of the Uniform Commercial Code.The bill would take effect on July 1, 2013.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.