TO: | Honorable John Carona, Chair, Senate Committee on Business & Commerce |
FROM: | Ursula Parks, Director, Legislative Budget Board |
IN RE: | SB60 by Nelson (Relating to the authority of a parent or legal guardian to establish a consumer file for a child and act on the child's behalf with a consumer reporting agency.), As Introduced |
The bill would amend the Business and Commerce Code to provide that a parent of a child less than 16 years of age may request a consumer reporting agency establish and maintain a consumer file for that child; recognize the parent’s authority to act on behalf of the child; provide that a security alert or freeze be placed on the child’s credit file; and prohibit a parent that has had parental rights terminated by the courts from establishing a credit file on behalf of the child. The Office of the Attorney General has determined that the bill would not result in a significant fiscal impact to the State and could be absorbed within existing resources.
The fiscal impact that may be generated in association with implementing the provisions of the bill for the Office of the Consumer Credit Commissioner are not considered in this analysis because any fiscal impact for the agency would be realized outside of the Treasury due to the agency being Self-Directed and Semi-Independent.
Source Agencies: | 302 Office of the Attorney General
|
LBB Staff: | UP, RB, EP, JM
|