Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB60 by Nelson (Relating to authorizing the placement of a security freeze on the consumer file or other record created or maintained by a consumer reporting agency regarding a person under 16 years of age.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Business and Commerce Code to provide that a representative authorized to act on behalf of a child less than 16 years of age may request a security alert or freeze be placed on the child’s credit file. The bill would also provide for the time period the security freeze would remain in effect. 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.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.