Honorable John T. Smithee, Chair, House Committee on Judiciary & Civil Jurisprudence
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3454 by Thompson, Senfronia (Relating to transactions involving the assignment of rights in an individual's legal claim; authorizing the imposition of a fee.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Business and Commerce Code relating to transactions involving the assignment of rights in an individual's legal claim. The bill would require the Texas Department of Licensing and Regulation (TDLR) to license Civil Justice Funding companies by January 1, 2016 and require the companies to renew their licenses every two years on September 30. This bill does not allow TDLR to sanction or penalize any violators as the bill is written.
Based on the information provided by the TDLR, Comptroller of Public Accounts, State Office of Administrative Hearings, and the Office of the Attorney General, this analysis does not include any costs for these agencies as it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 360 State Office of Administrative Hearings, 304 Comptroller of Public Accounts, 452 Department of Licensing and Regulation