Honorable René Oliveira, Chair, House Committee on Business & Industry
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4020 by Raymond (Relating to the security of certain financial information and liability for certain security breaches.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Business and Commerce Code to prohibit businesses from retaining certain credit, debit or store value card information after authorization of a transaction. The bill would take effect September 1, 2015.
The Office of the Attorney General indicated the costs associated with implementation of the bill could be absorbed with existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.