Honorable Geanie W. Morrison, Chair, House Committee on Transportation
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1062 by Perry (Relating to documentation for the transfer of a motor vehicle title.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend Chapter 501 of the Transportation Code to require the Texas Department of Motor Vehicles (TxDMV) to provide a secure power of attorney form and reassignment form for licensed motor vehicles in electronic and paper formats and for use consistent with 49 C.F.R. Part 580, relating to odometer disclosure requirements. The bill would require TxDMV to establish a process to accept electronic signatures on secure documents which have been signed through a system not controlled by TxDMV.
TxDMV indicates that any costs or duties associated with implementing the provisions of the bill could be absorbed within the agency's existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.