Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1134 by Craddick (Relating to credit services organizations and extensions of consumer credit facilitated by credit services organizations; increasing a criminal penalty.), As Introduced
The provisions of the bill addressed by this analysis would amend the Finance Code as it relates to credit services organizations and extensions of consumer credit facilitated by credit services organizations. Under the provisions of the bill, each day of a continuing violation of certain chapters of the Finance Code would constitute a separate offense punishable by a Class B misdemeanor.
A Class B misdemeanor is punishable by confinement in county jail for a term not to exceed 180 days and in addition to confinement, an optional fine not to exceed $2,000.
The provisions of the bill would not result in a significant impact on the demand for state correctional resources.