Honorable Jim Murphy, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB3292 by Gutierrez (relating to sale-leaseback transactions.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
The bill would impact the Office of Consumer Credit Commissioner (OCCC) due to the changes regarding sale-leaseback transactions. OCCC indicates the changes would result in two complex issues per month and would require one new full-time equivalent employee to handle issue review and investigations. As a self-funding, self-leveling agency, OCCC is required to collect revenues sufficient to cover its costs, so that any additional costs incurred in implementing the provisions of the bill would be offset by an equal amount of revenue.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
466 Office of Consumer Credit Commissioner, 451 Department of Banking