Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB3827 by Lambert (Relating to the regulation of earned wage access services; creating a criminal offense; providing an administrative penalty; authorizing a fee.), As Introduced
The fiscal implications of the bill cannot be determined as amounts and timing of any registration filing revenue are unknown.
The bill would require earned wage access services providers to register with the Secretary of State, would impose certain restrictions and requirements on a contract for the provision of earned wage access services, and would prohibit certain conduct by providers. The bill would make a violation of its provisions a Class B misdemeanor offense.
Based on the analysis of the Office of Court Administration, the Comptroller of Public Accounts (CPA), and the Consumer Credit Commissioner, any duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
According to the CPA, the amounts and timing of any registration filing revenue are unknown. It is assumed that any impact on state correctional populations or on the demand for state correctional resources would not be significant.
Local Government Impact
It is assumed that any fiscal impact to units of local government associated with enforcement, prosecution, supervision, or confinement would not be significant.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 304 Comptroller of Public Accounts, 466 Office of Consumer Credit Commissioner