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A BILL TO BE ENTITLED
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AN ACT
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relating to the elimination of the portion of the Loan |
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Administration Fee remitted to the comptroller. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 342.201(f), Finance Code, is amended to |
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read as follows: |
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(f) A loan contract under this subchapter may provide for an |
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administrative fee in an amount not to exceed $25 for a loan of more |
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than $1,000 or $20 for a loan of $1,000 or less. The administrative |
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fee is considered earned when the loan is made or refinanced and is |
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not subject to refund. An administrative fee is not interest. A |
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lender refinancing the loan may not contract for or receive an |
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administrative fee for the loan more than once in any 180-day |
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period, except that if the loan has an interest charge authorized by |
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Subsection (e) the lender may not contract for or receive the |
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administrative fee more than once in any 365-day period. [One |
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dollar of each administrative fee may be deposited with the |
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comptroller for use in carrying out the finance commission's |
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responsibilities under Section 11.3055.] |
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SECTION 2. Section 342.308(c), Finance Code, is amended to |
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read as follows: |
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(c) An administrative fee under Subsection (a)(9) is |
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considered earned when the loan is made or refinanced and is not |
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subject to refund. A lender refinancing the loan may not contract |
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for or receive an administrative fee for the loan more than once in |
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any 180-day period. [Fifty cents of each administrative fee may be |
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deposited with the comptroller for use in carrying out the finance |
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commission's responsibilities under Section 11.3055.] |
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SECTION 3. The change in law made by this Act does not |
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affect tax liability accruing before the effective date of this |
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Act. That liability continues in effect as if this article had not |
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been enacted, and the former law is continued in effect for the |
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collection of taxes due and for civil and criminal enforcement of |
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the liability for those taxes. |
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SECTION 4. EFFECTIVE DATE OF ARTICLE. Except as otherwise |
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provided by this article, this article takes effect January 1, |
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2026. |