Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB2056 by Hancock (Relating to unlawful practices relating to credit card transactions; providing a civil penalty.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would impose restrictions on certain credit card companies and add reporting requirements. The bill would allow the Office of the Attorney General to file suit against companies for violating the provisions of the bill and impose civil penalties.
It is assumed that any costs associated with the bill could be absorbed using existing resources.
Although creating new civil penalties could result in an increase in revenue, the fiscal impact cannot be determined as the number of cases of noncompliant behavior resulting in a civil penalty cannot be estimated.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 466 Office of Consumer Credit Commissioner