HBA-DMD H.B. 1307 76(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 1307
By: George
Business & Industry
2/17/1999
Introduced



BACKGROUND AND PURPOSE 

Currently, Uniform Commercial Code (UCC) notices filed by banks and other
lending institutions with the office of the secretary of state total
approximately 480,000 documents per year.  In 1996, the Office of the
Secretary of State designed and implemented a computer system to receive
those notices electronically.   H.B. 1307 establishes a $5 fee, compared to
the $10 fee for a standard paper form filing, for electronically filing,
indexing, and returning an electronic confirmation of a financing statement
or other filing. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Subchapter D, Chapter 9, Business & Commerce Code, by
adding Section 9.4095, as follows: 

Sec. 9.4095.  FEE FOR ELECTRONIC FILING.  Establishes a $5 fee for filing,
indexing, and returning an electronic confirmation of a financing statement
or other filing that is transmitted electronically in accordance with rules
adopted under this subchapter. 

SECTION 2.Emergency clause.
  Effective date: upon passage.