HBA-ATS S.B. 479 76(R)    BILL ANALYSIS


Office of House Bill AnalysisS.B. 479
By: Carona
Business & Industry
3/30/1999
Engrossed



BACKGROUND AND PURPOSE 

Under the Business & Commerce Code (code), the uniform fee for filing,
indexing, and furnishing filing data for a financing statement (a document
that notifies third parties that a debtor's property is or may be
encumbered) in standard paper form is $10.  Processing electronically filed
financing statements required under the code is less expensive.  S.B. 479
establishes a $5 fee for filing, indexing, and returning an electronic
confirmation of a financing statement or other filing transmitted
electronically in accordance with rules adopted under Subchapter D
(Filing), Chapter 9 (Secured Transactions; Sales of Accounts and Chattel
Paper), Business & Commerce Code. 

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, to establish a $5 fee for filing, indexing, and
returning an electronic confirmation of a financing statement or other
filing transmitted electronically in accordance with rules adopted under
Subchapter D (Filing). 

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