HBA-JLV H.B. 1994 77(R)BILL ANALYSIS Office of House Bill AnalysisH.B. 1994 By: Marchant Financial Institutions 7/3/2001 Enrolled BACKGROUND AND PURPOSE Current law allows the seller of a vehicle to charge, and include on the retail installment contract, a documentary fee in the amount of $50 for the preregistration of certain documents relating to the titling and registration of a vehicle that is the subject of the sale. In addition to these documents, the closing of a vehicle sale typically requires that the seller prepare other documents on behalf of the purchaser, including those relating to credit approval, insurance, and warranties. House Bill 1994 increases the maximum allowable documentary fee. 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. ANALYSIS House Bill 1994 amends the Finance Code to increase, from $50 to $75, the maximum limit for a documentary fee charged in a retail installment contract involving certain types of vehicles. EFFECTIVE DATE Vetoed.