HBA-EDN S.B. 935 77(R) BILL ANALYSIS Office of House Bill AnalysisS.B. 935 By: Armbrister Financial Institutions 4/27/2001 Engrossed BACKGROUND AND PURPOSE Currently, tax preparers who are Internal Revenue Service (IRS) authorized e-file providers who facilitate loans on behalf of their customers for a bank are required to be licensed by the consumer credit commissioner. Senate Bill 935 exempts IRS authorized e-file providers from the requirement to be licensed by the consumer credit commissioner. 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 Senate Bill 935 amends the Finance Code to provide that an electronic return originator who is an authorized Internal Revenue Service e-file provider is not required to obtain a license to make, negotiate, or transact a loan that is based on a person's federal income tax refund on behalf of a bank, savings bank, savings and loan association, or credit union. EFFECTIVE DATE September 1, 2001.