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.