Bill Text: TX HB1681 | 2011-2012 | 82nd Legislature | Comm Sub


Bill Title: Relating to the composition of the Finance Commission of Texas.

Spectrum: Partisan Bill (Republican 4-0)

Status: (Engrossed - Dead) 2011-05-16 - Referred to Business & Commerce [HB1681 Detail]

Download: Texas-2011-HB1681-Comm_Sub.html
  82R6405 JE-F
 
  By: Harless, Anderson of McLennan, Legler, H.B. No. 1681
      Nash
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the composition of the Finance Commission of Texas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Sections 11.102(b) and (c), Finance Code, are
  amended to read as follows:
         (b)  One member of the finance commission must be a banking
  executive, one member of the finance commission must be a savings
  executive, one member of the finance commission must be a consumer
  credit executive, one member of the finance commission must be a
  motor vehicle seller finance licensee, and one member of the
  finance commission must be a mortgage broker.
         (c)  Four [Five] members of the finance commission must be
  representatives of the general public. At least one of those
  members must be a certified public accountant.
         SECTION 2.  Section 11.102(e), Finance Code, is amended by
  adding Subdivision (5) to read as follows:
               (5)  "Motor vehicle seller finance licensee" means a
  person who:
                     (A)  holds a license issued under Chapter 348;
                     (B)  has had five years' or more experience as a
  Texas automobile dealer retailing motor vehicles during the
  seven-year period preceding the person's appointment; and
                     (C)  is a dealer as defined by Section 503.001,
  Transportation Code.
         SECTION 3.  The changes in law made by this Act in the
  qualifications of a member of the Finance Commission of Texas do not
  affect the entitlement of a member serving on the commission
  immediately before the effective date of this Act to continue to
  serve for the remainder of the person's term.  The changes in law
  apply only to appointment of commission members on or after the
  effective date of this Act.
         SECTION 4.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2011.
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