HBA-DMD H.B. 1307 76(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 1307 By: George Business & Industry 2/17/1999 Introduced BACKGROUND AND PURPOSE Currently, Uniform Commercial Code (UCC) notices filed by banks and other lending institutions with the office of the secretary of state total approximately 480,000 documents per year. In 1996, the Office of the Secretary of State designed and implemented a computer system to receive those notices electronically. H.B. 1307 establishes a $5 fee, compared to the $10 fee for a standard paper form filing, for electronically filing, indexing, and returning an electronic confirmation of a financing statement or other filing. 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, as follows: Sec. 9.4095. FEE FOR ELECTRONIC FILING. Establishes a $5 fee for filing, indexing, and returning an electronic confirmation of a financing statement or other filing that is transmitted electronically in accordance with rules adopted under this subchapter. SECTION 2.Emergency clause. Effective date: upon passage.