HBA-MPA H.B. 2176 76(R)BILL ANALYSIS Office of House Bill AnalysisH.B. 2176 By: Siebert Transportation 5/22/1999 Enrolled BACKGROUND AND PURPOSE Currently, the law provides two different deadlines for release by the holder of a lien against a motor vehicle when the lien is paid off, one states not more than 10 days under the Finance Code and another states not more than 21 days under the Transportation Code. H.B. 2176 resolves the conflict by amending the Transportation Code to refer to the Finance Code, thus establishing the10-day time limit as the standard. 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 Section 501.115(a), Transportation Code, to require the lienholder, when a debt or lien has been satisfied, to execute and deliver a discharge of the lien, within a reasonable time not to exceed the maximum time allowed by Section 348.408 (Outstanding Balance Information; Payment in Full), Finance Code, which is ten days, rather than 21 days, from the receipt of the final payment as stated in the existing language. SECTION 2. Emergency clause. Effective date: upon passage.