HBA-ATS S.B. 479 76(R) BILL ANALYSIS Office of House Bill AnalysisS.B. 479 By: Carona Business & Industry 3/30/1999 Engrossed BACKGROUND AND PURPOSE Under the Business & Commerce Code (code), the uniform fee for filing, indexing, and furnishing filing data for a financing statement (a document that notifies third parties that a debtor's property is or may be encumbered) in standard paper form is $10. Processing electronically filed financing statements required under the code is less expensive. S.B. 479 establishes a $5 fee for filing, indexing, and returning an electronic confirmation of a financing statement or other filing transmitted electronically in accordance with rules adopted under Subchapter D (Filing), Chapter 9 (Secured Transactions; Sales of Accounts and Chattel Paper), Business & Commerce Code. 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, to establish a $5 fee for filing, indexing, and returning an electronic confirmation of a financing statement or other filing transmitted electronically in accordance with rules adopted under Subchapter D (Filing). SECTION 2.Emergency clause. Effective date: upon passage.