HBA-JLV H.B. 3668 77(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 3668
By: Pitts
Financial Institutions
4/11/2001
Introduced



BACKGROUND AND PURPOSE 

Current law allows sellers of vehicles and vessels to charge, and include
in retail installment contracts, documentary fees for the pre-registration
of certain documents relating to titling and registration. Manufactured
home sellers incur similar closing expenses but do not have the statutory
authority permitting the imposition of documentary fees by manufactured
home sellers.  House Bill 3668 provides statutory authority permitting the
imposition of documentary fees by manufactured home sellers. 

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

House Bill 3668 amends the Finance Code to establish $100 as the maximum
limit that may be charged for the preparation of credit documents in a
retail installment contract involving manufactured home sales. 

EFFECTIVE DATE

On passage, or if the Act does not receive the necessary vote, the Act
takes effect September 1, 2001.