Pub. 61 2020-2021 Issue 4

14 TADA REVIEW OF THE 87TH LEGISLATIVE SESSION FINANCIAL PRODUCT ISSUES CREDIT CARD TRANSACTIONS WORK FROM HOME HB 735/SB 1080 (Minjarez/Campbell) Service Contracts Legislation will revise the definition of “depreciation benefit optional member program” under the Service Contract Regulatory Act by removing references to vehicle installment sale financing, and by specifying instead that such programs are for any vehicle, regardless of whether the vehicle is purchased for cash, financed or leased. TADA remained neutral on this legislation. HB 735 was signed into law by Governor Abbott on May 15 and becomes effective Sept. 1. SB 1504/HB 4277 (Hughes/ E. Thompson) Debt Cancellation Legislation, as introduced, would have provided for a process for refunds if a debt cancellation agreement is terminated. TADA monitored this legislation. HB 4277, approved by the House Pensions, Investments and Financial Services Committee on April 30, was placed on the House General State Calendar on May 12 but was not heard before the midnight deadline to hear House bills. SB 153/HB 3573 (Perry/Sanford) Data Processing Service Legislation will clarify existing tax practices by excluding merchant credit and debit card processing services from being considered as taxable data processing services. TADA was supportive of this effort. SB 153 was signed into law by Governor Abbott on June 14 and becomes effective Oct. 1. HB 3941 (Guillen) Credit Card Surcharge The legislation, as introduced, would have repealed the prohibition on a seller imposing a surcharge on a buyer who uses a credit card. TADA supported HB 3941 in the House Business and Industry Committee. HB 3941 passed out of the House on the last night to pass house bills (May 14) but never received a hearing in the Senate Business & Commerce Committee. HB 3510 (Lambert/Menendez) Work from Remote Locations Legislation will continue the work from home flexibility allowed by the Office of Consumer Credit Commissioner during the pandemic by establishing conditions under which an applicable license holder may allow an employee to work from a remote location. TADA worked with OCCC to limit the application of conditions to certain employees. HB 3510 was signed into law by Governor Abbott on June 14 and becomes effective Sept. 1.  LEGISLATIVE SESSION — CONTINUED FROM PAGE 13