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No fiscal implication to the State is anticipated.
HB 3536 requires the 11 members of the Finance Commission of Texas to have a majority approve the appointments of the banking commissioner and the savings and mortgage lending commissioner.
The finance commission consists of 11 members, however before the 82nd Legislature the commission was at nine members. When there were nine members the commission required five votes (a majority) to affirm positions for the banking commissioner and the savings and mortgage lending commissioner. Since the current makeup of the commission is 11 members the law still requires only five affirmative votes to appoint these two commissioners, which is less than a majority.
We support HB 3536 because it is wise and prudent that the majority of a commission give their consent to positions of high authority. Additionally, by requiring a majority to approve these positions, the commission as a whole is more accountable and transparent to the decisions that it makes.