By: Thompson of Brazoria H.B. No. 2746         (Senate Sponsor - Menéndez)          (In the Senate - Received from the House May 3, 2023;   May 4, 2023, read first time and referred to Committee on Business &   Commerce; May 12, 2023, reported favorably by the following vote:     Yeas 11, Nays 0; May 12, 2023, sent to printer.)Click here to see the committee vote         COMMITTEE VOTE              YeaNayAbsentPNV          SchwertnerX          KingX          BirdwellX          CampbellX          CreightonX          JohnsonX          KolkhorstX          MenéndezX          MiddletonX          NicholsX          ZaffiriniX     A BILL TO BE ENTITLED   AN ACT     relating to requirements related to refunds and credit provided   under terminated debt cancellation agreements.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 354.007, Finance Code, is amended by   amending Subsections (e), (f), and (g) and adding Subsection (e-1)   to read as follows:          (e)  If the debt cancellation agreement terminates due to the   early termination of the contract, a [the] holder who is a retail   seller who has not assigned or transferred the contract shall:                (1)  [,] not later than the 60th day after the date the   debt cancellation agreement terminates[:                [(1)]  refund or credit an appropriate amount of the   debt cancellation agreement fee; or                (2)  cause to be refunded or credited an appropriate   amount of the debt cancellation agreement fee by providing written   instruction not later than the 30th day after the date the debt   cancellation agreement terminates, including by electronic means,   to the administrator of the agreement [appropriate person].          (e-1)  If the debt cancellation agreement terminates due to   the early termination of the contract, a holder, other than a holder   described by Subsection (e), shall:                (1)  not later than the 60th day after the date the debt   cancellation agreement terminates refund or credit an appropriate   amount of the debt cancellation agreement fee; or                (2)  cause to be refunded or credited an appropriate   amount of the debt cancellation agreement fee by providing written   instruction not later than the 30th day after the date the debt   cancellation agreement terminates, including by electronic means,   to the administrator of the agreement and the retail seller.          (f)  The administrator of the agreement or the administrator   of the agreement and the retail seller, as applicable, not later   than the 30th day after receiving the written instructions   specified under Subsection (e)(2) or (e-1)(2), [holder] shall   provide [ensure that] a refund or credit of an amount of a debt   cancellation agreement fee proportional to the amount received by   the administrator and retail seller under the agreement [made by   another person under Subsection (e)(2) is made not later than the   60th day after the date the debt cancellation agreement   terminates].          (g)  The administrator of the agreement and the retail seller   [holder] shall maintain records of any refund or credit of an amount   of a debt cancellation agreement fee made under Subsection (e) or   (e-1) and provide electronic access to those records until the   later of the fourth anniversary of the date of the contract or the   second anniversary of the date of the refund or credit.          SECTION 2.  The changes in law made by this Act to Section   354.007, Finance Code, are procedural only and do not require the   refiling of forms to implement.          SECTION 3.  This Act takes effect September 1, 2023.     * * * * *