Bill Text: TX HB2845 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to reporting requirements for bank loans made to African American-owned businesses.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2023-03-14 - Referred to Pensions, Investments & Financial Services [HB2845 Detail]
Download: Texas-2023-HB2845-Introduced.html
| 88R10652 JES-D | ||
| By: Thierry | H.B. No. 2845 | |
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| relating to reporting requirements for bank loans made to African | ||
| American-owned businesses. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subtitle Z, Title 3, Finance Code, is amended by | ||
| adding Chapter 272 to read as follows: | ||
| CHAPTER 272. REPORTING REQUIREMENTS FOR BANK LOANS TO CERTAIN | ||
| BUSINESSES | ||
| Sec. 272.001. DEFINITIONS. (a) In this chapter, "African | ||
| American-owned business" means a business entity that is at least | ||
| 51 percent owned by one or more African Americans. | ||
| (b) The definitions provided by Section 31.002 apply to this | ||
| chapter. | ||
| Sec. 272.002. ANNUAL REPORT REQUIRED. Not later than March | ||
| 1 of each year, each bank doing business in this state that makes | ||
| loans to businesses shall submit a report to the finance commission | ||
| in the form and manner prescribed by the commission on loans made by | ||
| the bank during the previous calendar year to African | ||
| American-owned businesses. The report must include: | ||
| (1) the total dollar value of loans made by the bank to | ||
| African American-owned businesses; and | ||
| (2) the amount loaned to African American-owned | ||
| businesses as a percentage of the total amount of loans made by the | ||
| bank to businesses during that calendar year. | ||
| Sec. 272.003. ONLINE PUBLICATION OF REPORT. (a) The | ||
| finance commission shall provide the reports submitted under | ||
| Section 272.002 to the banking commissioner. The banking | ||
| commissioner shall publish and maintain the information from the | ||
| reports on the department's Internet website in a form determined | ||
| by the commissioner. | ||
| (b) The information published under Subsection (a) must be: | ||
| (1) available to the public; and | ||
| (2) displayed in a manner that shows the reported | ||
| information disaggregated by bank. | ||
| Sec. 272.004. RULES. The finance commission shall adopt | ||
| rules necessary to implement this chapter. | ||
| SECTION 2. As soon as practicable after the effective date | ||
| of this Act, the Finance Commission of Texas shall adopt the rules | ||
| necessary to implement Chapter 272, Finance Code, as added by this | ||
| Act. | ||
| SECTION 3. This Act takes effect September 1, 2023. | ||
