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A BILL TO BE ENTITLED
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AN ACT
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relating to requiring The University of Texas at San Antonio to |
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conduct a study regarding cyber attacks against financial |
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institutions in this state. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 71, Education Code, is amended by adding |
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Section 71.07 to read as follows: |
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Sec. 71.07. STUDY AND REPORT REGARDING CYBER ATTACKS |
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AGAINST FINANCIAL INSTITUTIONS. (a) In this section: |
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(1) "Breach of system security" has the meaning |
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assigned by Section 521.053, Business & Commerce Code. |
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(2) "Financial institution" has the meaning assigned |
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by Section 201.101, Finance Code. |
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(b) The University of Texas at San Antonio shall conduct a |
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study regarding cyber attacks against financial institutions in |
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this state. The study must include: |
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(1) an evaluation of: |
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(A) the prevalence and impact of and breaches of |
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system security resulting from cyber attacks on financial |
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institutions; and |
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(B) the vulnerability of financial institutions |
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to cyber attacks and the security risks cyber attacks present to |
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those institutions; |
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(2) the identification of: |
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(A) any projects necessary to modernize the |
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security systems of financial institutions; |
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(B) any recommendations to improve the |
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cybersecurity infrastructure of financial institutions; and |
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(C) best practices to prevent or lessen the |
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impact of cyber attacks on financial institutions; and |
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(3) an examination of any other aspect of cyber |
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attacks on the operation of financial institutions as considered |
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appropriate by the university. |
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(c) In conducting the study, the university shall consult |
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with: |
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(1) the Department of Information Resources; |
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(2) the Texas Department of Banking; |
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(3) the Department of Savings and Mortgage Lending; |
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(4) the Credit Union Department; |
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(5) community stakeholders; and |
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(6) other interested parties. |
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(d) To the extent permitted by state or federal law, a |
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financial institution shall cooperate with and provide, on request, |
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information to The University of Texas at San Antonio to allow the |
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university to perform its duties under this section. |
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(e) Not later than December 1, 2020, The University of Texas |
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at San Antonio shall submit a written report on the results of the |
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study to the governor, the lieutenant governor, the speaker of the |
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house of representatives, and the presiding officer of each |
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standing committee of the senate and house of representatives |
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having primary jurisdiction over financial services matters and to |
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the Legislative Budget Board. The report must include any |
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recommendations for changes to applicable state statutes or rules. |
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(f) This section expires September 1, 2021. |
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SECTION 2. This Act takes effect September 1, 2019. |