Bill Text: TX SB1683 | 2023-2024 | 88th Legislature | Introduced

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Bill Title: Relating to the prohibition on certain discrimination in the extension of credit based on social credit or value-based standards.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2023-03-16 - Referred to State Affairs [SB1683 Detail]

Download: Texas-2023-SB1683-Introduced.html

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By: Hughes S.B. No. 1683

A BILL TO BE ENTITLED
AN ACT
relating to the prohibition on certain discrimination in the
extension of credit based on social credit or value-based
standards.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 341.401, Finance Code, is amended by
adding Subsection (b) to read as follows:
(b) Except as otherwise expressly required by law, an
authorized lender or other person involved in a transaction subject
to this title may not deny to an organization, as defined by Section
1.001, Business Organizations Code, an extension of credit,
including a loan, in the organization's name or restrict or limit
the credit extended because of any other reason that is not based on
an organization's failure to meet quantitative and impartial
risk-based standards established by the lender, including an
organization's:
(1) social credit score or an environmental, social,
or governance score that is derived from subjective or value-based
standards;
(2) diversity, equity, or inclusion standards or
practices; or
(3) contracts, services, or other association with a
legal industry, including agriculture, fossil fuels, firearms, or
free-speech media platforms, or a religious institution.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2023.