Bill Text: TX SB621 | 2025-2026 | 89th Legislature | Introduced
Bill Title: Relating to a prohibition on the establishment, operation, or ownership of a public bank by a political subdivision.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-12-13 - Filed [SB621 Detail]
Download: Texas-2025-SB621-Introduced.html
| 89R4477 DRS-D | ||
| By: Sparks | S.B. No. 621 | |
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| relating to a prohibition on the establishment, operation, or | ||
| ownership of a public bank by a political subdivision. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Chapter 140, Local Government Code, is amended | ||
| by adding Section 140.014 to read as follows: | ||
| Sec. 140.014. PROHIBITION ON PUBLIC BANK. Notwithstanding | ||
| any other law, a political subdivision may not establish, operate, | ||
| or own an organization or entity that is organized for the purpose | ||
| of engaging in banking as defined by Section 31.002, Finance Code. | ||
| SECTION 2. This Act takes effect September 1, 2025. | ||
