Bill Text: TX HB2831 | 2017-2018 | 85th Legislature | Comm Sub
Bill Title: Relating to investments by state banks to promote community development.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-05-12 - Returned to Calendars Committee [HB2831 Detail]
Download: Texas-2017-HB2831-Comm_Sub.html
85R27766 TSR-D | |||
By: Oliveira | H.B. No. 2831 | ||
Substitute the following for H.B. No. 2831: | |||
By: Johnson of Dallas | C.S.H.B. No. 2831 |
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relating to investments by state banks to promote community | ||
development. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. The heading to Section 34.106, Finance Code, is | ||
amended to read as follows: | ||
Sec. 34.106. INVESTMENTS TO PROMOTE COMMUNITY DEVELOPMENT | ||
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SECTION 2. Section 34.106, Finance Code, is amended by | ||
amending Subsection (d) and adding Subsection (e) to read as | ||
follows: | ||
(d) A bank's aggregate investments under this section[ |
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amount equal to 15 [ |
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surplus. [ |
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(e) Notwithstanding any other law, a bank's exposure to a | ||
single project or entity described by this section, including all | ||
investments, loans, and commitments for loans, may not exceed 25 | ||
percent of the bank's unimpaired capital and surplus without the | ||
prior authorization of the banking commissioner in response to a | ||
written application. | ||
SECTION 3. This Act takes effect September 1, 2017. |