The 86th Texas Legislature finally adjourned, Sine Die, yesterday on May 27. At this juncture, it appears the session produced several very positive outcomes for community banking, with virtually all of our proactive legislative initiatives passed. While there are always a few “end-of-session surprises,” the bills we opposed were either adequately neutered or did not pass.
As reported previously, the governor has signed several pieces of legislation on the IBAT proactive agenda including: SB 614 (Nichols/Lambert), the Banking and Savings and Mortgage Lending Sunset bill; HB 1254 (Murphy/Hancock), which clarifies a home equity loan can indeed be valid on ag exempt property; and SB 726 (Zaffirini/Lambert), which creates parity between state banks and national banks for community development investments. Awaiting the governor’s signature is HB 2624 (Perez/Zaffirini), which would allow debit or credit card abuse to be prosecuted in any county where the offense was committed or in the county of residence of any person whose debit or credit card was unlawfully possessed or used without consent.
The remaining two pieces of card skimmer legislation finally passed and are on their way to the governor’s desk. HB 2945 and HB 2625 (Perez/Zaffirini) address various ongoing issues with both gas pump skimmers and card fraud in general. Some last minute drama surrounding HB 2625 threatened to derail the legislation along with a number of other bills, but we and other interested parties were able to keep it on track for passage.
We are working on an end-of-session Legislative Insider with more detail on bills of importance to community banking, as well as our more thorough Legislative White Paper. Please register now for our customary end-of-session legislative recap webinar on June 26 from noon until 1:30 p.m. We encourage you to gather your staff for this important and free “lunch and learn” opportunity.