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TX HB2367
Bill
Status
2/3/2025
Primary Sponsor
Ellen Troxclair
Click for details
AI Summary
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Prohibits political subdivisions in Texas from establishing, operating, or owning a public bank or any organization engaged in banking activities
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Defines prohibited banking activities by reference to Section 31.002 of the Finance Code, which covers the business of receiving deposits and making loans
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Adds new Section 140.014 to Chapter 140 of the Local Government Code to codify this prohibition
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Applies "notwithstanding any other law," meaning this prohibition overrides any conflicting local authority or statute
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Takes effect September 1, 2025
Legislative Description
Relating to a prohibition on the establishment, operation, or ownership of a public bank by a political subdivision.
County Government
Last Action
Referred to Pensions, Investments & Financial Services
3/14/2025