Loading chat...

TX SB621

Bill

Official Source

Status

Engrossed

4/1/2025

Primary Sponsor

Kevin Sparks

Click for details

Origin

Senate

89th Legislature Regular Session

AI Summary

  • Prohibits political subdivisions (such as cities, counties, and other local government entities) from establishing, operating, or owning a public bank

  • Defines prohibited activity as any organization or entity engaged in "banking" as defined under Section 31.002 of the Texas Finance Code

  • Adds new Section 140.014 to the Local Government Code to codify this restriction

  • The prohibition applies "notwithstanding any other law," meaning it overrides any conflicting existing authorities

  • 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

Committee report sent to Calendars

5/24/2025

Committee Referrals

Pensions, Investments & Financial Services4/9/2025
Local Government2/3/2025

Full Bill Text

No bill text available