LGBTQ Business Equal Credit Enforcement and Investment Act

H.R. 1443 · 117th Congress · Jul 12, 2021 · Lineage

AN ACT

To amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQ-owned businesses.

Section 1 Short title

This Act may be cited as the “LGBTQ Business Equal Credit Enforcement and Investment Act”.

Sec. 2 Small business loan data collection

Section 704B of the Equal Credit Opportunity Act (15 U.S.C. 1691c–2) is amended—

(1)

by inserting “LGBTQ-owned,” after “minority-owned,” each place such term appears;

(2)

in subsection (e)(2)(G), by inserting “, sexual orientation, gender identity” after “sex”; and

(3)

in subsection (h), by adding at the end the following:

“(7) LGBTQ-owned business—The term LGBTQ-owned business means a business—

“(A) more than 50 percent of the ownership or control of which is held by 1 or more individuals self-identifying as lesbian, gay, bisexual, transgender, or queer; and

“(B) more than 50 percent of the net profit or loss of which accrues to 1 or more individuals self-identifying as lesbian, gay, bisexual, transgender, or queer.”

Sec. 3 Determination of budgetary effects

The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled “Budgetary Effects of PAYGO Legislation” for this Act, submitted for printing in the Congressional Record by the Chairman of the House Budget Committee, provided that such statement has been submitted prior to the vote on passage.

Lineage

Jul 12, 2021viewing Referred in Senate Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs See what changed
Jun 24, 2021 Engrossed in House See what changed
Feb 26, 2021 Reported in House Mr. Torres of New York (for himself, Mr. Auchincloss, Mr. Blumenauer, Ms. Bonamici, Ms. Castor of Florida, Mr. Cicilline, Ms. Clarke of New York, Ms. DelBene, Ms. Eshoo, Mr. Espaillat, Ms. Garcia of Texas, Mr. García of Illinois, Mr. Grijalva, Mr. Hastings, Mrs. Hayes, Mr. Johnson of Georgia, Mr. Jones, Mr. Khanna, Ms. Leger Fernandez, Mr. Lowenthal, Mrs. Carolyn B. Maloney of New York, Mr. McGovern, Ms. Moore of Wisconsin, Mr. Nadler, Ms. Norton, Mr. Pappas, Mr. Payne, Mr. Raskin, Ms. Scanlon, Ms. Schakowsky, Ms. Strickland, Ms. Velázquez, Mrs. Watson Coleman, Ms. Titus, Mr. Meeks, and Mr. Tonko) introduced the following bill; which was referred to the Committee on Financial Services See what changed
Feb 26, 2021 Introduced in House Mr. Torres of New York (for himself, Mr. Auchincloss, Mr. Blumenauer, Ms. Bonamici, Ms. Castor of Florida, Mr. Cicilline, Ms. Clarke of New York, Ms. DelBene, Ms. Eshoo, Mr. Espaillat, Ms. Garcia of Texas, Mr. García of Illinois, Mr. Grijalva, Mr. Hastings, Mrs. Hayes, Mr. Johnson of Georgia, Mr. Jones, Mr. Khanna, Ms. Leger Fernandez, Mr. Lowenthal, Mrs. Carolyn B. Maloney of New York, Mr. McGovern, Ms. Moore of Wisconsin, Mr. Nadler, Ms. Norton, Mr. Pappas, Mr. Payne, Mr. Raskin, Ms. Scanlon, Ms. Schakowsky, Ms. Strickland, Ms. Velázquez, Mrs. Watson Coleman, Ms. Titus, Mr. Meeks, and Mr. Tonko) introduced the following bill; which was referred to the Committee on Financial Services

LGBTQ Business Equal Credit Enforcement and Investment Act

Section 1 Short title

Sec. 2 Small business loan data collection

Sec. 3 Determination of budgetary effects

Cite this provision

Incoming references