North Carolina 2025-2026 Regular Session

North Carolina Senate Bill S554 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		GENERAL ASSEMBLY OF NORTH CAROLINA
2	2		SESSION 2025
3		-	S 1
4		-	SENATE BILL 554
	3	+	S D
	4	+	SENATE BILL DRS45286-MU-2A
	5	+
5	6
6	7
7	8		Short Title: Farmers Protection Act. (Public)
8	9		Sponsors: Senators B. Newton and Barnes (Primary Sponsors).
9		-	Referred to: ~~Rules and Operations of the Senate~~
10		-	~~March 26, 2025~~
11		-	~~S554 -v-1~~
	10	+	Referred to:
	11	+
	12	+	DRS45286 -MU-2A
12	13		A BILL TO BE ENTITLED 1
13	14		AN ACT TO ENACT THE FARMERS PROTECTION ACT TO PREVENT 2
14	15		DISCRIMINATION IN FINANCING AGAINST FARMERS . 3
15	16		The General Assembly of North Carolina enacts: 4
16	17		SECTION 1. Article 6 of Chapter 53C of the General Statutes is amended by adding 5
17	18		a new section to read: 6
18	19		"§ 53C-6-21. Discrimination prohibited. 7
19	20		(a) Definitions. – The following definitions apply in this section: 8
20	21		(1) Agriculture producer. – A person engaged in the growing of crops or livestock 9
21	22		production for retail consumption. 10
22	23		(2) ESG commitment. – A bank's decision either to join an initiative or 11
23	24		organization whose purpose is any environmental, social, or governance goal 12
24	25		or to otherwise commit to any environmental, social, or governance goal. 13
25	26		(b) Prohibition. – It is unlawful for a bank to deny or cancel its service to an agriculture 14
26	27		producer based, in whole or in part, upon the agriculture producer's greenhouse gas emissions, 15
27	28		use of fossil-fuel derived fertilizer, or use of fossil-fuel powered machinery. 16
28	29		(c) ESG Commitment. – If a bank has made any ESG commitment related to agriculture, 17
29	30		there is a rebuttable presumption that the bank's denial or restriction of a service to an agriculture 18
30	31		producer violates this section. A bank may overcome this rebuttable presumption by 19
31	32		demonstrating, through clear and convincing evidence, that its denial or restriction of a service 20
32	33		was based solely on documented financial considerations rather than an ESG commitment. 21
33	34		(d) Annual Report. – By January 1 of each year, a bank shall attest, under penalty of 22
34	35		perjury, on a form prescribed by the Commissioner, whether the bank is in compliance with this 23
35	36		section. 24
36	37		(e) Enforcement. – If a bank violates this section, the Commissioner may bring a civil 25
37	38		action to seek an injunction or civil penalty. A court may assess a civil penalty of up to ten 26
38	39		thousand dollars ($10,000) per violation. The clear proceeds of a civil penalty assessed under this 27
39	40		section shall be remitted to the Civil Penalty and Forfeiture Fund in accordance with 28
40	41		G.S. 115C-457.2. 29
41	42		(f) Unfair or Deceptive Trade Practice. – A violation of this section is an unfair or 30
42	43		deceptive trade practice under G.S. 75-1.1." 31
43	44		SECTION 2. G.S. 54B-78 reads as rewritten: 32
44	45		"§ 54B-78. Prohibited practices. 33
45	46		(a) Any A person or association who shall engage that engages in any either of the 34
46		-	following acts or practices shall be is guilty of a Class 1 misdemeanor: 35 General Assembly Of North Carolina Session 2025
47		-	Page 2 Senate Bill 554-First Edition
	47	+	following acts or practices shall be is guilty of a Class 1 misdemeanor: 35
	48	+	FILED SENATE
	49	+	Mar 25, 2025
	50	+	S.B. 554
	51	+	PRINCIPAL CLERK General Assembly Of North Carolina Session 2025
	52	+	Page 2 DRS45286-MU-2A
48	53		(1) Defamation: Making, publishing, disseminating, or circulating, directly or 1
49	54		indirectly, or aiding, abetting, or encouraging the making, publishing, 2
50	55		disseminating, or circulating of of, any oral, written, or printed statement 3
51	56		which that is false regarding the financial condition of any association. 4
52	57		(2) False information and advertising: Making, publishing, disseminating, or 5
53	58		circulating or causing, directly or indirectly, to be made published, 6
54	59		disseminated, circulated, or otherwise placed before the public in any 7
55	60		publication, media, notice, pamphlet, letter, poster, or any other way, an 8
56	61		advertisement, announcement, or statement containing any assertion, 9
57	62		representation, or statement with respect to the savings and loan business or 10
58	63		with respect to any person in the conduct of the savings and loan business 11
59	64		which that is untrue, deceptive, or misleading. 12
60	65		(b) The provisions of G.S. 53C-6-21 apply to a State association." 13
61	66		SECTION 3. G.S. 54C-64 reads as rewritten: 14
62	67		"§ 54C-64. Prohibited practices. 15
63	68		(a) A person who that engages in any either of the following acts or practices is guilty of 16
64	69		a Class 1 misdemeanor: 17
65	70		(1) Defamation: Making, publishing, disseminating, or circulating, directly or 18
66	71		indirectly, or aiding, abetting, or encouraging the making, publishing, 19
67	72		disseminating, or circulating of of, any oral, written, or printed statement that 20
68	73		is false regarding the financial condition of any savings bank. 21
69	74		(2) False information and advertising: Making, publishing, disseminating, 22
70	75		circulating, or otherwise placing before the public in any publication, media, 23
71	76		notice, pamphlet, letter, poster, or any other way, an advertisement, 24
72	77		announcement, or statement containing any assertion, representation, or 25
73	78		statement with respect to the savings bank business or with respect to any 26
74	79		person in the conduct of the savings bank business that is untrue, deceptive, 27
75	80		or misleading. 28
76	81		(3) Repealed by Session Laws 1997-241, s. 2. 29
77	82		(b) The provisions of G.S. 53C-6-21 apply to a State savings bank." 30
78	83		SECTION 4. Article 14C of Chapter 54 of the General Statutes is amended by adding 31
79	84		a new section to read: 32
80	85		"§ 54-109.23. Discrimination prohibited. 33
81	86		The provisions of G.S. 53C-6-21 apply to a credit union. A credit union shall submit the 34
82	87		annual report described in G.S. 53C-6-21(d) to the Administrator, and the Administrator has the 35
83	88		enforcement authority described in G.S. 53C-6-21(e)." 36
84	89		SECTION 5. This act is effective when it becomes law and applies to acts committed 37
85	90		on or after that date. 38