86R5791 SOS-D
By: Minjarez H.B. No. 904
A BILL TO BE ENTITLED
AN ACT
relating to requiring The University of Texas at San Antonio to
conduct a study regarding cyber attacks against financial
institutions in this state.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 71, Education Code, is amended by adding
Section 71.07 to read as follows:
Sec. 71.07. STUDY AND REPORT REGARDING CYBER ATTACKS
AGAINST FINANCIAL INSTITUTIONS. (a) In this section:
(1) "Breach of system security" has the meaning
assigned by Section 521.053, Business & Commerce Code.
(2) "Financial institution" has the meaning assigned
by Section 201.101, Finance Code.
(b) The University of Texas at San Antonio shall conduct a
study regarding cyber attacks against financial institutions in
this state. The study must include:
(1) an evaluation of:
(A) the prevalence and impact of and breaches of
system security resulting from cyber attacks on financial
institutions; and
(B) the vulnerability of financial institutions
to cyber attacks and the security risks cyber attacks present to
those institutions;
(2) the identification of:
(A) any projects necessary to modernize the
security systems of financial institutions;
(B) any recommendations to improve the
cybersecurity infrastructure of financial institutions; and
(C) best practices to prevent or lessen the
impact of cyber attacks on financial institutions; and
(3) an examination of any other aspect of cyber
attacks on the operation of financial institutions as considered
appropriate by the university.
(c) In conducting the study, the university shall consult
with:
(1) the Department of Information Resources;
(2) the Texas Department of Banking;
(3) the Department of Savings and Mortgage Lending;
(4) the Credit Union Department;
(5) community stakeholders; and
(6) other interested parties.
(d) To the extent permitted by state or federal law, a
financial institution shall cooperate with and provide, on request,
information to The University of Texas at San Antonio to allow the
university to perform its duties under this section.
(e) Not later than December 1, 2020, The University of Texas
at San Antonio shall submit a written report on the results of the
study to the governor, the lieutenant governor, the speaker of the
house of representatives, and the presiding officer of each
standing committee of the senate and house of representatives
having primary jurisdiction over financial services matters and to
the Legislative Budget Board. The report must include any
recommendations for changes to applicable state statutes or rules.
(f) This section expires September 1, 2021.
SECTION 2. This Act takes effect September 1, 2019.