By: Schaefer H.B. No. 2041
A BILL TO BE ENTITLED
AN ACT
relating to notice to consumers when a financial institution
generates or collects prohibited firearm or ammunition purchase
information.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 271 Finance Code, is amended to add
Section 271.007 as follows:
Sec. 271.007. NOTICE TO CONSUMERS REGARDING FIREARM OR
AMMUNITION TRANSACTIONS. (a) Any international or domestic
merchant category code used in commerce in Texas or by a Texas
person to purchase firearms or ammunition shall only identify the
items purchased using a merchant category code indicating sporting
goods acquirement, and a financial institution shall not generate
or collect any customer personal identifying information except to
identify the purchases as sporting goods.
(b) A financial institution shall notify a customer in
writing each time any personal identifying customer information is
collected or generated in violation of Subsection (a).
(c) In this section:
(1) "Customer" has the meaning assigned by Section
59.001, Finance Code.
(2) "Financial institution" has the meaning assigned
by Section 201.101, Finance Code.
(d) The Finance Commission of Texas shall adopt all rules
necessary to implement and enforce this Act on or before January 1,
2024.
SECTION 2. This Act takes effect September 1, 2023.