By: Sparks S.B. No. 621
(In the Senate - Filed December 13, 2024; February 3, 2025,
read first time and referred to Committee on Local Government;
March 17, 2025, reported favorably by the following vote: Yeas 5,
Nays 1; March 17, 2025, sent to printer.)
Click here to see the committee vote
A BILL TO BE ENTITLED
AN ACT
relating to a prohibition on the establishment, operation, or
ownership of a public bank by a political subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 140, Local Government Code, is amended
by adding Section 140.014 to read as follows:
Sec. 140.014. PROHIBITION ON PUBLIC BANK. Notwithstanding
any other law, a political subdivision may not establish, operate,
or own an organization or entity that is organized for the purpose
of engaging in banking as defined by Section 31.002, Finance Code.
SECTION 2. This Act takes effect September 1, 2025.
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