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Raise Texas

Policy

Savings Accounts

Sustainability is an issue that every savings program will face at one time or another. For this reason, this should be a focus area for our state efforts in supporting both state and federal policies to help aid Texas savings programs through the years. Below are two specific policies that the Savings working group will support and promote regarding savings programs if they are introduced in the current session.

  • State legislation to help provide funding opportunities at a non-federal level and designed to reach as many Texas savings programs as possible.

There will be many opportunities to get involved and take action to promote the Savings Accounts legislation throughout the session. Visit this page often for updates and action items, or sign up to receive our policy updates by email.

Bills Related to Savings that Passed in the 2017 Legislative Session

SB 377 Sen. Perry 
Related to the Texas Achieving a Better Life Experience (ABLE) Program. 
05/29/2017 Signed by the Governor and effective immediately


HB 471 Rep. E. Johnson 
Relating to authorizing a credit union or other financial institution to conduct savings promotion raffles. 
06/15/2017 Signed by the Governor and will be effective on the adoption of constitutional amendment (HJR 37)

House Joint Resolution (HJR) 37 Rep. E. Johnson 
Proposing a constitutional amendment relating to legislative authority to permit credit unions and other financial institutions to award prizes by lot to promote savings.
05/24/2017 Filed with the Secretary of State

Proposition 7
The ballot for Proposition 7 read: "The constitutional amendment relating to legislative authority to permit credit unions and other financial institutions to award prizes by lot to promote savings."
11/7/2017 Passed by the voters during the election

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