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Texas Legislation

In the 82nd regular session of the Texas Legislature in 2011, we are happy to report that seven asset-building related bills were passed into law. Asset-building advocates made a real difference to help all Texans become more financially successful. Please see below the list of asset-building bills filed this session and their outcome.

Signed by Governor

HB 2592 CSO Rep. Truitt
Relating to notice and disclosure requirements for credit services organizations regarding charges and consumer borrowing.

HB 2594 CSO Rep. Truitt
Relating to the registration and regulation of credit services organizations that obtain for consumers certain extensions of credit; providing a penalty.

HB 3708 College Hochberg (Amends SB 1325 Senator Watson and HB 3612 Rep. Turner College Savings Accounts)
Relating to the administration of the Texas Save and Match Program to assist qualifying beneficiaries under the state's prepaid tuition plans and college savings plans and to the treatment of a beneficiary's assets under prepaid tuition plans and college savings plans in determining eligibility for student financial assistance and other assistance programs

HB 34 Post Secondary Education Reps. Branch and Lewis
Relating to including in the public high school curriculum instruction in methods of paying for postsecondary education and training

SB 290 Financial Literacy Senator Watson
Relating to including a personal financial literacy component in certain public school mathematics courses.

HB 399 Financial Literacy Rep. Castro
Relating to requiring general academic teaching institutions to offer personal financial literacy training.

HB 2170 Credit Report Rep. Raymond
Relating to assisting foster children in obtaining and understanding the child's credit report.

Passed the Senate but not the House

SB 63 IDA Senator Zaffirini
Relating to the creation of the individual development account program to provide savings incentives and opportunities for certain foster children to pursue home ownership, postsecondary education, and business development.

SB 1325 Texas Save and Match Senator Watson
Relating to the administration of the Texas Save and Match Program to assist qualifying beneficiaries under the state's prepaid tuition unit program and college savings plans and to the treatment of a beneficiary's assets under a prepaid tuition program or a college savings plan in determining eligibility for student financial assistance and other assistance programs.

Passed out of Either House or Senate Committee

HB 1709 IDAs Reps. Dawnna Dukes and Elliott Naishtat
Relating to the creation of the individual development account program to provide savings incentives and opportunities for certain foster children to pursue home ownership, postsecondary education, and business development.

SB 1862 CSO Senators Davis and West
Relating to the requirements for certain extensions of credit to consumers.

HB 2593 CSO Rep. Truitt
Relating to restrictions on amounts, fees, renewals, and payment of deferred presentment transactions and certain loans secured by motor vehicle certificates of title.

Public hearing held in House or Senate but left Pending in Committee

SB 253 CSO Senator Davis
Relating to the regulation of activities with respect to certain extensions of consumer credit.

SB 251 CSO Senator West
Relating to the regulation of activities with respect to certain extensions of consumer credit.

SB 254 CSO Senator Davis
Relating to the extension of consumer credit to certain members of the Texas National Guard and armed forces of the United States and their dependents; providing a penalty.

HB 410 CSO Reps. Craddick, Callegari, Eddie Rodriguez, McClendon, Sid Miller Co-Authors Reps. Johnson, Kolkhorst, Madden, Marquez
Relating to the regulation of activities with respect to certain extensions of consumer credit.

HB 656 CSO Rep. Farias, Larson, McClendon
Relating to the regulation of activities with respect to certain extensions of consumer credit.

HB 661 CSO Reps. Eddie Rodriguez, Walle, Kolkhorst,  Turner and Harless
Relating to the regulation of activities with respect to certain extensions of consumer credit.

HB 3021 CSOs Rep. Creighton
Relating to best practices for credit services organizations.

SB 517 College Savings Accounts Senator Watson
Relating to the appropriation of unclaimed property to support the Texas Save and Match Program

HB 1001 College Savings Accounts Rep. Morrison
Relating to the appropriation of unclaimed property to support the Texas Save and Match Program

HB 2615 Financial Literacy Adults Rep. Veasey
Relating to the provision of information on financial literacy resources to the public

HB 667 Payroll Card Rep. Hochberg
Relating to the payment of wages by an employer through an electronic transfer of funds to a payroll card account.

HB 1152 Payroll Cards Rep. Guillen
Relating to payments by the comptroller of public accounts to employees, vendors, annuitants, and other recipients of state-issued payments through the electronic funds transfer system or by electronic pay card

HB 3070 Social Loan Program Rep. Veasey
Relating to the creation of a social loan program.

HB 430 Consumer Reporting Agencies Rep. Johnson Relating to the provision of payment history information to consumer reporting agencies.

No Movement in House or Senate Committee

SB 143 CSO Senator West
Relating to the regulation of a credit services organization.

HB 212 CSO Rep. Eddie Rodriguez
Relating to the regulation of a credit services organization

HB 3225 Payday Loans Rep. Hernandez Luna
Relating to the renewal of a deferred presentment transaction.

HB 3226 CSOs and Payday Loans Rep. Hernandez Luna Relating to the regulation of, including fee and installment plan assistance, certain small loans made to consumers.

HB 3165 Payday Loans Rep. Legler
Relating to notice requirements for licensed lenders of deferred presentment transactions and motor vehicle certificate of title loans.

HB 448 Tuition Units for Consumer Service Rep. Lucio III Relating to the establishment of a pilot program under which high school students may accrue prepaid tuition units at public institutions of higher education by completing certain community service activities.

SB 114 Financial Literacy Senator Davis
Relating to the expansion of the financial literacy pilot program in public schools.

SB 1637 Credit Report Senator Davis
Relating to assisting foster children in obtaining and understanding the child's credit report.

HB 3232 Financial Literacy Hernandez Luna
Relating to including a personal financial literacy component in certain public school mathematics courses.

Adopted by the Senate

SR 336 Texas Saves Week Senator Lucio
Resolution passed recognizing February 20 through 27, 2011, as Texas Saves Week

Adopted by the House

HR 495 Texas Saves Week Rep. Woolley
Resolution passed recognizing February 20 through 27, 2011, as Texas Saves Week