summary
Introduced
04/05/2022
04/05/2022
In Committee
04/05/2022
04/05/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQ- owned businesses.
AI Summary
This bill, the LGBTQ Business Equal Credit Enforcement and Investment Act, amends the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQ-owned businesses. Specifically, it adds "LGBTQ-owned" alongside "minority-owned" in the existing data collection requirements, and defines an "LGBTQ-owned business" as one where more than 50% of the ownership or control is held by individuals who self-identify as lesbian, gay, bisexual, transgender, or queer, and more than 50% of the net profit or loss accrues to such individuals. This data collection aims to help ensure equal access to credit for LGBTQ-owned small businesses.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 04/05/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/4002/all-info |
| BillText | https://www.congress.gov/117/bills/s4002/BILLS-117s4002is.pdf |
| Bill | https://www.congress.gov/117/bills/s4002/BILLS-117s4002is.pdf.pdf |
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