HOUSE BILL 1414 |
HOUSE AUTHOR: Van de Putte et al. |
EFFECTIVE: 09-01-97 |
SENATE SPONSOR: Ellis |
House Bill 1414 creates the Community Reinvestment work group to work with the state banking community to develop, monitor, and evaluate strategies that encourage banks to lend money to low- and moderate-income families and individuals in a manner that meets the requirements of the federal Community Reinvestment Act of 1977 and complements existing programs. The work group is comprised of appointees from the comptroller's office and the Texas departments of housing and community affairs, banking, commerce, and insurance and is required to consult and coordinate with the appropriate federal authorities in carrying out its functions.