By Giddings H.R. No. 330
74R18 KMP-D
R E S O L U T I O N
1-1 WHEREAS, With dynamic young firms currently generating more
1-2 than one-half of all new jobs in the South, the success of small,
1-3 independent businesses helps ensure job growth, prosperity, and
1-4 economic security for the citizens of Texas; and
1-5 WHEREAS, Despite their many contributions to the state's
1-6 economy, small businesses in Texas often are at a disadvantage in
1-7 obtaining start-up capital from local lending institutions; banks
1-8 typically invest in large, income-oriented companies that
1-9 distribute profits among investors, rather than in small,
1-10 growth-oriented companies that reinvest profits in expansion,
1-11 research, and development; and
1-12 WHEREAS, By using its depositors' funds to give loans to
1-13 local, growth-oriented companies, a bank can contribute to the
1-14 long-term economic development of the community that sustains it;
1-15 investment in local business increases a bank's contacts and
1-16 resources within the community, and also helps create a strong,
1-17 stable local economy that is less vulnerable to external economic
1-18 forces; now, therefore, be it
1-19 RESOLVED, That the House of Representatives of the 74th Texas
1-20 Legislature hereby encourage Texas banks and other lending
1-21 institutions to grant more loans to small, growth-oriented
1-22 enterprises in their communities in order to promote economic
1-23 development and job growth throughout the state of Texas.