By Ellis                                               S.B. No. 844
       74R5939 CLG-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the creation of the office of access to financial
    1-3  services within The Finance Commission of Texas.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Chapter I, The Texas Banking Code (Article
    1-6  342-101 et seq., Vernon's Texas Civil Statutes), is amended by
    1-7  adding Article 11D to read as follows:
    1-8        Art. 11D.  OFFICE OF ACCESS TO FINANCIAL SERVICES.  (a)  The
    1-9  office of access to financial services is created in the Finance
   1-10  Commission to inform, monitor, and report about the availability
   1-11  and quality of financial services, including lending and depository
   1-12  services, offered by financial institutions in the state to
   1-13  agricultural businesses, small businesses, and individual consumers
   1-14  in the state.
   1-15        (b)  The office shall be headed by a financial services
   1-16  counsel appointed by the Finance Commission.
   1-17        (c)  The Finance Commission shall adequately staff the office
   1-18  to carry out the office's functions under this article.
   1-19        (d)  The office shall:
   1-20              (1)  conduct research on the availability, quality, and
   1-21  prices of financial services, including lending and depository
   1-22  services, offered by financial institutions in the state to
   1-23  agricultural businesses, small businesses, and individual consumers
   1-24  in the state; and
    2-1              (2)  conduct research on the practices of business
    2-2  entities in the state that provide financial services to
    2-3  agricultural businesses, small businesses, and individual consumers
    2-4  in the state.
    2-5        (e)  The office shall prepare information of public interest
    2-6  describing the functions of the office.  The office shall make the
    2-7  information available to the public and appropriate state and
    2-8  federal agencies.
    2-9        (f)  Not later than December 1 of each even-numbered year,
   2-10  the office shall provide to the legislature a report detailing the
   2-11  findings of the office and recommending any action the office
   2-12  believes is necessary to enhance the availability and quality of
   2-13  financial services offered by business entities in the state to
   2-14  agricultural businesses, small businesses, and individual consumers
   2-15  in the state.
   2-16        SECTION 2.  The Finance Commission of Texas shall appoint the
   2-17  financial services counsel as required by Article 11D, Chapter I,
   2-18  The Texas Banking Code (Article 342-101 et seq., Vernon's Texas
   2-19  Civil Statutes), as added by this Act, not later than November 1,
   2-20  1995.
   2-21        SECTION 3.  This Act takes effect September 1, 1995.
   2-22        SECTION 4.  The importance of this legislation and the
   2-23  crowded condition of the calendars in both houses create an
   2-24  emergency and an imperative public necessity that the
   2-25  constitutional rule requiring bills to be read on three several
   2-26  days in each house be suspended, and this rule is hereby suspended.