SRC-CDH H.B. 3078 75(R) BILL ANALYSIS Senate Research Center H.B. 3078 By: Oliveira (Sibley) Economic Development 5-17-97 Engrossed DIGEST In recent federal legislation, the office of thrift supervision which regulates federal S&Ls and savings banks substantially broadened the qualified thrift lender test (QTL), which is the asset composition test used to quantify a financial institution as a thrift. Federal thrift continues to be required to focus on housing lending, but the categories related to educational loans, small business loans, and consumer loans have been broadened legislatively. H.B. 3078 will provide parity for Texas savings banks for revised QTL rules applicable to federal thrift. PURPOSE As proposed, H.B. 3078 establishes provisions regarding an incorporation requirement of a state savings bank. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 2.03, Article 489e, V.T.C.S., as follows: Sec. 2.03. New heading: STATUS AS THRIFT INSTITUTION. Requires a savings bank to qualify for and maintain the asset test of Section 7701(a)(19) of the Internal Revenue Code of 1986 (26 U.S.C. Section 7701(a)(19)); or the qualified thrift lender test of Section 10(m) of the Home Owners' Loan Act (12 U.S.C. Section 1467a(m)). Authorizes the Savings and Loan Commissioner (commissioner) to grant temporary or limited exceptions to the requirements of this section as the commissioner considers necessary. SECTION 2. Emergency clause.