The House Committee on Investments & Financial Services

84th Legislature

April 12, 2016

1:00 p.m.

1845 E. Northgate Dr., SB Hall Rm 122, Irving, TX

Pursuant to a notice posted on March 24, 2016, the House Committee on Investments & Financial Services met in a public hearing and was called to order by the chair, Representative Parker, at 1:07 p.m.

The initial quorum call was answered as follows: Representatives Parker; Capriglione; Landgraf; Pickett; and Stephenson.

A quorum was present.

The Committee heard invited testimony on the following interim charge: Examine the current investment climate and resources available to businesses in Texas. Analyze the effectiveness of existing programs and whether current investment tools are bringing new businesses and new jobs to Texas, and determine whether the current programs are helping established businesses in Texas create jobs. Identify barriers to investment opportunities faced by businesses and investors. This analysis should include but not be limited to: angel investing, crowdfunding, micro-lending, private equity, venture capital, and mezzanine investing. Make appropriate recommendations to ensure investment tools in Texas continue to evolve to help bring jobs to Texas and meet the needs of new and existing businesses in Texas. 

Testimony taken/registration recorded.  (See attached witness list.)

            The Committee heard invited testimony on the following interim charge: Study the current state of cybersecurity of financial institutions in Texas. Review state and federal laws, and evaluate what additional steps need to be taken to make financial institutions in Texas more secure.

Testimony taken/registration recorded.  (See attached witness list.)

The Committee heard invited testimony on the following interim charge: Study the impact on local communities when community banks are consolidated and how this changes the landscape of banking in Texas. Evaluate how the state can help expand charter opportunities in Texas.

Testimony taken/registration recorded.  (See attached witness list.)

At 5:25 p.m., on the motion of the chair and without objection, the meeting was adjourned subject to the call of the chair.

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Rep. Parker, Chair

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Julie Young, Clerk