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A BILL TO BE ENTITLED
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AN ACT
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relating to notice to consumers when a financial institution |
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generates or collects prohibited firearm or ammunition purchase |
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information. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 271 Finance Code, is amended to add |
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Section 271.007 as follows: |
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Sec. 271.007. NOTICE TO CONSUMERS REGARDING FIREARM OR |
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AMMUNITION TRANSACTIONS. (a) Any international or domestic |
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merchant category code used in commerce in Texas or by a Texas |
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person to purchase firearms or ammunition shall only identify the |
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items purchased using a merchant category code indicating sporting |
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goods acquirement, and a financial institution shall not generate |
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or collect any customer personal identifying information except to |
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identify the purchases as sporting goods. |
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(b) A financial institution shall notify a customer in |
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writing each time any personal identifying customer information is |
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collected or generated in violation of Subsection (a). |
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(c) In this section: |
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(1) "Customer" has the meaning assigned by Section |
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59.001, Finance Code. |
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(2) "Financial institution" has the meaning assigned |
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by Section 201.101, Finance Code. |
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(d) The Finance Commission of Texas shall adopt all rules |
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necessary to implement and enforce this Act on or before January 1, |
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2024. |
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SECTION 2. This Act takes effect September 1, 2023. |