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House Bill 1443
117th Congress(2021-2022)
LGBTQ Business Equal Credit Enforcement and Investment Act
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Passed House on Jun 24, 2021
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H. R. 1443 (Reported-in-House)

Union Calendar No. 46

117th CONGRESS
1st Session
H. R. 1443

[Report No. 117–65]


To amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQ-owned businesses.

IN THE HOUSE OF REPRESENTATIVES

February 26, 2021

Mr. Torres of New York (for himself, Mr. Auchincloss, Mr. Blumenauer, Ms. Bonamici, Ms. Castor of Florida, Mr. Cicilline, Ms. Clarke of New York, Ms. DelBene, Ms. Eshoo, Mr. Espaillat, Ms. Garcia of Texas, Mr. García of Illinois, Mr. Grijalva, Mr. Hastings, Mrs. Hayes, Mr. Johnson of Georgia, Mr. Jones, Mr. Khanna, Ms. Leger Fernandez, Mr. Lowenthal, Mrs. Carolyn B. Maloney of New York, Mr. McGovern, Ms. Moore of Wisconsin, Mr. Nadler, Ms. Norton, Mr. Pappas, Mr. Payne, Mr. Raskin, Ms. Scanlon, Ms. Schakowsky, Ms. Strickland, Ms. Velázquez, Mrs. Watson Coleman, Ms. Titus, Mr. Meeks, and Mr. Tonko) introduced the following bill; which was referred to the Committee on Financial Services

June 17, 2021

Additional sponsors: Ms. Chu, Ms. Davids of Kansas, Mr. Pocan, Mr. Malinowski, Ms. Williams of Georgia, and Mr. Kilmer

June 17, 2021

Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

[Strike out all after the enacting clause and insert the part printed in italic]

[For text of introduced bill, see copy of bill as introduced on February 26, 2021]

A BILL

To amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQ-owned businesses.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “LGBTQ Business Equal Credit Enforcement and Investment Act”.

SEC. 2. Small business loan data collection.

(a) In general.—Section 704B of the Equal Credit Opportunity Act (15 U.S.C. 1691c–2) is amended—

(1) by inserting “LGBTQ-owned,” after “minority-owned,” each place such term appears;

(2) in subsection (e)(2)(G), by inserting “, sexual orientation, gender identity” after “sex”; and

(3) in subsection (h), by adding at the end the following:

“(7) LGBTQ-OWNED BUSINESS.—The term ‘LGBTQ-owned business’ means a business—

“(A) more than 50 percent of the ownership or control of which is held by 1 or more individuals self-identifying as lesbian, gay, bisexual, transgender, or queer; and

“(B) more than 50 percent of the net profit or loss of which accrues to 1 or more individuals self-identifying as lesbian, gay, bisexual, transgender, or queer.”.

(b) Sense of Congress.—It is the sense of the Congress that the term “sex”, as used within the Equal Credit Opportunity Act, includes an individual’s sexual orientation and gender identity, and that this Act, in part, clarifies that the sex, sexual orientation, and gender identity of the principal owners of a business should be collected under section 704B of the Equal Credit Opportunity Act as three separate forms of information.

Union Calendar No. 46

117th CONGRESS
     1st Session
H. R. 1443
[Report No. 117–65]
A BILL
To amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQ-owned businesses.
June 17, 2021
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed