HB 1628

84(R) - 2015
House Investments & Financial Services
House Investments & Financial Services
Investment & Financial Services

Vote Recommendation

  • Positive
  • Neutral
  • Neutral
  • Positive
  • Positive


Eric Johnson


Giovanni Capriglione
John Kuempel
Oscar Longoria
Eddie Lucio III

Bill Caption

Relating to authorizing a credit union or other financial institution to conduct savings promotion raffles.

Fiscal Notes

No fiscal implication to the State is anticipated.

Bill Analysis

HB 1628 would establish the Texas Savings Promotion Act. This act would allow credit unions and financial institutions to conduct a savings promotion raffle. A saving promotion raffle would be a raffle used by a credit union or financial institution in which “a chance of winning a designated prize is the deposit of at least a specified amount of money in a savings account or other savings program.”   

Vote Recommendation Notes

We support HB 1628 because it aligns with our free market principle, individual liberty principle, and limited government principle. Ultimately, private sector businesses and charities should not have to seek legislative approval to hold raffles. To the extent that they are required to seek legislative approval, it is liberty-enhancing to grant the approval. In the long run it would be best to get the state out of the raffle regulating business altogether.

The Senate chamber sponsor is Senator Rodríguez.

Organizations Supporting

Center for Public Policy Priorities
Credit Union Coalition of Texas
Independent Bankers Association of Texas
Texas Bankers Association
Texas Impact