Bill

HB 2008

85(R) - 2017
House Investments & Financial Services
Senate Veteran Affairs & Border Security
Read Bill & Check Bill Status
House Investments & Financial Services
Senate Veteran Affairs & Border Security
Finance
Military
Veterans

Vote Recommendation

No
  • Neutral
  • Neutral
  • Neutral
  • Negative
  • Neutral

Author(s)

Scott Cosper

Sponsor(s)

Dawn Buckingham

Bill Caption

Relating to deferred presentment transactions made to military borrowers.

Fiscal Notes

No fiscal implication to the state is anticipated.

Bill Analysis

HB 2008 would amend the Finance Code to prohibit a lender who engages in a deferred presentment transaction with a member of the U.S. military or a dependent of a member from charging interest unless agreed to under the terms of the credit agreement or promissory note.

Vote Recommendation Notes

This legislation is an attempt to enforce federal policy through state law. Enforcing federal law pertaining to contracts is not the job of the state government. This bill would also interfere in the private agreements between two willing parties. This also is not the proper role of state government. For these reasons we oppose HB 2008.

Organizations Supporting

Center for Public Policy Priorities
Texas Catholic Conference of Bishops
Texas Municipal League
United Way