Bill
HJR 37
85(R) - 2017
House Investments & Financial Services
Senate Business & Commerce
House Investments & Financial Services
Senate Business & Commerce
Banks
Finance
Resolutions
Vote Recommendation
Yes
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Positive
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Neutral
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Positive
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Positive
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Neutral
Author(s)
Eric Johnson
Sponsor(s)
Kelly Hancock
Bill Caption
Proposing a constitutional amendment relating to legislative authority to permit credit unions and other financial institutions to award prizes by lot to promote savings.
Fiscal Notes
No fiscal implication to the State is anticipated, other than the cost of publication.
The cost to the state for publication of the resolution is $114,369.
Bill Analysis
Under current law, the Texas Constitution prohibits lotteries and gift enterprises with some exceptions. HJR 37 would allow credit unions and other financial institutions to conduct promotional activities to promote savings by awarding prizes to their depositors.
Vote Recommendation Notes
HJR 37 upholds our principles of limited government, personal responsibility, and free markets by loosening regulation on the promotional activities credit unions and other financial institutions. The fact that the legislature even needs to act to allow this is a good indicator that Texas has far too much regulation governing things like lotteries, raffles, and gaming. We support HJR 37.
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