H. R. 3374
IN THE HOUSE OF REPRESENTATIVES
June 20, 2019
Mr. Rouda (for himself, Ms. Jackson Lee, Ms. Wilson of Florida, Ms. Haaland, and Mr. Cox of California) introduced the following bill; which was referred to the Committee on Financial Services
To amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQ-owned businesses.
This Act may be cited as the
LGBTQ Business Equal Credit Enforcement and Investment Act.
Small business loan data collection
Section 704B of the Equal Credit Opportunity Act (15 U.S.C. 1691c–2) is amended—
minority-owned, each place such term appears;
in subsection (e)(2)(G), by inserting
(including sexual orientation and gender identity), after
in subsection (h), by adding at the end the following:
LGBTQ-owned business means a business—
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
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.