[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3421 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 3421

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            December 6, 2023

Mrs. Gillibrand (for herself and Mr. Padilla) introduced the following 
 bill; which was read twice and referred to the Committee on Banking, 
                       Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend the Equal Credit Opportunity Act to require the collection of 
      small business loan data related to LGBTQI-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 ``LGBTQI Business Equal Credit 
Enforcement and Investment Act''.

SEC. 2. SMALL BUSINESS LOAN DATA COLLECTION.

    Section 704B of the Equal Credit Opportunity Act (15 U.S.C. 1691c-
2) is amended--
            (1) by inserting ``LGBTQI-owned,'' after ``minority-
        owned,'' each place such term appears;
            (2) in subsection (e)(2)(G), by inserting ``, sexual 
        orientation, gender identity, intersex status'' after ``sex''; 
        and
            (3) in subsection (h), by adding at the end the following:
            ``(7) LGBTQI-owned business.--The term `LGBTQI-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, 
                queer, or intersex; 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, 
                queer, or intersex.''.
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