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IIB
117TH CONGRESS
1ST SESSION H. R. 1443
IN THE SENATE OF THE UNITED STATES
JULY 12, 2021
Received; read twice and referred to the Committee on Banking, Housing, and
Urban Affairs
AN ACT
To amend the Equal Credit Opportunity Act to require the
collection of small business loan data related to LGBTQ-
owned businesses.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘LGBTQ Business
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Equal Credit Enforcement and Investment Act’’.
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SEC. 2. SMALL BUSINESS LOAN DATA COLLECTION.
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Section 704B of the Equal Credit Opportunity Act
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(15 U.S.C. 1691c–2) is amended—
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(1) by inserting ‘‘LGBTQ-owned,’’ after ‘‘mi-
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nority-owned,’’ each place such term appears;
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(2) in subsection (e)(2)(G), by inserting ‘‘, sex-
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ual orientation, gender identity’’ after ‘‘sex’’; and
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(3) in subsection (h), by adding at the end the
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following:
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‘‘(7) LGBTQ-OWNED
BUSINESS.—The term
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‘LGBTQ-owned business’ means a business—
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‘‘(A) more than 50 percent of the owner-
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ship or control of which is held by 1 or more
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individuals self-identifying as lesbian, gay, bi-
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sexual, transgender, or queer; and
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‘‘(B) more than 50 percent of the net prof-
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it or loss of which accrues to 1 or more individ-
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uals self-identifying as lesbian, gay, bisexual,
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transgender, or queer.’’.
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SEC. 3. DETERMINATION OF BUDGETARY EFFECTS.
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The budgetary effects of this Act, for the purpose of
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complying with the Statutory Pay-As-You-Go Act of 2010,
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shall be determined by reference to the latest statement
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HR 1443 RFS
titled ‘‘Budgetary Effects of PAYGO Legislation’’ for this
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Act, submitted for printing in the Congressional Record
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by the Chairman of the House Budget Committee, pro-
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vided that such statement has been submitted prior to the
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vote on passage.
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Passed the House of Representatives June 24, 2021.
Attest:
CHERYL L. JOHNSON,
Clerk.
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