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I
117TH CONGRESS
1ST SESSION H. R. 1659
To amend the Equal Credit Opportunity Act to require the collection of
small business loan data related to LGBTQ-owned businesses.
IN THE HOUSE OF REPRESENTATIVES
MARCH 8, 2021
Mr. TORRES of New York (for himself, Mr. AUCHINCLOSS, Mr. BLUMENAUER,
Ms. BONAMICI, Ms. CASTOR of Florida, Mr. CICILLINE, Ms. CLARKE of
New York, Ms. DELBENE, Ms. ESHOO, Mr. ESPAILLAT, Ms. GARCIA of
Texas, Mr. GARCI´A of Illinois, Mr. GRIJALVA, Mr. HASTINGS, Mrs.
HAYES, Mr. JOHNSON of Georgia, Mr. JONES, Mr. KHANNA, Ms. LEGER
FERNANDEZ, Mr. LOWENTHAL, Mrs. CAROLYN B. MALONEY of New
York, Mr. MCGOVERN, Ms. MOORE of Wisconsin, Mr. NADLER, Ms. NOR-
TON, Mr. PAPPAS, Mr. PAYNE, Mr. RASKIN, Ms. SCANLON, Ms. SCHA-
KOWSKY, Ms. STRICKLAND, Ms. VELA´ZQUEZ, Mrs. WATSON COLEMAN,
Ms. TITUS, Mr. MEEKS, Mr. TONKO, and Ms. CHU) introduced the fol-
lowing bill; which was referred to the Committee on Financial Services
A BILL
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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•HR 1659 IH
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 ‘‘(in-
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cluding sexual orientation and gender identity),’’
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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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Æ
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