Texas legislation · 89th Legislature Regular Session
Texas SB1361: Relating to a disaster recovery loan program for small and micro-businesses.
Status: Passed one chamber, May 14, 2025
What the bill says
An act relating to a disaster recovery loan program for small and micro-businesses.
From the amended text, May 24, 2025:
A BILL TO BE ENTITLED AN ACT relating to a disaster recovery loan program for small and micro-businesses. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. The heading to Subchapter CC, Chapter 481, Government Code, is amended to read as follows: SUBCHAPTER CC.[ADDED: SMALL- AND]MICRO-BUSINESS DISASTER RECOVERY PROGRAM SECTION 2. Section 481.451, Government Code, is amended by amending Subdivisions (3), (4), (6), and (7) and adding Subdivision (8) to read as follows: (3) "Default rate" means the percentage of[ADDED: small- and] micro-business disaster recovery loans made that did not meet the payment terms during a period specified by the bank. (4) "Fund" means the[ADDED: small- and]micro-business recovery fund established under Section 481.452. (6) "[ADDED: Small- and micro-business][[DELETED: Micro-business]] disaster recovery loan" or "disaster recovery loan" means a loan made by a participating community development financial institution to[ADDED: small businesses or]micro-businesses under the program. (7) "Program" means the[ADDED: small- and]micro-business disaster recovery loan program established under this subchapter. [ADDED: (8)][ADDED: ][ADDED: ][ADDED: "Small business" means a corporation, ] [ADDED: partnership, sole proprietorship, or other legal entity that:] [ADDED: (A)][ADDED: ][ADDED: ][ADDED: is domiciled in this state or has at least 51 ] [] [] [ and] [ADDED: (D)][ADDED: ][ADDED: ][ADDED: employs more than 20 and fewer than 100 ] [ADDED: full-time employees.] SECTION 3. The heading …
Sponsors
- Carol Alvarado (D, SD-006) · primary sponsor
- Cesar Blanco (D, SD-029)
- Nathan Johnson (D, SD-016)
- Royce West (D, SD-023)
- Angie Button (R, HD-112)
Latest actions
- : Placed on General State Calendar
- : Considered in Calendars
- : Committee report sent to Calendars
- : Committee report distributed
- : Comte report filed with Committee Coordinator
- : Reported favorably w/o amendment(s)
- : Considered in formal meeting
- : Left pending in committee
- : Testimony taken/registration(s) recorded in committee
- : Considered in public hearing
Votes
- Trade, Workforce & Economic Development Committee Vote (Out of committee): 7 yea, 1 nay, passed
- Business & Commerce Committee Vote (Out of committee): 11 yea, 0 nay, passed
Subjects: Business & Commerce--Small Business & Minority Business, State Finances--Management & Control, Financial--General, Disaster Preparedness & Relief, LOANS, MICRO-BUSINESSES
Common questions
- What is SB1361?
- SB1361 is a bill in the Texas Legislature (89th Legislature Regular Session): Relating to a disaster recovery loan program for small and micro-businesses.
- What does SB1361 do?
- In its own words: An act relating to a disaster recovery loan program for small and micro-businesses.
- What is the status of SB1361?
- Passed one chamber as of May 14, 2025. Latest action: Placed on General State Calendar (May 27, 2025).
- Who sponsored SB1361?
- Carol Alvarado (D, SD-006), with 4 co-sponsors.
- Where is the official record for SB1361?
- On the Texas Legislature website: https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SB01361
Source: official Texas record. Tracked by Delilah, AI for legislation across all 50 states and Congress.