118 S3421 IS: LGBTQI Business Equal Credit Enforcement and Investment Act U.S. Senate 2023-12-06 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II118th CONGRESS1st SessionS. 3421IN THE SENATE OF THE UNITED STATESDecember 6, 2023Mrs. Gillibrand (for herself and Mr. Padilla) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban AffairsA BILLTo amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQI-owned businesses.

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Short title

This Act may be cited as the LGBTQI Business Equal Credit Enforcement and Investment Act.

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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..