SB 19: Texas Prohibits State Contracts with Financial Institutions that Boycott Firearms Companies
Summary
SB 19, enacted in June 2021, prohibits government entities from contracting with companies that have policies that restrict business with the firearms industry. The law specifically targets banks and other financial institutions that have at least ten employees and are seeking government contracts of at least $100,000. Under the law, such institutions are required to provide written verification that they do not have practices, policies, guidance, or directives that "discriminate" against a firearm entity or firearm trade association.
"Discriminate" under the law means refusing to engage in the trade of goods and services or refraining from continuing or terminating an existing business relationship with an entity solely based on the fact that it is a firearm entity or firearm trade association.
Impacted Sectors
Additional Information
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