II 118th CONGRESS 1st Session S. 3421 IN THE SENATE OF THE UNITED STATES December 6, 2023 Mrs. Gillibrand (for herself and Mr. Padilla ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQI-owned businesses.

1. Short title This Act may be cited as the LGBTQI Business Equal Credit Enforcement and Investment Act . 2. 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. .