With Small Business being a part of our five pillars, SAHCC strives to advocate for our more than 900 members, mostly small businesses and locally owned organizations. Due to this untimely pandemic, many small businesses faced multiple uncertainties regarding their companies. One of SAHCC’s top priorities for the 87th Texas Legislative Session was to support bills which “provide economic relief to small businesses that have been adversely impacted by COVID-19.” Three bills which have now been signed into law, SB 678, HB 1195, and HB 3271, achieve this goal.

SB 678:

 The coronavirus pandemic put a heavy strain on many Texan businesses, and even caused some to close their doors. Federal financial relief programs were delayed in their roll out and quickly exhausted due to high demand and limited supply. SB 678 addresses these shortcomings by generating a small business disaster recovery loan program for the state of Texas. SB 678 will produce a fund which provides financial assistance (in the form of loans) to small businesses affected by a disaster. The bill instructs the comptroller to “implement an application, rules, and guidelines governing the fund, program, and loans made to small businesses through the program.”

Senate Bill 678 was authored by Senator Alvarado and was signed into law on June 16, 2021; the bill will become effective on September 1, 2021.

HB 1195:

In response to COVID-19, Congress established the Paycheck Protection Program through the CARES Act to support small businesses. However, concerns by business owners began to grow with questions concerning whether the loans provided to them by the Paycheck Protection Program would be subject to franchise taxes. 

The passing of House Bill 1195 provided small businesses with the reassurance they needed. Authored by Representatives Geren, Goldman, Frullo, Meyer, and Bonnen, House Bill 1195 ensures loans distributed under the Paycheck Protection Program would be offered forgiveness for franchise tax purposes. Thus, protecting small businesses from an unexpected tax increase. House Bill 1195 supports the livelihood of small businesses. The San Antonio Hispanic Chamber of Commerce was elated by the advancement of H.B. 1195 and proud to show support. House Bill 1195 passed in both chambers and was signed into law by the Governor on May 11^th, 2021.

HB 3271:

This bill will create a Micro Business Capital Access Program to increase access to capital for businesses with fewer than 20 employees. The Micro Business Capital Access Program will create a state revolving loan fund in collaboration with Community Development Financial Institutions (CDFI) to issue low interest loans to micro-businesses. The creation of this micro-business capital access program will continue strengthening micro businesses in San Antonio and across Texas. In San Antonio, there is an unmet annual demand of about $8.3 billion in capital for small businesses, this bill will help close this gap.

About the San Antonio Hispanic Chamber of Commerce:

Founded in 1929, America’s first Hispanic Chamber and San Antonio’s only Five-Star accredited organization by the U.S. Chamber of Commerce, the San Antonio Hispanic Chamber of Commerce continues to be the leader in business assistance, connecting its members to needed resources, providing procurement, marketing and networking opportunities, advocating for legislation affecting small businesses and corporations in the San Antonio metropolitan area, and better training to develop the skills of our local workforce.