Dallas Partner Kevin Twining, Co-Chair of Locke Lord’s Public Finance Practice Group, shared insight with The Bond Buyer on Texas’ Senate Bill 19, a law that will soon require companies receiving state contracts to verify that they do not discriminate against the firearms industry. Commenting on the law’s potential impacts on the municipal bond industry, Twining noted the new law creates opportunity for bond offerings to fail if the Attorney General takes the position that a party involved fails to meet this criteria.
“Bonds of Texas have to be approved by the attorney general’s office,” said Twining. “Our concern — issuers, bond counsel or others — is that we can make that representation, but the AG may not approve of it,” Twining said, noting this would lead to breaking a lot of contracts.
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