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Bill

S 114

CLEAR Act of 2025

119th Congress Introduced by Marsha Blackburn

Bill S 114 prohibits state-chartered banks from investing in or financing private prisons, aiming to enhance accountability and promote social justice in the criminal justice system.

Introduced in Senate
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WeVote Research Nonpartisan
Bill Summary · S 114

Summary of Bill S 114

Bill Number: S 114
Title: Prohibits state chartered banking institutions from investing in and providing financing for private prisons
Status: Referred to Codes
Introduced: January 08, 2025
Classification: Bill

Purpose and Intent

Bill S 114 aims to prohibit state-chartered banking institutions from investing in or providing financing for private prisons. The intent behind this legislation is to address concerns regarding the privatization of incarceration and its implications on public safety, rehabilitation, and social justice. By restricting financial support for private prisons, the bill seeks to promote accountability and transparency in the criminal justice system.

Key Provisions

  • Investment Restrictions: The bill explicitly prohibits state-chartered banks from investing in private prison companies or providing them with financial services.
  • Financing Limitations: It bars these institutions from offering loans, credit, or any form of financing to private prison facilities.
  • Compliance Requirements: Banking institutions will be required to report their compliance with this prohibition, ensuring transparency in their investment practices.

Affected Parties

  • State Chartered Banks: These financial institutions will need to adjust their investment strategies and financial practices to comply with the new restrictions.
  • Private Prisons: The legislation directly impacts private prison companies by limiting their access to capital and financial resources.
  • Public Policy Advocates: Organizations and individuals advocating for criminal justice reform may see this bill as a positive step towards reducing the influence of profit motives in incarceration.

Legislative Timeline

  • January 08, 2025: Bill S 114 was introduced and referred to the Banks Committee.
  • February 04, 2025: The bill was placed on the first report calendar.
  • February 05, 2025: It advanced to the second report calendar.
  • February 10, 2025: The bill advanced to a third reading.
  • May 21, 2025: The bill passed the Senate and was delivered to the Assembly.
  • May 22, 2025: The bill was referred to the Codes Committee for further consideration.

Related Bills

  • S 8722 (prior-session)
  • S 8073 (prior-session)
  • S 1015 (prior-session)
  • S 205 (prior-session)
  • A 4144 (companion)

Conclusion

Bill S 114 represents a significant legislative effort to restrict financial support for private prisons by state-chartered banks. By doing so, it aims to foster a more equitable and accountable criminal justice system. The bill is currently under consideration in the Codes Committee following its passage in the Senate.

Compiled from official sources — confirm details with the bill’s official record.

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