Texas 2019 - 86th Regular

Texas Senate Bill SB862

Caption

Relating to the contents of personal financial statements filed with the Texas Ethics Commission.

Impact

The primary impact of SB862 on state laws is the clarification and expansion of the types of financial information that must be disclosed by individuals subject to the Commission's oversight. By explicitly outlining the required contents of financial statements, the bill seeks to reduce ambiguity and enhance compliance among public officials. This increased level of detail in financial disclosures is expected to provide voters with a clearer understanding of potential conflicts of interest and the economic activities of those in public office.

Summary

Senate Bill 862 aims to amend the existing regulations concerning the contents of personal financial statements that are to be filed with the Texas Ethics Commission. The bill specifies detailed categories of financial activity, including sources of income, holdings of stock and trust assets, and financial liabilities, among other disclosures. This amendment intends to enhance transparency and accountability for public officials and candidates by requiring comprehensive reporting of their financial dealings.

Contention

While the bill seeks to bolster financial transparency, it may face contention regarding the burden it places on those required to file these statements. Critics may argue that the extensive requirements could be overly cumbersome, especially for smaller public officials or candidates who may not have complex financial situations. Additionally, there could be concerns related to privacy and the public's access to detailed personal financial information, which some may view as an invasion of privacy. Thus, while the goal is to enhance transparency, the method of achieving it through detailed disclosures remains a matter of debate.

Companion Bills

No companion bills found.

Previously Filed As

TX HB4053

Relating to the contents of the personal financial statement filed by public officers and candidates.

TX SB320

Relating to complaints filed with the Texas Ethics Commission.

TX HB1441

Relating to the inclusion of the mailing address of certain campaign treasurers in appointments and reports filed with the Texas Ethics Commission.

TX HB1585

Relating to matters affecting the powers and duties of the Texas Ethics Commission.

TX SB2070

Relating to the funding of projects by the Public Utility Commission of Texas to promote the reliability and resiliency of the power grid in this state; authorizing the issuance of revenue bonds.

TX HB2843

Relating to the authorization, licensing, and regulation of casino gaming and sports wagering in this state, to the creation, powers, and duties of the Texas Gaming Commission, to the support of the horse racing industry and reform of horse racing and greyhound racing, and to other provisions related to gambling; imposing and authorizing administrative and civil penalties; imposing taxes; imposing and authorizing fees; requiring occupational licenses; creating criminal offenses.

TX SB1246

Relating to authorized investments of public money by certain governmental entities and the confidentiality of certain information related to those investments.

TX SB895

Relating to the regulation of money services businesses; creating a criminal offense; creating administrative penalties; authorizing the imposition of a fee.

TX HB3573

Relating to modernizing the regulation of money services businesses.

TX HB1828

Relating to public access to personal financial statements filed by public officials and candidates.

Similar Bills

TX HB16

Relating to the ethics of public servants, including the authority and duties of the Texas Ethics Commission, the regulation of certain contributions and expenditures, and the reporting of political contributions and political expenditures and personal financial information; creating a criminal offense.