TX
Texas House Bill HB1595

Texas 2021 - 87th Regular

Texas House Bill HB1595

Caption

Relating to increasing the criminal penalties for insider trading and other misuse of official information.

Impact

If passed, HB 1595 would create a more stringent legal framework for addressing insider trading. Under the new structure, the severity of the felony would escalate based on the net pecuniary gain: third-degree felonies for gains below $150,000, second-degree felonies for amounts between $150,000 and $300,000, and first-degree felonies for gains surpassing $300,000. This tiered approach is designed to deter individuals from engaging in insider trading and to reflect the serious nature of exploiting privileged information for personal gain.

Summary

House Bill 1595 aims to enhance the penalties for offenses related to insider trading and the misuse of official information in the state of Texas. The bill proposes amendments to Section 39.06 of the Texas Penal Code, which traditionally classified offenses under this section as a felony of the third degree. However, the proposed legislation introduces a tiered penalty structure based on the financial gains (pecuniary gain) obtained from such offenses. This change marks a significant shift in how these crimes are prosecuted and penalized, potentially leading to more severe consequences for violators.

Contention

While the bill may gain support for its tough stance against insider trading, there may be points of contention among stakeholders regarding the implications of increased misdemeanor charges and potential unintended consequences. Detractors may express concerns over the fairness of the penalties, particularly for lesser offenses, as well as the potential for increased legal complexities in prosecuting these crimes. Additionally, the bill's implementation may raise questions about the adequacy of legal resources available for prosecuting increased felony cases in Texas.

Companion Bills

No companion bills found.

Previously Filed As

TX HB1899

Relating to increasing the criminal penalties for insider trading and other misuse of official information.

TX SB465

Relating to certain criminal conduct involving a catalytic converter; creating a criminal offense; increasing criminal penalties.

TX SB973

Relating to increasing criminal penalties for the offense of criminal mischief involving certain damage to residential gas meters.

TX HB1833

Relating to increasing the criminal penalty for the offense of criminal mischief involving a public power supply.

TX SB224

Relating to catalytic converters, including criminal conduct involving catalytic converters; providing an administrative penalty; creating a criminal offense; increasing a criminal penalty; increasing a fee.

TX HB4598

Relating to catalytic converters, including criminal conduct involving catalytic converters; providing an administrative penalty; creating a criminal offense; increasing a criminal penalty; increasing a fee.

TX HB1402

Relating to the criminal penalties for certain criminal offenses.

TX HB650

Relating to increasing the criminal penalty for the offense of criminal mischief involving the damage or destruction of a public monument or a place of worship.

TX SB467

Relating to increasing the criminal penalty for the offense of criminal mischief involving impairment of a motor fuel pump.

TX SB1427

Relating to certain criminal conduct and organizations that threaten the security of this state and its residents and borders; increasing criminal penalties.

Similar Bills

No similar bills found.