Relating to the disclosure of interested parties by business entities contracting with governmental entities or state agencies.
Impact
This bill impacts the legal framework of public contracting by mandating that businesses disclose entities and individuals with vested interests when they seek to enter contracts valued at $10 million or more with state agencies. This requirement is specifically aimed at ensuring that contracts entered into are not only beneficial but also free from undisclosed conflicts of interest, thereby fostering a more ethical approach to public procurement.
Summary
House Bill 1610 addresses the requirement for business entities that contract with governmental entities or state agencies to disclose their interested parties. The bill amends Section 2252.908 of the Government Code to define an 'interested party' as someone with a controlling interest or who facilitates the contract negotiation. By formalizing interests involved in such contracts, the legislation aims to enhance transparency and accountability within state contracting processes.
Contention
While proponents argue that HB1610 is a step towards greater transparency in government contracts and a means to mitigate corruption, there may be potential contention surrounding the implementation of these disclosures. Businesses may view such transparency requirements as burdensome, especially concerning the annual submission and the necessity to disclose any material changes in interested parties within a 30-day timeframe. Critics may also raise concerns about the interpretation of who qualifies as an 'interested party' and the implications of having to disclose sensitive business relationships.
Relating to the regulation of the collection, use, processing, and treatment of consumers' personal data by certain business entities; imposing a civil penalty.
Relating to the regulation of the collection, use, processing, and treatment of consumers' personal data by certain business entities; imposing a civil penalty.
Relating to authorized investments of public money by certain governmental entities and the confidentiality of certain information related to those investments.