LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 2, 2013 TO: Honorable Byron Cook, Chair, House Committee on State Affairs FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1576 by Taylor, Van (Relating to prohibiting state officers and employees and related individuals from engaging in insider trading; providing a criminal penalty.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend Government Code to prohibit all state officers, state employees, or their relatives from using nonpublic information as defined by the bill for personal gain. The bill would classify any violation of this statute as a third degree felony. It is anticipated that any costs associated with implementing the bill could be absorbed within existing agency resources. For this analysis it is assumed implementing the provisions of the bill would not result in a significant impact on the programs and workload of state corrections agencies or on the demand for resources of those agencies. The bill would take effect September 1, 2013. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:356 Texas Ethics Commission LBB Staff: UP, AG, EP, EMo, LM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 2, 2013
TO: Honorable Byron Cook, Chair, House Committee on State Affairs FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1576 by Taylor, Van (Relating to prohibiting state officers and employees and related individuals from engaging in insider trading; providing a criminal penalty.), As Introduced
TO: Honorable Byron Cook, Chair, House Committee on State Affairs
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB1576 by Taylor, Van (Relating to prohibiting state officers and employees and related individuals from engaging in insider trading; providing a criminal penalty.), As Introduced
Honorable Byron Cook, Chair, House Committee on State Affairs
Honorable Byron Cook, Chair, House Committee on State Affairs
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB1576 by Taylor, Van (Relating to prohibiting state officers and employees and related individuals from engaging in insider trading; providing a criminal penalty.), As Introduced
HB1576 by Taylor, Van (Relating to prohibiting state officers and employees and related individuals from engaging in insider trading; providing a criminal penalty.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Government Code to prohibit all state officers, state employees, or their relatives from using nonpublic information as defined by the bill for personal gain. The bill would classify any violation of this statute as a third degree felony. It is anticipated that any costs associated with implementing the bill could be absorbed within existing agency resources. For this analysis it is assumed implementing the provisions of the bill would not result in a significant impact on the programs and workload of state corrections agencies or on the demand for resources of those agencies. The bill would take effect September 1, 2013.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 356 Texas Ethics Commission
356 Texas Ethics Commission
LBB Staff: UP, AG, EP, EMo, LM
UP, AG, EP, EMo, LM