Texas 2013 - 83rd Regular

Texas Senate Bill SB228 Compare Versions

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1	1	By: Williams S.B. No. 228
2	2	(Otto)
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the regulation of the practice of public accountancy.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Section 901.153, Occupations Code, is amended by
10	10	adding Subsection (f) to read as follows:
11	11	(f) An enforcement committee may hold a closed meeting as
12	12	provided by Section 551.090, Government Code, to investigate and
13	13	deliberate a disciplinary action under Subchapter K relating to the
14	14	enforcement of this chapter or board rules.
15	15	SECTION 2. Subsection (b), Section 901.457, Occupations
16	16	Code, is amended to read as follows:
17	17	(b) This section does not prohibit a license holder from
18	18	disclosing information that is required to be disclosed:
19	19	(1) by the professional standards for reporting on the
20	20	examination of a financial statement;
21	21	(2) under a summons or subpoena under the provisions
22	22	of the Internal Revenue Code of 1986 and its subsequent amendments,
23	23	the Securities Act of 1933 (15 U.S.C. Section 77a et seq.) and its
24	24	subsequent amendments, [or] the Securities Exchange Act of 1934 (15
25	25	U.S.C. Section 78a et seq.) and its subsequent amendments, or The
26	26	Securities Act (Article 581-1 et seq., Vernon's Texas Civil
27	27	Statutes);
28	28	(3) [or] under a court order signed by a judge if the
29	29	[summons or] order:
30	30	(A) is addressed to the license holder;
31	31	(B) mentions the client by name; and
32	32	(C) requests specific information concerning the
33	33	client;
34	34	(4) [(3)] in an investigation or proceeding conducted
35	35	by the board;
36	36	(5) [(4)] in an ethical investigation conducted by a
37	37	professional organization of certified public accountants; [or]
38	38	(6) [(5)] in the course of a peer review under Section
39	39	901.159 or in accordance with the requirements of the Public
40	40	Company Accounting Oversight Board or its successor; or
41	41	(7) in the course of a practice review by another
42	42	certified public accountant or certified public accountancy firm
43	43	for a potential acquisition or merger of one firm with another, if
44	44	both firms enter into a nondisclosure agreement with regard to all
45	45	client information shared between the firms.
46	46	SECTION 3. Subchapter D, Chapter 551, Government Code, is
47	47	amended by adding Section 551.090 to read as follows:
48	48	Sec. 551.090. ENFORCEMENT COMMITTEE APPOINTED BY TEXAS
49	49	STATE BOARD OF PUBLIC ACCOUNTANCY. This chapter does not require an
50	50	enforcement committee appointed by the Texas State Board of Public
51	51	Accountancy to conduct an open meeting to investigate and
52	52	deliberate a disciplinary action under Subchapter K, Chapter 901,
53	53	Occupations Code, relating to the enforcement of Chapter 901 or the
54	54	rules of the Texas State Board of Public Accountancy.
55	55	SECTION 4. The following sections of the Occupations Code
56	56	are repealed:
57	57	(1) Subsection (c), Section 901.154; and
58	58	(2) Subsection (d) and (e), Section 901.308.
59	59	SECTION 5. The changes in law made by this Act to Section
60	60	901.308, Occupations Code, apply only to an examination
61	61	administered on or after the effective date of this Act. An
62	62	examination administered before that date is governed by the law in
63	63	effect at the time the examination was administered, and the former
64	64	law is continued in effect for that purpose.
65	65	SECTION 6. This Act takes effect September 1, 2013.