Texas 2015 - 84th Regular

Texas House Bill HB1059 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New	Differences
1	1	84R18595 ATP-D
2	2	By: Turner of Tarrant H.B. No. 1059
3	3	Substitute the following for H.B. No. 1059:
4	4	By: Collier C.S.H.B. No. 1059
5	5
6	6
7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to the filing and contents of and public access to personal
10	10	financial statements filed by public officials and candidates;
11	11	amending provisions subject to a criminal penalty.
12	12	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
13	13	SECTION 1. Section 572.021, Government Code, is amended to
14	14	read as follows:
15	15	Sec. 572.021. FINANCIAL STATEMENT REQUIRED. (a) Except as
16	16	provided by Section 572.0211, a state officer, a partisan or
17	17	independent candidate for an office as an elected officer, and a
18	18	state party chair shall file with the commission a verified
19	19	financial statement complying with Sections 572.022 through
20	20	572.0252.
21	21	(b) Each financial statement filed under this subchapter
22	22	must be submitted electronically through a secure website
23	23	maintained by the commission.
24	24	SECTION 2. Sections 572.022(a) and (d), Government Code,
25	25	are amended to read as follows:
26	26	(a) If an amount in a financial statement is required to be
27	27	reported by category, the individual filing the statement shall
28	28	report whether the amount is:
29	29	(1) less than $200 [$5,000];
30	30	(2) at least $200 [$5,000] but less than $1,000
31	31	[$10,000];
32	32	(3) at least $1,000 [$10,000] but less than $2,500
33	33	[$25,000];
34	34	(4) at least $2,500 but less than $5,000;
35	35	(5) at least $5,000 but less than $15,000;
36	36	(6) at least $15,000 but less than $50,000;
37	37	(7) at least $50,000 but less than $100,000;
38	38	(8) at least $100,000 but less than $1,000,000;
39	39	(9) at least $1,000,000 but less than $5,000,000; or
40	40	(10) $5,000,000 [(4) $25,000] or more.
41	41	(d) For a gift [of cash or a cash equivalent such as a
42	42	negotiable instrument or gift certificate] that is reported in
43	43	accordance with Section 572.023(b)(7), the individual filing the
44	44	statement shall include in the description of the gift a statement
45	45	of the value of the gift. If the reported gift is cash or a cash
46	46	equivalent such as a negotiable instrument or gift certificate, the
47	47	description must include the actual face value of the gift.
48	48	SECTION 3. Sections 572.023(a) and (b), Government Code,
49	49	are amended to read as follows:
50	50	(a) A financial statement must include an account of the
51	51	financial activity of the individual required by this subchapter to
52	52	file a financial statement and an account of the financial activity
53	53	of the individual's spouse and dependent children if the individual
54	54	had actual control over that activity for:
55	55	(1) the preceding calendar year; or
56	56	(2) both the preceding calendar year and, listed
57	57	separately, the year before the preceding calendar year, for
58	58	information reported under Subsection (b)(1), (4), (8), or (15).
59	59	(b) The account of financial activity consists of:
60	60	(1) a list of all sources of occupational income,
61	61	identified by employer, or if self-employed, by the nature of the
62	62	occupation, including identification of a person or other
63	63	organization from which the individual or a business in which the
64	64	individual has a substantial interest received a fee as a retainer
65	65	for a claim on future services in case of need, as distinguished
66	66	from a fee for services on a matter specified at the time of
67	67	contracting for or receiving the fee, if professional or
68	68	occupational services are not actually performed during the
69	69	reporting period equal to or in excess of the amount of the
70	70	retainer, and the category of the amount of the fee;
71	71	(2) identification by name and the category of the
72	72	dollar value of the [number of] shares of stock of any business
73	73	entity held or acquired, and if sold, the category of the amount of
74	74	net gain or loss realized from the sale;
75	75	(3) a list of all bonds, notes, and other commercial
76	76	paper held or acquired, and if sold, the category of the amount of
77	77	net gain or loss realized from the sale;
78	78	(4) identification of each source and the category of
79	79	the amount of income in excess of $500 derived from each source from
80	80	interest, dividends, royalties, and rents;
81	81	(5) identification of each guarantor of a loan and
82	82	identification of each person or financial institution to whom a
83	83	personal note or notes or lease agreement for a total financial
84	84	liability in excess of $1,000 existed at any time during the year,
85	85	the date the liability was incurred, and the category of the amount
86	86	of the liability;
87	87	(6) identification by description of all beneficial
88	88	interests in real property and business entities held or acquired,
89	89	and if sold, the category of the amount of the net gain or loss
90	90	realized from the sale;
91	91	(7) identification of a person or other organization
92	92	from which the individual or the individual's spouse or dependent
93	93	children received a gift of anything of value in excess of $250 and
94	94	a description of each gift, except:
95	95	(A) a gift received from an individual related to
96	96	the individual at any time within the second degree by
97	97	consanguinity or affinity, as determined under Subchapter B,
98	98	Chapter 573;
99	99	(B) a political contribution that was reported as
100	100	required by Chapter 254, Election Code; and
101	101	(C) an expenditure required to be reported by a
102	102	person required to be registered under Chapter 305;
103	103	(8) identification of the source and the category of
104	104	the amount of all income received as beneficiary of a trust, other
105	105	than a blind trust that complies with Subsection (c), and
106	106	identification of each trust asset, if known to the beneficiary,
107	107	from which income was received by the beneficiary in excess of $500;
108	108	(9) identification by description and the category of
109	109	the amount of all assets and liabilities of a corporation, firm,
110	110	partnership, limited partnership, limited liability partnership,
111	111	professional corporation, professional association, joint venture,
112	112	or other business association in which 50 percent or more of the
113	113	outstanding ownership was held, acquired, or sold;
114	114	(10) a list of all boards of directors of which the
115	115	individual is a member and executive positions that the individual
116	116	holds in corporations, firms, partnerships, limited partnerships,
117	117	limited liability partnerships, professional corporations,
118	118	professional associations, joint ventures, or other business
119	119	associations or proprietorships, stating the name of each
120	120	corporation, firm, partnership, limited partnership, limited
121	121	liability partnership, professional corporation, professional
122	122	association, joint venture, or other business association or
123	123	proprietorship and the position held;
124	124	(11) identification of any person providing
125	125	transportation, meals, or lodging expenses permitted under Section
126	126	36.07(b), Penal Code, and the amount of those expenses, other than
127	127	expenditures required to be reported under Chapter 305;
128	128	(12) any corporation, firm, partnership, limited
129	129	partnership, limited liability partnership, professional
130	130	corporation, professional association, joint venture, or other
131	131	business association, excluding a publicly held corporation, in
132	132	which both the individual and a person registered under Chapter 305
133	133	have an interest;
134	134	(13) identification by name and the category of the
135	135	number of shares of any mutual fund held or acquired, and if sold,
136	136	the category of the amount of net gain or loss realized from the
137	137	sale; [and]
138	138	(14) identification of each blind trust that complies
139	139	with Subsection (c), including:
140	140	(A) the category of the fair market value of the
141	141	trust;
142	142	(B) the date the trust was created;
143	143	(C) the name and address of the trustee; and
144	144	(D) a statement signed by the trustee, under
145	145	penalty of perjury, stating that:
146	146	(i) the trustee has not revealed any
147	147	information to the individual, except information that may be
148	148	disclosed under Subdivision (8); and
149	149	(ii) to the best of the trustee's knowledge,
150	150	the trust complies with this section; and
151	151	(15) identification of any other source of earned or
152	152	unearned income not reported under another provision of this
153	153	subsection, including public benefits or a pension, individual
154	154	retirement account, or other retirement plan, and the category of
155	155	the amount of income derived from each source.
156	156	SECTION 4. Section 572.032, Government Code, is amended by
157	157	amending Subsection (a) and adding Subsection (d) to read as
158	158	follows:
159	159	(a) Financial statements filed under this subchapter are
160	160	public records. The commission shall maintain the statements in
161	161	separate alphabetical files and in a manner that is accessible to
162	162	the public during regular office hours and make the statements
163	163	available to the public on the commission's website not later than
164	164	the 15th day after the date the statement is required to be filed or
165	165	is actually filed, whichever is later.
166	166	(d) The commission is not required to continue to make
167	167	available on its website a financial statement that may be
168	168	destroyed under Subsection (c). The commission may not make
169	169	available on its website a financial statement that the commission
170	170	is required to destroy under Subsection (c).
171	171	SECTION 5. Sections 572.022(b) and 572.032(b), Government
172	172	Code, are repealed.
173	173	SECTION 6. Section 572.021(b), Government Code, as added by
174	174	this Act, and Sections 572.022 and 572.023, Government Code, as
175	175	amended by this Act, apply only to a financial statement filed under
176	176	Subchapter B, Chapter 572, Government Code, on or after January 1,
177	177	2017. A financial statement filed before January 1, 2017, is
178	178	governed by the law in effect on the date of filing, and the former
179	179	law is continued in effect for that purpose.
180	180	SECTION 7. This Act takes effect immediately if it receives
181	181	a vote of two-thirds of all the members elected to each house, as
182	182	provided by Section 39, Article III, Texas Constitution. If this
183	183	Act does not receive the vote necessary for immediate effect, this
184	184	Act takes effect September 1, 2015.