Texas House Bill HB1941

Texas 2017 - 85th Regular

Caption

Relating to the contents of and public access to personal financial statements filed by public officials and candidates; amending provisions subject to a criminal penalty.

Impact

This bill significantly affects state law by modifying the Government Code's provisions on financial disclosures. The changes impose stricter requirements on the reporting of gifts, financial activities, and the management of trusts held by public officials and their families. Notably, it enhances the accessibility of these financial statements to the public, mandating that they be made available online within a specified timeframe, which is expected to promote greater scrutiny of public officials' financial dealings.

Summary

House Bill 1941 seeks to amend the existing provisions regarding personal financial statements filed by public officials and candidates in Texas. The bill's primary aim is to enhance public access to these financial documents, thereby augmenting transparency and accountability among officials. By updating various thresholds and reporting requirements, the bill adjusts the categories of income and assets that public officials must disclose, ensuring a more detailed account of their financial activities.

Contention

While many support HB1941 for its potential to increase transparency, there are concerns regarding the administrative burden it may place on public officials and the potential for this increased scrutiny to dissuade individuals from running for office. Critics argue that the changes could lead to an overload of information that may confuse the public rather than inform them. Moreover, implementation challenges regarding the proper tracking and reporting of financial activities may arise, suggesting a need for additional resources and training for officials to comply with the new law.