Texas 2017 - 85th Regular

Texas House Bill HB1941 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	85R9546 ATP-D
2	2	By: Turner H.B. No. 1941
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the contents of and public access to personal financial
8	8	statements filed by public officials and candidates; amending
9	9	provisions subject to a criminal penalty.
10	10	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Sections 572.022(a) and (d), Government Code,
12	12	are amended to read as follows:
13	13	(a) If an amount in a financial statement is required to be
14	14	reported by category, the individual filing the statement shall
15	15	report whether the amount is:
16	16	(1) less than $200 [$5,000];
17	17	(2) at least $200 [$5,000] but less than $1,000
18	18	[$10,000];
19	19	(3) at least $1,000 [$10,000] but less than $2,500
20	20	[$25,000];
21	21	(4) at least $2,500 but less than $5,000;
22	22	(5) at least $5,000 but less than $15,000;
23	23	(6) at least $15,000 but less than $50,000;
24	24	(7) at least $50,000 but less than $100,000;
25	25	(8) at least $100,000 but less than $1,000,000;
26	26	(9) at least $1,000,000 but less than $5,000,000; or
27	27	(10) $5,000,000 [(4) $25,000] or more.
28	28	(d) For a gift [of cash or a cash equivalent such as a
29	29	negotiable instrument or gift certificate] that is reported in
30	30	accordance with Section 572.023(b)(7), the individual filing the
31	31	statement shall include in the description of the gift a statement
32	32	of the value of the gift. If the reported gift is cash or a cash
33	33	equivalent such as a negotiable instrument or gift certificate, the
34	34	description must include the actual face value of the gift.
35	35	SECTION 2. Sections 572.023(a) and (b), Government Code,
36	36	are amended to read as follows:
37	37	(a) A financial statement must include an account of the
38	38	financial activity of the individual required by this subchapter to
39	39	file a financial statement and an account of the financial activity
40	40	of the individual's spouse and dependent children if the individual
41	41	had actual control over that activity for:
42	42	(1) the preceding calendar year; or
43	43	(2) both the preceding calendar year and, listed
44	44	separately, the year before the preceding calendar year, for
45	45	information reported under Subsection (b)(1), (4), or (8).
46	46	(b) The account of financial activity consists of:
47	47	(1) a list of all sources of occupational income,
48	48	identified by employer, or if self-employed, by the nature of the
49	49	occupation, including identification of a person or other
50	50	organization from which the individual or a business in which the
51	51	individual has a substantial interest received a fee as a retainer
52	52	for a claim on future services in case of need, as distinguished
53	53	from a fee for services on a matter specified at the time of
54	54	contracting for or receiving the fee, if professional or
55	55	occupational services are not actually performed during the
56	56	reporting period equal to or in excess of the amount of the
57	57	retainer, and the category of the amount of the fee;
58	58	(2) identification by name and the category of the
59	59	dollar value of the [number of] shares of stock of any business
60	60	entity held or acquired, and if sold, the category of the amount of
61	61	net gain or loss realized from the sale;
62	62	(3) a list of all bonds, notes, and other commercial
63	63	paper held or acquired, and if sold, the category of the amount of
64	64	net gain or loss realized from the sale;
65	65	(4) identification of each source and the category of
66	66	the amount of income in excess of $500 derived from each source from
67	67	interest, dividends, royalties, and rents;
68	68	(5) identification of each guarantor of a loan and
69	69	identification of each person or financial institution to whom a
70	70	personal note or notes or lease agreement for a total financial
71	71	liability in excess of $1,000 existed at any time during the year,
72	72	the date the liability was incurred, and the category of the amount
73	73	of the liability;
74	74	(6) identification by description of all beneficial
75	75	interests in real property and business entities held or acquired,
76	76	and if sold, the category of the amount of the net gain or loss
77	77	realized from the sale;
78	78	(7) identification of a person or other organization
79	79	from which the individual or the individual's spouse or dependent
80	80	children received a gift of anything of value in excess of $250 and
81	81	a description of each gift, except:
82	82	(A) a gift received from an individual related to
83	83	the individual at any time within the second degree by
84	84	consanguinity or affinity, as determined under Subchapter B,
85	85	Chapter 573;
86	86	(B) a political contribution that was reported as
87	87	required by Chapter 254, Election Code; and
88	88	(C) an expenditure required to be reported by a
89	89	person required to be registered under Chapter 305;
90	90	(8) identification of the source and the category of
91	91	the amount of all income received as beneficiary of a trust, other
92	92	than a blind trust that complies with Subsection (c), and
93	93	identification of each trust asset, if known to the beneficiary,
94	94	from which income was received by the beneficiary in excess of $500;
95	95	(9) identification by description and the category of
96	96	the amount of all assets and liabilities of a corporation, firm,
97	97	partnership, limited partnership, limited liability partnership,
98	98	professional corporation, professional association, joint venture,
99	99	or other business association in which 50 percent or more of the
100	100	outstanding ownership was held, acquired, or sold;
101	101	(10) a list of all boards of directors of which the
102	102	individual is a member and executive positions that the individual
103	103	holds in corporations, firms, partnerships, limited partnerships,
104	104	limited liability partnerships, professional corporations,
105	105	professional associations, joint ventures, or other business
106	106	associations or proprietorships, stating the name of each
107	107	corporation, firm, partnership, limited partnership, limited
108	108	liability partnership, professional corporation, professional
109	109	association, joint venture, or other business association or
110	110	proprietorship and the position held;
111	111	(11) identification of any person providing
112	112	transportation, meals, or lodging expenses permitted under Section
113	113	36.07(b), Penal Code, and the amount of those expenses, other than
114	114	expenditures required to be reported under Chapter 305;
115	115	(12) any corporation, firm, partnership, limited
116	116	partnership, limited liability partnership, professional
117	117	corporation, professional association, joint venture, or other
118	118	business association, excluding a publicly held corporation, in
119	119	which both the individual and a person registered under Chapter 305
120	120	have an interest;
121	121	(13) identification by name and the category of the
122	122	number of shares of any mutual fund held or acquired, and if sold,
123	123	the category of the amount of net gain or loss realized from the
124	124	sale; and
125	125	(14) identification of each blind trust that complies
126	126	with Subsection (c), including:
127	127	(A) the category of the fair market value of the
128	128	trust;
129	129	(B) the date the trust was created;
130	130	(C) the name and address of the trustee; and
131	131	(D) a statement signed by the trustee, under
132	132	penalty of perjury, stating that:
133	133	(i) the trustee has not revealed any
134	134	information to the individual, except information that may be
135	135	disclosed under Subdivision (8); and
136	136	(ii) to the best of the trustee's knowledge,
137	137	the trust complies with this section.
138	138	SECTION 3. Section 572.032, Government Code, is amended by
139	139	amending Subsection (a) and adding Subsection (d) to read as
140	140	follows:
141	141	(a) Financial statements filed under this subchapter are
142	142	public records. The commission shall maintain the statements in
143	143	separate alphabetical files and in a manner that is accessible to
144	144	the public during regular office hours and make the statements
145	145	available to the public on the commission's website not later than
146	146	the 15th day after the date the statement is required to be filed or
147	147	is actually filed, whichever is later.
148	148	(d) The commission is not required to continue to make
149	149	available on its website a financial statement that may be
150	150	destroyed under Subsection (c). The commission may not make
151	151	available on its website a financial statement that the commission
152	152	is required to destroy under Subsection (c).
153	153	SECTION 4. Sections 572.022(b) and 572.032(b), Government
154	154	Code, are repealed.
155	155	SECTION 5. The changes in law made by this Act to Sections
156	156	572.022 and 572.023, Government Code, apply only to a financial
157	157	statement filed under Subchapter B, Chapter 572, Government Code,
158	158	on or after January 1, 2019. A financial statement filed before
159	159	January 1, 2019, is governed by the law in effect on the date of
160	160	filing, and the former law is continued in effect for that purpose.
161	161	SECTION 6. This Act takes effect immediately if it receives
162	162	a vote of two-thirds of all the members elected to each house, as
163	163	provided by Section 39, Article III, Texas Constitution. If this
164	164	Act does not receive the vote necessary for immediate effect, this
165	165	Act takes effect September 1, 2017.