Texas 2019 - 86th Regular

Texas House Bill HB4171

Caption

Relating to the nonsubstantive revision of The Securities Act, including conforming amendments.

Impact

The bill's revision of The Securities Act improves the clarity and organization of regulations which is intended to facilitate better understanding and compliance by issuers and dealers. This particular bill exempted certain transactions and securities from registration requirements, which may relieve administrative burdens on smaller businesses and encourage capital formation. The streamlining is expected to enhance investor protection while simplifying procedures for market participants, increasing the overall efficiency of financial operations in the state.

Summary

House Bill 4171 is centered around the nonsubstantive revision of The Securities Act, which includes a series of conforming amendments aimed at streamlining regulations pertaining to securities issued in Texas. The revisions are focused on clarifying existing laws without intending to make substantive changes, thus preserving the original intent of the legislation while providing a more organized and accessible framework. The bill impacts various Texas codes, including regulations concerning the sale and issuance of securities, ensuring compliance with both state and federal requirements.

Sentiment

The general sentiment surrounding HB 4171 has been positive among legislators and financial industry professionals who view the updates as necessary for maintaining a competitive and compliant securities market in Texas. The bill's proponents argue that it is essential for adapting to evolving market practices and fostering an environment conducive to investment growth, while ensuring that consumers remain protected. The lack of opposition during the legislative process further highlights the broad support for these updates.

Contention

While no significant points of contention surfaced during the discussions on HB 4171, some stakeholders expressed concerns about the implications of exemptions included in the revised act. Critics worried that increased exemptions could unintentionally open avenues for less regulation, potentially leading to challenges in investor protection. However, overall, the push for modernization and clarity seemed to overshadow these concerns, indicating a general consensus on the need for these revisions among the majority of legislators.

Companion Bills

No companion bills found.

Previously Filed As

TX HB4504

Relating to the nonsubstantive revision of certain provisions of the Code of Criminal Procedure, including conforming amendments.

TX HB4595

Relating to nonsubstantive additions to, revisions of, and corrections in enacted codes and to the nonsubstantive codification or disposition of various laws omitted from enacted codes.

TX HB5011

Relating to amendments to the Uniform Commercial Code, including amendments concerning certain intangible assets and the perfection of security interests in those assets.

TX SB2075

Relating to amendments to the Uniform Commercial Code, including amendments concerning certain intangible assets and the perfection of security interests in those assets.

TX HB4611

Relating to the nonsubstantive revision of the health and human services laws governing the Health and Human Services Commission, Medicaid, and other social services.

TX SB927

Relating to the self-directed and semi-independent status of the State Securities Board; authorizing fees.

TX HB127

Relating to measures to address public safety threats in this state presented by transnational criminal activity, including by establishing a Texas Homeland Security Division, and to compensate persons affected by those threats.

TX HB2987

Relating to the exemption of tangible personal property from ad valorem taxation; making conforming changes.

TX SB1789

Relating to the exemption of tangible personal property from ad valorem taxation; making conforming changes.

TX HB13

Relating to measures to address public safety threats in this state presented by transnational criminal activity, including by establishing the Texas Homeland Security Division and the Border Security Advisory Council, and to compensate persons affected by those threats.

Similar Bills

TX HB1549

Relating to the creation, organization, duties, and functions of the Texas Department of Motor Vehicles; providing a penalty.

TX SB895

Relating to the regulation of money services businesses; creating a criminal offense; creating administrative penalties; authorizing the imposition of a fee.

TX HB3573

Relating to modernizing the regulation of money services businesses.

TX HB3824

Relating to the regulation of certain short-term consumer loans; imposing an assessment and fees; adding provisions subject to a criminal penalty; requiring an occupational license.

TX SB1004

Relating to the regulation of residential mortgage loan originators, residential mortgage loan companies, mortgage bankers, and residential mortgage loan servicers under the jurisdiction of the Department of Savings and Mortgage Lending; changing a fee.