Texas House Bill HB783

Texas 2019 - 86th Regular

Caption

Relating to the contents of and recordkeeping requirements relating to personal financial statements filed with the Texas Ethics Commission.

Impact

By establishing stricter recordkeeping obligations for financial statements, HB783 seeks to bolster transparency and accountability among public officials in Texas. The legislation enhances public trust by ensuring that financial disclosures are detailed and accurate, thereby providing Texas residents with better access to information regarding the financial dealings of those in public service. The changes will assist the Texas Ethics Commission in maintaining public records that are easily accessible and reliable for public scrutiny.

Summary

House Bill 783 focuses on enhancing the contents and recordkeeping requirements related to personal financial statements that are filed with the Texas Ethics Commission. The bill aims to amend existing laws to ensure that financial records submitted by individuals are comprehensive and foster transparency in governmental financial disclosures. The amendments include specific requirements for listing sources of income, assets, and liabilities, ultimately seeking to create a clear framework for tracking the financial activities of public officials and individuals filing such statements.

Contention

There has been discussion about the potential impact of these additional requirements on the individuals responsible for filing these statements. Some may argue that the more rigorous financial disclosure expectations could serve as a deterrent for certain individuals from pursuing public office due to the perceived complexity and burden. Additionally, there is concern among some stakeholders regarding the implications for privacy, as more detailed disclosures might expose sensitive personal financial information to public view. Balancing transparency with privacy considerations remains a notable point of contention surrounding the bill.