Texas 2019 - 86th Regular

Texas House Bill HB783 Compare Versions

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

Old	New	Differences
1	1	86R978 ATP-F
2	2	By: Davis of Harris H.B. No. 783
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the contents of and recordkeeping requirements relating
8	8	to personal financial statements filed with the Texas Ethics
9	9	Commission.
10	10	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Section 572.023(b), Government Code, as
12	12	effective January 8, 2019, is amended to read as follows:
13	13	(b) The account of financial activity consists of:
14	14	(1) a list of all sources of occupational income,
15	15	identified by employer, or if self-employed, by the nature of the
16	16	occupation, including identification of a person or other
17	17	organization from which the individual or a business in which the
18	18	individual has a substantial interest received a fee as a retainer
19	19	for a claim on future services in case of need, as distinguished
20	20	from a fee for services on a matter specified at the time of
21	21	contracting for or receiving the fee, if professional or
22	22	occupational services are not actually performed during the
23	23	reporting period equal to or in excess of the amount of the
24	24	retainer, and the category of the amount of the fee;
25	25	(2) identification by name and the category of the
26	26	greatest number of shares of stock of any nonpublicly traded
27	27	business entity held or acquired, and if sold, the category of the
28	28	amount of net gain or loss realized from the sale;
29	29	(2-a) identification by stock symbol and the category
30	30	of the number of shares of stock of any publicly traded corporation
31	31	held;
32	32	(3) a list of all bonds, notes, and other commercial
33	33	paper held or acquired, and if sold, the category of the amount of
34	34	net gain or loss realized from the sale;
35	35	(4) identification of each source and the category of
36	36	the amount of income in excess of $500 derived from each source from
37	37	interest, dividends, royalties, and rents;
38	38	(5) identification of each guarantor of a loan and
39	39	identification of each person or financial institution to whom a
40	40	personal note or notes or lease agreement for a total financial
41	41	liability in excess of $1,000 existed at any time during the year
42	42	and the category of the amount of the liability;
43	43	(6) identification by description of all beneficial
44	44	interests in real property and business entities held or acquired,
45	45	and if sold, the category of the amount of the net gain or loss
46	46	realized from the sale;
47	47	(7) identification of a person or other organization
48	48	from which the individual or the individual's spouse or dependent
49	49	children received a gift of anything of value in excess of $250 and
50	50	a description of each gift, except:
51	51	(A) a gift received from an individual related to
52	52	the individual at any time within the second degree by
53	53	consanguinity or affinity, as determined under Subchapter B,
54	54	Chapter 573;
55	55	(B) a political contribution that was reported as
56	56	required by Chapter 254, Election Code; and
57	57	(C) an expenditure required to be reported by a
58	58	person required to be registered under Chapter 305;
59	59	(8) identification of the source and the category of
60	60	the amount of all income received as beneficiary of a trust, other
61	61	than a blind trust that complies with Subsection (c), and
62	62	identification of each trust asset, if known to the beneficiary,
63	63	from which income was received by the beneficiary in excess of $500;
64	64	(9) identification:
65	65	(A) by description of a corporation, firm,
66	66	partnership, limited partnership, limited liability partnership,
67	67	professional corporation, professional association, joint venture,
68	68	or other business association in which five percent or more of the
69	69	outstanding ownership was held, acquired, or sold; and
70	70	(B) by description and the category of the amount
71	71	of all assets and liabilities of a corporation, firm, partnership,
72	72	limited partnership, limited liability partnership, professional
73	73	corporation, professional association, joint venture, or other
74	74	business association in which 50 percent or more of the outstanding
75	75	ownership was held, acquired, or sold;
76	76	(10) a list of all boards of directors of which the
77	77	individual is a member and executive positions that the individual
78	78	holds in corporations, firms, partnerships, limited partnerships,
79	79	limited liability partnerships, professional corporations,
80	80	professional associations, joint ventures, or other business
81	81	associations or proprietorships, stating the name of each
82	82	corporation, firm, partnership, limited partnership, limited
83	83	liability partnership, professional corporation, professional
84	84	association, joint venture, or other business association or
85	85	proprietorship and the position held;
86	86	(11) identification of any person providing
87	87	transportation, meals, or lodging expenses permitted under Section
88	88	36.07(b), Penal Code, and the amount of those expenses, other than
89	89	expenditures required to be reported under Chapter 305;
90	90	(12) any corporation, firm, partnership, limited
91	91	partnership, limited liability partnership, professional
92	92	corporation, professional association, joint venture, or other
93	93	business association, excluding a publicly held corporation, in
94	94	which both the individual and a person registered under Chapter 305
95	95	have an interest;
96	96	(13) identification by name and the category of the
97	97	number of shares of any mutual fund held or acquired, and if sold,
98	98	the category of the amount of net gain or loss realized from the
99	99	sale;
100	100	(14) identification of each blind trust that complies
101	101	with Subsection (c), including:
102	102	(A) the category of the fair market value of the
103	103	trust;
104	104	(B) the date the trust was created;
105	105	(C) the name and address of the trustee; and
106	106	(D) a statement signed by the trustee, under
107	107	penalty of perjury, stating that:
108	108	(i) the trustee has not revealed any
109	109	information to the individual, except information that may be
110	110	disclosed under Subdivision (8); and
111	111	(ii) to the best of the trustee's knowledge,
112	112	the trust complies with this section;
113	113	(15) if the aggregate cost of goods or services sold
114	114	under one or more written contracts described by this subdivision
115	115	exceeds $10,000 in the year covered by the report, identification
116	116	of each written contract, including the name of each party to the
117	117	contract:
118	118	(A) for the sale of goods or services in the
119	119	amount of $2,500 or more;
120	120	(B) to which the individual, the individual's
121	121	spouse, the individual's dependent child, or any business entity of
122	122	which the individual, the individual's spouse, or the individual's
123	123	dependent child, independently or in conjunction with one or more
124	124	persons described by this subsection, has at least a 50 percent
125	125	ownership interest is a party; and
126	126	(C) with:
127	127	(i) a governmental entity; or
128	128	(ii) a person who contracts with a
129	129	governmental entity, if the individual or entity described by
130	130	Paragraph (B) performs work arising out of the contract,
131	131	subcontract, or agreement between the person and the governmental
132	132	entity for a fee; and
133	133	(16) if the individual is a member of the legislature
134	134	and provides bond counsel services to an issuer, as defined by
135	135	Section 1201.002(1), identification of the following for each
136	136	issuance for which the individual served as bond counsel:
137	137	(A) the amount of the issuance;
138	138	(B) the name of the issuer;
139	139	(C) the date of the issuance;
140	140	(D) the amount of fees paid to the individual,
141	141	and whether the amount is:
142	142	(i) less than $5,000;
143	143	(ii) at least $5,000 but less than $10,000;
144	144	(iii) at least $10,000 but less than
145	145	$25,000; or
146	146	(iv) $25,000 or more; and
147	147	(E) the amount of fees paid to the individual's
148	148	firm, if applicable, and whether the amount is:
149	149	(i) less than $5,000;
150	150	(ii) at least $5,000 but less than $10,000;
151	151	(iii) at least $10,000 but less than
152	152	$25,000; or
153	153	(iv) $25,000 or more.
154	154	SECTION 2. Subchapter B, Chapter 572, Government Code, is
155	155	amended by adding Section 572.0292 to read as follows:
156	156	Sec. 572.0292. RECORDKEEPING REQUIRED. (a) Each
157	157	individual who files with the commission a financial statement
158	158	required by this subchapter shall maintain a record of the
159	159	information that is necessary for filing the financial statement.
160	160	(b) An individual required to maintain a record under this
161	161	section shall preserve the record for at least three years
162	162	beginning on the filing deadline for the financial statement
163	163	containing the information in the record.
164	164	SECTION 3. Section 572.032, Government Code, is amended by
165	165	amending Subsection (a) and adding Subsection (d) to read as
166	166	follows:
167	167	(a) Financial statements filed under this subchapter are
168	168	public records. The commission shall maintain the statements in
169	169	separate alphabetical files and in a manner that is accessible to
170	170	the public during regular office hours and make the statements
171	171	available to the public on the commission's website not later than
172	172	the 15th day after the date the statement is required to be filed or
173	173	is actually filed, whichever is later.
174	174	(d) The commission is not required to continue to make
175	175	available on its website a financial statement that may be
176	176	destroyed under Subsection (c). The commission may not make
177	177	available on its website a financial statement that the commission
178	178	is required to destroy under Subsection (c).
179	179	SECTION 4. Section 572.032(a-1), Government Code, as
180	180	amended by Chapters 34 (S.B. 1576) and 983 (H.B. 776), Acts of the
181	181	85th Legislature, Regular Session, 2017, is reenacted and amended
182	182	to read as follows:
183	183	(a-1) The commission shall remove the home address, the
184	184	telephone number, and the names of the dependent children of an
185	185	individual from a financial statement filed by the individual under
186	186	this subchapter before:
187	187	(1) permitting a member of the public to view the
188	188	statement;
189	189	(2) providing a copy of the statement to a member of
190	190	the public; or
191	191	(3) making the statement available to the public on
192	192	the commission's Internet website[, if the commission makes
193	193	statements filed under this subchapter available on its website].
194	194	SECTION 5. Section 572.032(b), Government Code, is
195	195	repealed.
196	196	SECTION 6. The changes in law made by this Act apply only to
197	197	a financial statement due on or after the effective date of this
198	198	Act. A financial statement due before the effective date of this
199	199	Act is governed by the law in effect on the date the financial
200	200	statement was due, and the former law is continued in effect for
201	201	that purpose.
202	202	SECTION 7. This Act takes effect September 1, 2019.