Texas 2021 - 87th Regular

Texas House Bill HB4131 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		87R15883 SRA-F
2	2		By: Parker, Anchia, Stephenson, Capriglione, H.B. No. 4131
3	3		Perez
	4	+	Substitute the following for H.B. No. 4131:
	5	+	By: Capriglione C.S.H.B. No. 4131
4	6
5	7
6	8		A BILL TO BE ENTITLED
7	9		AN ACT
8	10		relating to the self-directed and semi-independent status of the
9	11		State Securities Board; authorizing fees.
10	12		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	13		SECTION 1. Section 472.001, Government Code, is amended to
12	14		read as follows:
13	15		Sec. 472.001. APPLICABILITY OF CHAPTER. This chapter
14	16		applies to:
15	17		(1) the Texas State Board of Public Accountancy;
16	18		(2) the Texas Board of Professional Engineers and Land
17	19		Surveyors; [and]
18	20		(3) the Texas Board of Architectural Examiners; and
19	21		(4) the State Securities Board.
20	22		SECTION 2. Subchapter A, Chapter 4002, Government Code, as
21	23		effective January 1, 2022, is amended by adding Section 4002.003 to
22	24		read as follows:
23	25		Sec. 4002.003. SELF-DIRECTED AND SEMI-INDEPENDENT STATUS.
24	26		The State Securities Board has self-directed and semi-independent
25	27		status as provided under Chapter 472.
26	28		SECTION 3. Section 4002.057, Government Code, as effective
27	29		January 1, 2022, is amended to read as follows:
28	30		Sec. 4002.057. PER DIEM. A member of the board is entitled
29	31		to reimbursement for travel expenses incurred [a per diem as set by
30	32		legislative appropriation] for each day the member engages in the
31	33		business of the board.
32	34		SECTION 4. Section 4002.058(c), Government Code, as
33	35		effective January 1, 2022, is amended to read as follows:
34	36		(c) A person appointed to the board is entitled to
35	37		reimbursement[, as provided by the General Appropriations Act,] for
36	38		travel expenses incurred in attending the training program
37	39		regardless of whether the attendance at the program occurs before
38	40		or after the person qualifies for office.
39	41		SECTION 5. Section 4002.101, Government Code, as effective
40	42		January 1, 2022, is amended to read as follows:
41	43		Sec. 4002.101. SECURITIES COMMISSIONER. (a) The board
42	44		shall appoint a securities commissioner who serves at the pleasure
43	45		of the board and who, under the board's supervision, shall
44	46		administer this title.
45	47		(b) The board shall determine the commissioner's salary.
46	48		SECTION 6. Subchapter C, Chapter 4002, Government Code, as
47	49		effective January 1, 2022, is amended by adding Section 4002.1045
48	50		to read as follows:
49	51		Sec. 4002.1045. BOARD EMPLOYEES. The commissioner shall
50	52		determine the number of board employees and the employees'
51	53		salaries.
52	54		SECTION 7. Subchapter D, Chapter 4002, Government Code, as
53	55		effective January 1, 2022, is amended by adding Section 4002.164 to
54	56		read as follows:
55	57		Sec. 4002.164. REPORT TO BOARD. Periodically, the
56	58		commissioner shall submit to the members of the board, as directed
57	59		by the board members, a report of the receipts and expenditures of
58	60		the agency.
59	61		SECTION 8. Section 4006.001, Government Code, as effective
60	62		January 1, 2022, is amended to read as follows:
61	63		Sec. 4006.001. CERTAIN REGISTRATION AND NOTICE FILING FEES.
62	64		The board shall establish the following fees to produce [in amounts
63	65		so that the aggregate amount that exceeds the amount of the fees on
64	66		September 1, 2002, produces] sufficient revenue to cover the costs
65	67		of administering and enforcing this title:
66	68		(1) for filing an original, amended, or renewal
67	69		application or registration statement to sell or dispose of
68	70		securities[, an amount not to exceed $100];
69	71		(2) for filing an original application of a dealer or
70	72		investment adviser or submitting a notice filing for a federal
71	73		covered investment adviser[, an amount not to exceed $100];
72	74		(3) for filing a renewal application of a dealer or
73	75		investment adviser or submitting a renewal notice filing for a
74	76		federal covered investment adviser[, an amount not to exceed $100];
75	77		(4) for filing an original application for each agent,
76	78		officer, or investment adviser representative or submitting a
77	79		notice filing for each representative of a federal covered
78	80		investment adviser[, an amount not to exceed $100]; and
79	81		(5) for filing a renewal application for each agent,
80	82		officer, or investment adviser representative or submitting a
81	83		renewal notice filing for each representative of a federal covered
82	84		investment adviser[, an amount not to exceed $100].
83	85		SECTION 9. Section 4006.103, Government Code, as effective
84	86		January 1, 2022, is amended to read as follows:
85	87		Sec. 4006.103. PAYMENT OF CERTAIN COSTS. A cost incurred by
86	88		the board in administering or enforcing this title may be paid only
87	89		from a fee collected under Section 4006.001.
88	90		SECTION 10. Section 4006.104, Government Code, as effective
89	91		January 1, 2022, is amended to read as follows:
90	92		Sec. 4006.104. REFUND OF REGISTRATION FEE. If the
91	93		commissioner or board determines that all or part of a registration
92	94		fee should be refunded, the [commissioner may make the] refund
93	95		shall be made by warrant on the state treasury from the fund into
94	96		which the registration fee was deposited [money appropriated from
95	97		the general revenue fund for that purpose].
96	98		SECTION 11. Subchapter A, Chapter 4007, Government Code, as
97	99		effective January 1, 2022, is amended by adding Section 4007.003 to
98	100		read as follows:
99	101		Sec. 4007.003. REPRESENTATION BY ATTORNEY GENERAL. (a)
100	102		The attorney general may assess and collect from the commissioner
101	103		or the board reasonable attorney's fees associated with any legal
102	104		representation requested by the commissioner and provided by the
103	105		attorney general.
104	106		(b) Notwithstanding any other law, a requirement that the
105	107		attorney general represent an agency in any litigation does not
106	108		apply to a proceeding under this title that is governed by Chapter
107	109		2001.
108	110		SECTION 12. Effective January 1, 2022, the following
109	111		provisions of the Government Code, as effective January 1, 2022,
110	112		are repealed:
111	113		(1) Section 4002.001;
112	114		(2) Section 4002.155;
113	115		(3) Section 4002.163;
114	116		(4) Section 4006.101; and
115	117		(5) Section 4006.251.
116	118		SECTION 13. Subject to Chapter 472, Government Code, the
117	119		appropriations made to the State Securities Board by an Act of the
118	120		87th Legislature, Regular Session, 2021, may be spent by the State
119	121		Securities Board as the securities commissioner directs. The board
120	122		shall repay to the general revenue fund the appropriation made to
121	123		the agency for the state fiscal year ending August 31, 2022, not
122	124		later than that date and as funds become available. The board shall
123	125		repay to the general revenue fund the appropriation made to the
124	126		board for the state fiscal year ending August 31, 2023, not later
125	127		than that date and as funds become available.
126	128		SECTION 14. The transfer of the State Securities Board to
127	129		self-directed and semi-independent status under this Act and the
128	130		expiration of self-directed and semi-independent status may not act
129	131		to cancel, suspend, or prevent:
130	132		(1) any debt owed to or by the State Securities Board;
131	133		(2) any fine, tax, penalty, or obligation of any
132	134		party;
133	135		(3) any contract or other obligation of any party; or
134	136		(4) any action taken by the State Securities Board,
135	137		the securities commissioner, or the board's employees in the
136	138		administration or enforcement of the agency's duties.
137	139		SECTION 15. The State Securities Board shall continue to
138	140		have and exercise the powers and duties allocated to the board in
139	141		the board's enabling legislation, except as specifically amended by
140	142		this Act.
141	143		SECTION 16. Title to or ownership of all supplies,
142	144		materials, records, equipment, books, papers, and furniture used by
143	145		the State Securities Board is transferred to the State Securities
144	146		Board in fee simple. This Act does not affect any property owned by
145	147		the State Securities Board on or before the effective date of this
146	148		Act.
147	149		SECTION 17. Beginning January 1, 2022, the State Securities
148	150		Board shall pay rent to this state in a reasonable amount to be
149	151		determined by the Texas Facilities Commission for its use and
150	152		occupancy of state-owned office space.
151	153		SECTION 18. This Act takes effect January 1, 2022.