| 1 | 1 | | 88R8793 MPF-D |
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| 2 | 2 | | By: Meyer H.B. No. 1899 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to increasing the criminal penalties for insider trading |
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| 8 | 8 | | and other misuse of official information. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 39.06, Penal Code, is amended by |
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| 11 | 11 | | amending Subsection (e) and adding Subsection (g) to read as |
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| 12 | 12 | | follows: |
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| 13 | 13 | | (e) Except as provided by Subsection (g) [(f)], an offense |
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| 14 | 14 | | under this section is a felony of the third degree. |
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| 15 | 15 | | (g) If the commission of an offense under this section |
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| 16 | 16 | | results in a net pecuniary gain to the person committing the |
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| 17 | 17 | | offense, the offense is: |
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| 18 | 18 | | (1) a felony of the third degree if the net pecuniary |
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| 19 | 19 | | gain is less than $150,000; |
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| 20 | 20 | | (2) a felony of the second degree if the net pecuniary |
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| 21 | 21 | | gain is $150,000 or more but less than $300,000; or |
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| 22 | 22 | | (3) a felony of the first degree if the net pecuniary |
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| 23 | 23 | | gain is $300,000 or more. |
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| 24 | 24 | | SECTION 2. Section 39.06(f), Penal Code, is repealed. |
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| 25 | 25 | | SECTION 3. (a) The changes in law made by this Act apply |
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| 26 | 26 | | only to an offense committed on or after the effective date of this |
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| 27 | 27 | | Act. For purposes of this section, an offense is committed before |
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| 28 | 28 | | the effective date of this Act if any element of the offense occurs |
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| 29 | 29 | | before the effective date. |
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| 30 | 30 | | (b) An offense committed before the effective date of this |
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| 31 | 31 | | Act is covered by the law in effect when the offense was committed, |
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| 32 | 32 | | and the former law is continued in effect for that purpose. |
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| 33 | 33 | | SECTION 4. This Act takes effect September 1, 2023. |
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