Texas 2023 - 88th Regular

Texas Senate Bill SB927 Compare Versions

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Version 2 (New)

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1	1	88R13 SRA-F
2	2	By: Parker S.B. No. 927
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the self-directed and semi-independent status of the
8	8	State Securities Board; authorizing fees.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Section 472.001, Government Code, is amended to
11	11	read as follows:
12	12	Sec. 472.001. APPLICABILITY OF CHAPTER. This chapter
13	13	applies to:
14	14	(1) the Texas State Board of Public Accountancy;
15	15	(2) the Texas Board of Professional Engineers and Land
16	16	Surveyors; [and]
17	17	(3) the Texas Board of Architectural Examiners; and
18	18	(4) the State Securities Board.
19	19	SECTION 2. Subchapter A, Chapter 4002, Government Code, is
20	20	amended by adding Section 4002.003 to read as follows:
21	21	Sec. 4002.003. SELF-DIRECTED AND SEMI-INDEPENDENT STATUS.
22	22	The State Securities Board has self-directed and semi-independent
23	23	status as provided under Chapter 472.
24	24	SECTION 3. Section 4002.057, Government Code, is amended to
25	25	read as follows:
26	26	Sec. 4002.057. PER DIEM. A member of the board is entitled
27	27	to reimbursement for travel expenses incurred [a per diem as set by
28	28	legislative appropriation] for each day the member engages in the
29	29	business of the board.
30	30	SECTION 4. Section 4002.058(c), Government Code, is amended
31	31	to read as follows:
32	32	(c) A person appointed to the board is entitled to
33	33	reimbursement[, as provided by the General Appropriations Act,] for
34	34	travel expenses incurred in attending the training program
35	35	regardless of whether the attendance at the program occurs before
36	36	or after the person qualifies for office.
37	37	SECTION 5. Section 4002.101, Government Code, is amended to
38	38	read as follows:
39	39	Sec. 4002.101. SECURITIES COMMISSIONER. (a) The board
40	40	shall appoint a securities commissioner who serves at the pleasure
41	41	of the board and who, under the board's supervision, shall
42	42	administer this title.
43	43	(b) The board shall determine the commissioner's salary.
44	44	SECTION 6. Subchapter C, Chapter 4002, Government Code, is
45	45	amended by adding Section 4002.1045 to read as follows:
46	46	Sec. 4002.1045. BOARD EMPLOYEES. The commissioner shall
47	47	determine the number of board employees and the employees'
48	48	salaries.
49	49	SECTION 7. Subchapter D, Chapter 4002, Government Code, is
50	50	amended by adding Section 4002.164 to read as follows:
51	51	Sec. 4002.164. REPORT TO BOARD. Periodically, the
52	52	commissioner shall submit to the members of the board, as directed
53	53	by the board members, a report of the receipts and expenditures of
54	54	the agency.
55	55	SECTION 8. Section 4006.001, Government Code, is amended to
56	56	read as follows:
57	57	Sec. 4006.001. CERTAIN REGISTRATION AND NOTICE FILING FEES.
58	58	The board shall establish the following fees to produce [in amounts
59	59	so that the aggregate amount that exceeds the amount of the fees on
60	60	September 1, 2002, produces] sufficient revenue to cover the costs
61	61	of administering and enforcing this title:
62	62	(1) for filing an original, amended, or renewal
63	63	application or registration statement to sell or dispose of
64	64	securities[, an amount not to exceed $100];
65	65	(2) for filing an original application of a dealer or
66	66	investment adviser or submitting a notice filing for a federal
67	67	covered investment adviser[, an amount not to exceed $100];
68	68	(3) for filing a renewal application of a dealer or
69	69	investment adviser or submitting a renewal notice filing for a
70	70	federal covered investment adviser[, an amount not to exceed $100];
71	71	(4) for filing an original application for each agent,
72	72	officer, or investment adviser representative or submitting a
73	73	notice filing for each representative of a federal covered
74	74	investment adviser[, an amount not to exceed $100]; and
75	75	(5) for filing a renewal application for each agent,
76	76	officer, or investment adviser representative or submitting a
77	77	renewal notice filing for each representative of a federal covered
78	78	investment adviser[, an amount not to exceed $100].
79	79	SECTION 9. Section 4006.103, Government Code, is amended to
80	80	read as follows:
81	81	Sec. 4006.103. PAYMENT OF CERTAIN COSTS. A cost incurred by
82	82	the board in administering or enforcing this title may be paid only
83	83	from a fee collected under Section 4006.001.
84	84	SECTION 10. Section 4006.104, Government Code, is amended
85	85	to read as follows:
86	86	Sec. 4006.104. REFUND OF REGISTRATION FEE. If the
87	87	commissioner or board determines that all or part of a registration
88	88	fee should be refunded, the [commissioner may make the] refund
89	89	shall be made by warrant on the state treasury from the fund into
90	90	which the registration fee was deposited [money appropriated from
91	91	the general revenue fund for that purpose].
92	92	SECTION 11. Subchapter A, Chapter 4007, Government Code, is
93	93	amended by adding Section 4007.003 to read as follows:
94	94	Sec. 4007.003. REPRESENTATION BY ATTORNEY GENERAL. (a)
95	95	The attorney general may assess and collect from the commissioner
96	96	or the board reasonable attorney's fees associated with any legal
97	97	representation requested by the commissioner and provided by the
98	98	attorney general.
99	99	(b) Notwithstanding any other law, a requirement that the
100	100	attorney general represent an agency in any litigation does not
101	101	apply to a proceeding under this title that is governed by Chapter
102	102	2001.
103	103	SECTION 12. The following provisions of the Government Code
104	104	are repealed:
105	105	(1) Section 4002.001;
106	106	(2) Section 4002.155;
107	107	(3) Section 4002.163;
108	108	(4) Section 4006.101; and
109	109	(5) Section 4006.251.
110	110	SECTION 13. Subject to Chapter 472, Government Code, the
111	111	appropriations made to the State Securities Board by an Act of the
112	112	88th Legislature, Regular Session, 2023, may be spent by the State
113	113	Securities Board as the securities commissioner directs. The board
114	114	shall repay to the general revenue fund the appropriation made to
115	115	the agency for the state fiscal year ending August 31, 2024, not
116	116	later than that date and as funds become available. The board shall
117	117	repay to the general revenue fund the appropriation made to the
118	118	board for the state fiscal year ending August 31, 2025, not later
119	119	than that date and as funds become available.
120	120	SECTION 14. The transfer of the State Securities Board to
121	121	self-directed and semi-independent status under this Act and the
122	122	expiration of self-directed and semi-independent status may not act
123	123	to cancel, suspend, or prevent:
124	124	(1) any debt owed to or by the State Securities Board;
125	125	(2) any fine, tax, penalty, or obligation of any
126	126	party;
127	127	(3) any contract or other obligation of any party; or
128	128	(4) any action taken by the State Securities Board,
129	129	the securities commissioner, or the board's employees in the
130	130	administration or enforcement of the agency's duties.
131	131	SECTION 15. The State Securities Board shall continue to
132	132	have and exercise the powers and duties allocated to the board in
133	133	the board's enabling legislation, except as specifically amended by
134	134	this Act.
135	135	SECTION 16. Title to or ownership of all supplies,
136	136	materials, records, equipment, books, papers, and furniture used by
137	137	the State Securities Board is transferred to the State Securities
138	138	Board in fee simple. This Act does not affect any property owned by
139	139	the State Securities Board on or before the effective date of this
140	140	Act.
141	141	SECTION 17. Beginning September 1, 2023, the State
142	142	Securities Board shall pay rent to this state in a reasonable amount
143	143	to be determined by the Texas Facilities Commission for its use and
144	144	occupancy of state-owned office space.
145	145	SECTION 18. This Act takes effect September 1, 2023.