By: Toth H.B. No. 4468
A BILL TO BE ENTITLED
AN ACT
relating to a prohibition on the acceptance of certain compensation
or employment by current or former members of the legislature for
work involving bond services; creating a criminal offense.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter C, Chapter 572, Government Code, is
amended by adding Section 572.062 to read as follows:
Sec. 572.062. CERTAIN COMPENSATION AND EMPLOYMENT BY
CURRENT OR FORMER MEMBERS OF LEGISLATURE PROVIDING BOND SERVICES
PROHIBITED. (a) Notwithstanding any other law, an individual may
not accept compensation or employment from a person that receives
money from any proceeds in connection with the issuance of bonds if
the individual provided financial advice, bond counsel, bond
underwriting, or another professional service associated with the
issuance of the bonds while the individual was a member of the
legislature.
(b) The prohibition under Subsection (a) applies until the
10th anniversary of the later of:
(1) the date the bonds are issued; or
(2) the date the individual ceases to be a member of
the legislature.
(c) A person commits an offense if the person violates this
section. An offense under this section is a Class A misdemeanor.
SECTION 2. Section 572.062, Government Code, as added by
this Act, applies only to compensation paid or employment that
commences on or after the effective date of this Act. Compensation
that is paid or employment that commences before the effective date
of this Act is governed by the law in effect on the date the
compensation was paid or the employment commenced, and the former
law is continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2025.