| 2 | 4 | | |
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| 3 | 5 | | |
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| 4 | 6 | | A BILL TO BE ENTITLED |
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| 5 | 7 | | AN ACT |
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| 6 | 8 | | relating to a prohibition on the acceptance of certain compensation |
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| 7 | 9 | | or employment by current or former members of the legislature for |
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| 8 | 10 | | work involving bond services; creating a criminal offense. |
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| 9 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 12 | | SECTION 1. Subchapter C, Chapter 572, Government Code, is |
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| 11 | 13 | | amended by adding Section 572.062 to read as follows: |
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| 12 | 14 | | Sec. 572.062. CERTAIN COMPENSATION AND EMPLOYMENT BY |
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| 13 | 15 | | CURRENT OR FORMER MEMBERS OF LEGISLATURE PROVIDING BOND SERVICES |
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| 14 | 16 | | PROHIBITED. (a) Notwithstanding any other law, an individual may |
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| 15 | 17 | | not accept compensation or employment from a person that receives |
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| 16 | 18 | | money from any proceeds in connection with the issuance of bonds if |
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| 17 | 19 | | the individual provided financial advice, bond counsel, bond |
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| 18 | 20 | | underwriting, or another professional service associated with the |
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| 19 | 21 | | issuance of the bonds while the individual was a member of the |
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| 20 | 22 | | legislature. |
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| 21 | 23 | | (b) The prohibition under Subsection (a) applies until the |
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| 22 | 24 | | 10th anniversary of the later of: |
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| 23 | 25 | | (1) the date the bonds are issued; or |
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| 24 | 26 | | (2) the date the individual ceases to be a member of |
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| 25 | 27 | | the legislature. |
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| 26 | 28 | | (c) A person commits an offense if the person violates this |
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| 27 | 29 | | section. An offense under this section is a Class A misdemeanor. |
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| 28 | 30 | | SECTION 2. Section 572.062, Government Code, as added by |
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| 29 | 31 | | this Act, applies only to compensation paid or employment that |
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| 30 | 32 | | commences on or after the effective date of this Act. Compensation |
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| 31 | 33 | | that is paid or employment that commences before the effective date |
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| 32 | 34 | | of this Act is governed by the law in effect on the date the |
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| 33 | 35 | | compensation was paid or the employment commenced, and the former |
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| 34 | 36 | | law is continued in effect for that purpose. |
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| 35 | 37 | | SECTION 3. This Act takes effect September 1, 2025. |
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