Bill Text: TX HB1074 | 2013-2014 | 83rd Legislature | Introduced


Bill Title: Relating to the contents of and public access to personal financial statements and the creation of a select interim committee to undertake a comprehensive review of personal financial disclosures made to the Texas Ethics Commission and certain other authorities.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2013-02-19 - Referred to Elections [HB1074 Detail]

Download: Texas-2013-HB1074-Introduced.html
  83R7788 EES-F
 
  By: Howard H.B. No. 1074
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the contents of and public access to personal financial
  statements and the creation of a select interim committee to
  undertake a comprehensive review of personal financial disclosures
  made to the Texas Ethics Commission and certain other authorities.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Sections 572.023(a) and (b), Government Code,
  are amended to read as follows:
         (a)  A financial statement must include an account of the
  financial activity of the individual required by this subchapter to
  file a financial statement and an account of the financial activity
  of the individual's spouse and dependent children [if the
  individual had actual control over that activity] for the preceding
  calendar year.
         (b)  The account of financial activity consists of:
               (1)  a list of all sources of occupational income,
  identified by employer, or if self-employed, by the nature of the
  occupation, including identification of a person or other
  organization from which the individual or a business in which the
  individual has a substantial interest received a fee as a retainer
  for a claim on future services in case of need, as distinguished
  from a fee for services on a matter specified at the time of
  contracting for or receiving the fee, if professional or
  occupational services are not actually performed during the
  reporting period equal to or in excess of the amount of the
  retainer, and the category of the amount of the fee;
               (2)  identification by name and the category of the
  number of shares of stock of any business entity held or acquired,
  and if sold, the category of the amount of net gain or loss realized
  from the sale;
               (3)  a list of all bonds, notes, and other commercial
  paper held or acquired, and if sold, the category of the amount of
  net gain or loss realized from the sale;
               (4)  identification of each source and the category of
  the amount of income in excess of $500 derived from each source from
  interest, dividends, royalties, and rents;
               (5)  identification of each guarantor of a loan and
  identification of each person or financial institution to whom a
  personal note or notes or lease agreement for a total financial
  liability in excess of $1,000 existed at any time during the year
  and the category of the amount of the liability;
               (6)  identification by description of all beneficial
  interests in real property and business entities held or acquired,
  and if sold, the category of the amount of the net gain or loss
  realized from the sale;
               (7)  identification of a person or other organization
  from which the individual or the individual's spouse or dependent
  children received a gift of anything of value in excess of $250 and
  a description of each gift, except:
                     (A)  a gift received from an individual related to
  the individual at any time within the second degree by
  consanguinity or affinity, as determined under Subchapter B,
  Chapter 573;
                     (B)  a political contribution that was reported as
  required by Chapter 254, Election Code; and
                     (C)  an expenditure required to be reported by a
  person required to be registered under Chapter 305;
               (8)  identification of the source and the category of
  the amount of all income received as beneficiary of a trust, other
  than a blind trust that complies with Subsection (c), and
  identification of each trust asset, if known to the beneficiary,
  from which income was received by the beneficiary in excess of $500;
               (9)  identification by description and the category of
  the amount of all assets and liabilities of a corporation, firm,
  partnership, limited partnership, limited liability partnership,
  professional corporation, professional association, joint venture,
  or other business association in which 50 percent or more of the
  outstanding ownership was held, acquired, or sold;
               (10)  a list of all boards of directors of which the
  individual is a member and executive positions that the individual
  holds in corporations, firms, partnerships, limited partnerships,
  limited liability partnerships, professional corporations,
  professional associations, joint ventures, or other business
  associations or proprietorships, stating the name of each
  corporation, firm, partnership, limited partnership, limited
  liability partnership, professional corporation, professional
  association, joint venture, or other business association or
  proprietorship and the position held;
               (11)  identification of any person providing
  transportation, meals, or lodging expenses permitted under Section
  36.07(b), Penal Code, and the amount of those expenses, other than
  expenditures required to be reported under Chapter 305;
               (12)  any corporation, firm, partnership, limited
  partnership, limited liability partnership, professional
  corporation, professional association, joint venture, or other
  business association, excluding a publicly held corporation, in
  which both the individual and a person registered under Chapter 305
  have an interest;
               (13)  identification by name and the category of the
  number of shares of any mutual fund held or acquired, and if sold,
  the category of the amount of net gain or loss realized from the
  sale; [and]
               (14)  identification of each blind trust that complies
  with Subsection (c), including:
                     (A)  the category of the fair market value of the
  trust;
                     (B)  the date the trust was created;
                     (C)  the name and address of the trustee; and
                     (D)  a statement signed by the trustee, under
  penalty of perjury, stating that:
                           (i)  the trustee has not revealed any
  information to the individual, except information that may be
  disclosed under Subdivision (8); and
                           (ii)  to the best of the trustee's knowledge,
  the trust complies with this section; and
               (15)  identification of any other source of earned or
  unearned income, including a pension, individual retirement
  account, or other retirement plan, and the category of the amount of
  income derived from each source.
         SECTION 2.  Section 572.032(a), Government Code, is amended
  to read as follows:
         (a)  Financial statements filed under this subchapter are
  public records. The commission shall maintain the statements in
  separate alphabetical files and in a manner that is accessible to
  the public during regular office hours and make the statements
  available to the public on the commission's website.
         SECTION 3.  Sections 572.032(b) and (c), Government Code,
  are repealed.
         SECTION 4.  (a)  A select interim committee is created to
  study and review the procedures and effects of the filing of
  personal financial statements with the Texas Ethics Commission or
  other authorities under Chapter 572, Government Code, or other
  similar laws.
         (b)  The study must consider:
               (1)  the purposes of the current disclosure statutes
  and whether the statutes accomplish those purposes;
               (2)  the effectiveness of the current disclosure
  scheme; and
               (3)  what changes, if any, should be made to more
  effectively accomplish the purposes of personal financial
  disclosures.
         (c)  The committee is composed of:
               (1)  five members appointed by the lieutenant governor
  as follows:
                     (A)  two senators;
                     (B)  one representative of an open government
  advocacy organization;
                     (C)  one representative of an organization
  representing professional media; and
                     (D)  one member of the public;
               (2)  five members appointed by the speaker of the house
  of representatives as follows:
                     (A)  two state representatives;
                     (B)  one representative of an open government
  advocacy organization;
                     (C)  one representative of an organization
  representing professional media; and
                     (D)  one member of the public; and
               (3)  one member of the Texas Ethics Commission,
  appointed by the presiding officer of the Texas Ethics Commission,
  who shall serve as the presiding officer of the committee.
         (d)  The committee shall convene at the call of the presiding
  officer.
         (e)  The committee has all other powers and duties provided
  to a special or select committee by the rules of the senate and
  house of representatives, by Subchapter B, Chapter 301, Government
  Code, and by policies of the senate and house committees on
  administration.
         (f)  Not later than January 15, 2015, the committee shall
  report the committee's findings and recommendations to the
  lieutenant governor, the speaker of the house of representatives,
  and the governor. The committee shall include in its
  recommendations specific statutory and rule changes that appear
  necessary from the results of the committee's study under
  Subsection (a) of this section.
         (g)  Not later than the 60th day after the effective date of
  this Act, the lieutenant governor, the speaker of the house of
  representatives, and the presiding officer of the Texas Ethics
  Commission shall appoint the members of the committee created under
  this section.
         (h)  The Texas Legislative Council and the Texas Ethics
  Commission shall provide any necessary staff and resources to the
  committee created under this section.
         (i)  The committee created under this section is abolished
  and this section expires January 20, 2015.
         SECTION 5.  Section 572.023, Government Code, as amended by
  this Act, applies only to a financial statement filed under
  Subchapter B, Chapter 572, Government Code, on or after January 1,
  2014. A financial statement filed before January 1, 2014, is
  governed by the law in effect on the date of filing, and the former
  law is continued in effect for that purpose.
         SECTION 6.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution. If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2013.
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