Bill Text: TX HB444 | 2019-2020 | 86th Legislature | Engrossed


Bill Title: Relating to increasing the criminal penalties for insider trading and other misuse of official information by public servants.

Spectrum: Bipartisan Bill

Status: (Engrossed) 2019-04-15 - Referred to State Affairs [HB444 Detail]

Download: Texas-2019-HB444-Engrossed.html
  86R7419 ATP-D
 
  By: Meyer, Anchia, E. Johnson of Dallas, H.B. No. 444
      González of El Paso, Leach
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to increasing the criminal penalties for insider trading
  and other misuse of official information by public servants.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 39.06, Penal Code, is amended by
  amending Subsection (e) and adding Subsection (g) to read as
  follows:
         (e)  Except as provided by Subsection (g) [(f)], an offense
  under this section is a felony of the third degree.
         (g)  If the commission of an offense under this section
  results in a net pecuniary gain to the person committing the
  offense, the offense is:
               (1)  a felony of the third degree if the net pecuniary
  gain is less than $150,000;
               (2)  a felony of the second degree if the net pecuniary
  gain is $150,000 or more but less than $300,000; or
               (3)  a felony of the first degree if the net pecuniary
  gain is $300,000 or more.
         SECTION 2.  Section 39.06(f), Penal Code, is repealed.
         SECTION 3.  (a) The change in law made by this Act applies
  only to an offense committed on or after the effective date of this
  Act. For purposes of this section, an offense is committed before
  the effective date of this Act if any element of the offense occurs
  before the effective date.
         (b)  An offense committed before the effective date of this
  Act is covered by the law in effect when the offense was committed,
  and the former law is continued in effect for that purpose.
         SECTION 4.  This Act takes effect September 1, 2019.
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