Bill Text: TX SB111 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the criminal penalties for insider trading and other misuse of official information by public servants.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-01-27 - Referred to State Affairs [SB111 Detail]
Download: Texas-2015-SB111-Introduced.html
84R177 ATP-D | ||
By: Taylor, Van | S.B. No. 111 |
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relating to 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 (f) or (g), 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 $100,000; | ||
(2) a felony of the second degree if the net pecuniary | ||
gain is $100,000 or more but less than $200,000; or | ||
(3) a felony of the first degree if the net pecuniary | ||
gain is $200,000 or more. | ||
SECTION 2. (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 3. This Act takes effect September 1, 2015. |