Bill Text: TX HB4053 | 2023-2024 | 88th Legislature | Comm Sub

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Bill Title: Relating to the contents of the personal financial statement filed by public officers and candidates.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Engrossed - Dead) 2023-05-22 - Not again placed on intent calendar [HB4053 Detail]

Download: Texas-2023-HB4053-Comm_Sub.html

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By: Johnson of Dallas (Senate Sponsor - Hughes) H.B. No. 4053
(In the Senate - Received from the House May 3, 2023;
May 5, 2023, read first time and referred to Committee on State
Affairs; May 19, 2023, reported favorably by the following vote:
Yeas 8, Nays 1; May 19, 2023, sent to printer.)
Click here to see the committee vote

A BILL TO BE ENTITLED
AN ACT
relating to the contents of the personal financial statement filed
by public officers and candidates.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 572.022(c), Government Code, is amended
to read as follows:
(c) The individual filing the statement shall report a
description of real property by reporting:
(1) the street address, if available, or the number of
lots or number of acres, as applicable, in each county, and the name
of the county, if the street address is not available; and
(2) the names of all persons retaining an interest in
the property, excluding:
(A) an interest that is a severed mineral
interest; and
(B) the name of a person with an interest in the
property that holds a mortgage on the property that is otherwise
required to be reported in the statement.
SECTION 2. Section 572.023, Government Code, is amended by
amending Subsection (b) and adding Subsections (b-1), (h), (i), and
(j) to read as follows:
(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
value [number] of shares of stock of any business entity held or
acquired, except as provided by Subsection (j)[, 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, except as provided by Subsection (j)[, 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[:
[(A) by description of a corporation, firm,
partnership, limited partnership, limited liability partnership,
professional corporation, professional association, joint venture,
or other business association in which five percent or more of the
outstanding ownership was held, acquired, or sold; and
[(B)] 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 from which the individual receives
compensation and executive positions, only if the executive
position held is president, vice president, secretary, treasurer,
or chairman, 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
value [number] of shares of any mutual fund held or acquired, except
as provided by Subsection (j)[, and if sold, the category of the
amount of net gain or loss realized from the sale];
(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;
(B) [(C)] the name and address of the trustee;
and
(C) [(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;
(15) if the aggregate cost of goods or services sold
under one or more written contracts described by this subdivision
exceeds $10,000 in the year covered by the report, identification
of each written contract, including the name of each party to the
contract:
(A) for the sale of goods or services in the
amount of $2,500 or more;
(B) to which the individual, the individual's
spouse, the individual's dependent child, or any business entity of
which the individual, the individual's spouse, or the individual's
dependent child, independently or in conjunction with one or more
persons described by this subsection, has at least a 50 percent
ownership interest is a party; and
(C) with:
(i) a governmental entity; or
(ii) a person who contracts with a
governmental entity, if the individual or entity described by
Paragraph (B) performs work arising out of the contract,
subcontract, or agreement between the person and the governmental
entity for a fee; and
(16) if the individual is a member of the legislature
and provides bond counsel services to an issuer, as defined by
Section 1201.002(1), identification of the following for each
issuance for which the individual served as bond counsel:
(A) the amount of the issuance;
(B) the name of the issuer;
(C) the date of the issuance;
(D) the amount of fees paid to the individual,
and whether the amount is:
(i) less than $5,000;
(ii) at least $5,000 but less than $10,000;
(iii) at least $10,000 but less than
$25,000; or
(iv) $25,000 or more; and
(E) the amount of fees paid to the individual's
firm, if applicable, and whether the amount is:
(i) less than $5,000;
(ii) at least $5,000 but less than $10,000;
(iii) at least $10,000 but less than
$25,000; or
(iv) $25,000 or more.
(b-1) Notwithstanding Section 572.022 and for the purpose
of reporting an amount in a financial statement by category under
Subsection (b), an individual required to file the statement shall
report whether the amount is:
(1) less than $25,000; or
(2) $25,000 or more.
(h) For purposes of Subsection (b)(9):
(1) "Asset" means a separate business entity, cash, or
real and personal property.
(2) "Liability" means a note, line of credit, lien, or
corporate lease.
(i) In prescribing the form and reporting requirements for a
financial statement filed under this chapter, the commission shall
ensure redundancies in reporting are reduced by combining, as
appropriate, reporting categories and limiting the need to report
information multiple times.
(j) For purposes of Subsections (b)(2), (3), and (13), an
individual whose financial activity described by those
subdivisions is managed by a disinterested third party is not
required to report that information if the individual submits with
the financial statement a sworn statement that:
(1) includes the name and address of the third party;
and
(2) is signed by the third party under penalty of
perjury affirming that the third party manages the relevant assets
without the individual's input as to holding or acquiring specific
assets.
SECTION 3. Section 572.024, Government Code, is amended to
read as follows:
Sec. 572.024. INFORMATION ABOUT SERVICES FOR LOBBYISTS OR
LOBBYIST EMPLOYERS. A state officer who receives a fee for services
rendered by the officer to or on behalf of a person required to be
registered under Chapter 305, or to or on behalf of a person or
entity that the officer actually knows directly compensates or
reimburses a person required to be registered under Chapter 305,
shall report on the financial statement:
(1) the name of each person or entity for which the
services were rendered; and
(2) whether the [category of the] amount of each fee
is:
(A) less than $25,000; or
(B) $25,000 or more.
SECTION 4. Section 572.025, Government Code, is amended to
read as follows:
Sec. 572.025. INFORMATION ABOUT LEGISLATORS'
REPRESENTATION BEFORE EXECUTIVE STATE AGENCIES. A member of the
legislature who represents another person for compensation before
an executive state agency shall report on the financial statement:
(1) the name of the agency;
(2) the person represented by the member; and
(3) whether the [category of the] amount of
compensation received by the member for that representation is:
(A) less than $25,000; or
(B) $25,000 or more.
SECTION 5. Section 572.022(b), Government Code, is
repealed.
SECTION 6. The changes in law made by this Act apply only to
a financial statement filed under Subchapter B, Chapter 572,
Government Code, on or after the effective date of this Act. A
financial statement filed before the effective date of this Act is
governed by the law in effect on the date of filing, and the former
law is continued in effect for that purpose.
SECTION 7. This Act takes effect September 1, 2023.
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