Bill Text: TX HB1899 | 2023-2024 | 88th Legislature | Engrossed
Bill Title: Relating to increasing the criminal penalties for insider trading and other misuse of official information.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Engrossed - Dead) 2023-05-09 - Referred to State Affairs [HB1899 Detail]
Download: Texas-2023-HB1899-Engrossed.html
88R8793 MPF-D | ||
By: Meyer | H.B. No. 1899 |
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relating to increasing the criminal penalties for insider trading | ||
and other misuse of official information. | ||
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) [ |
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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 Section 39.06(f), Penal Code, is repealed.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 changes in law made by this Act apply | ||
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, 2023. |