Bill Text: TX HB2629 | 2023-2024 | 88th Legislature | Engrossed

NOTE: There are more recent revisions of this legislation. Read Latest Draft

---

Bill Title: Relating to the reporting of direct campaign expenditures by certain persons and political committees.

Spectrum: Moderate Partisan Bill (Republican 16-3)

Status: (Vetoed) 2023-06-18 - Vetoed by the Governor [HB2629 Detail]

Download: Texas-2023-HB2629-Engrossed.html

---

By: Rogers, Geren, Longoria, Klick, Stucky, H.B. No. 2629
et al.

A BILL TO BE ENTITLED
AN ACT
relating to the reporting of direct campaign expenditures by
certain persons and political committees.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. This Act may be cited as the P.A.C. Transparency
and Accountability Act.
SECTION 2. Section 254.031(a), Election Code, is amended to
read as follows:
(a) Except as otherwise provided by this chapter, each
report filed under this chapter must include:
(1) the amount of political contributions, other than
political contributions described by Subdivision (1-a), from each
person that in the aggregate exceed $50 and that are accepted during
the reporting period by the person or committee required to file a
report under this chapter, the full name and address of the person
making the contributions, and the dates of the contributions;
(1-a) the amount of political contributions from each
person that are made electronically and that are accepted during
the reporting period by the person or committee required to file a
report under this chapter, the full name and address of the person
making the contributions, and the dates of the contributions;
(2) the amount of loans that are made during the
reporting period for campaign or officeholder purposes to the
person or committee required to file the report and that in the
aggregate exceed $50, the dates the loans are made, the interest
rate, the maturity date, the type of collateral for the loans, if
any, the full name and address of the person or financial
institution making the loans, the full name and address, principal
occupation, and name of the employer of each guarantor of the loans,
the amount of the loans guaranteed by each guarantor, and the
aggregate principal amount of all outstanding loans as of the last
day of the reporting period;
(3) the amount of political expenditures that in the
aggregate exceed $100 and that are made during the reporting
period, the full name and address of the persons to whom the
expenditures are made, and the dates and purposes of the
expenditures;
(4) the amount of each payment made during the
reporting period from a political contribution if the payment is
not a political expenditure, the full name and address of the person
to whom the payment is made, and the date and purpose of the
payment;
(5) the total amount or a specific listing of the
political contributions of $50 or less accepted and the total
amount or a specific listing of the political expenditures of $100
or less made during the reporting period;
(6) the total amount of all political contributions
accepted and the total amount of all political expenditures made
during the reporting period;
(7) the name of each candidate or officeholder for
whom [who benefits from] a direct campaign expenditure was made to
support or oppose during the reporting period by the person or
committee required to file the report, and the office sought or
held, excluding a direct campaign expenditure that is made by the
principal political committee of a political party on behalf of a
slate of two or more nominees of that party;
(8) as of the last day of a reporting period for which
the person is required to file a report, the total amount of
political contributions accepted, including interest or other
income on those contributions, maintained in one or more accounts
in which political contributions are deposited as of the last day of
the reporting period;
(9) any credit, interest, rebate, refund,
reimbursement, or return of a deposit fee resulting from the use of
a political contribution or an asset purchased with a political
contribution that is received during the reporting period and the
amount of which exceeds $100;
(10) any proceeds of the sale of an asset purchased
with a political contribution that is received during the reporting
period and the amount of which exceeds $100;
(11) any investment purchased with a political
contribution that is received during the reporting period and the
amount of which exceeds $100;
(12) any other gain from a political contribution that
is received during the reporting period and the amount of which
exceeds $100; and
(13) the full name and address of each person from whom
an amount described by Subdivision (9), (10), (11), or (12) is
received, the date the amount is received, and the purpose for which
the amount is received.
SECTION 3. The changes in law made by this Act apply only to
a report under Chapter 254, Election Code, that is required to be
filed on or after the effective date of this Act. A report under
that chapter that is required to be filed before the effective date
of this Act is governed by the law in effect on the date the report
is required to be filed, and the former law is continued in effect
for that purpose.
SECTION 4. This Act takes effect September 1, 2023.