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

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

Sponsorship: Bipartisan Bill

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

Download: Texas-2019-HB444-Engrossed.html

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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 Section 39.06(f), Penal Code, is repealed.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.