Bill Text: TX HB4471 | 2021-2022 | 87th Legislature | Comm Sub
Bill Title: Relating to examination fees for the review and approval of public securities and related proceedings and funding for victims assistance and sexual assault prevention services.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2021-05-11 - Committee report sent to Calendars [HB4471 Detail]
Download: Texas-2021-HB4471-Comm_Sub.html
By: Goldman, Howard | H.B. No. 4471 |
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relating to examination fees for the review and approval of public | ||
securities and related proceedings and funding for victims | ||
assistance and sexual assault prevention services. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 1202.004, Government Code, is amended to | ||
read as follows: | ||
Sec. 1202.004. FEE FOR EXAMINATION BY ATTORNEY GENERAL. | ||
(a) When an issuer submits a record of proceedings to the attorney | ||
general for examination and approval as provided by law, the issuer | ||
shall pay a nonrefundable examination fee to the attorney general | ||
in accordance with this section. | ||
(b) If the issuer is issuing multiple series or subseries of | ||
a single public security issue, the issuer shall pay the fee | ||
prescribed by this section for each series or subseries. | ||
(c) Except as provided by Subsection (d) and (e), the | ||
nonrefundable examination fee required by this section is equal to | ||
the lesser of: | ||
(1) one-tenth of one percent of the principal amount | ||
of the public security to which the record of proceedings relates; | ||
or | ||
(2) $50,000 [ |
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(d) The minimum examination fee required by this section is | ||
$750. | ||
(e) If the issuer is a non-profit corporation, the | ||
nonrefundable examination fee required by this section is equal to | ||
one-fourth of one percent of the principal amount of the public | ||
security to which the record of proceedings relates. | ||
(f) The attorney general may adopt rules necessary to | ||
administer this section. | ||
(g) Fees collected by the attorney general under this | ||
section shall be deposited in the state treasury and expended as | ||
provided in the general appropriations act. Fees collected in | ||
excess of amounts provided in the general appropriations act may be | ||
appropriated back to the attorney general for the purpose of | ||
administering victim related services and sexual assault programs. | ||
SECTION 2. The changes in law made by this Act apply only to | ||
a bond approval submitted to the attorney general on or after the | ||
effective date of this Act. A bond approval submitted to the | ||
attorney general before the effective date of this Act is govnerend | ||
by the law in effect on the date the bond was submitted, and the | ||
former law is continued in effect for that purpose. | ||
SECTION 3. This Act takes effect on September 1, 2021. |