Bill Text: TX SB111 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the criminal penalties for insider trading and other misuse of official information by public servants.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2015-01-27 - Referred to State Affairs [SB111 Detail]
Download: Texas-2015-SB111-Introduced.html
| 84R177 ATP-D | ||
| By: Taylor, Van | S.B. No. 111 | |
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| relating to 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 (f) or (g), 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 $100,000; | ||
| (2) a felony of the second degree if the net pecuniary | ||
| gain is $100,000 or more but less than $200,000; or | ||
| (3) a felony of the first degree if the net pecuniary | ||
| gain is $200,000 or more. | ||
| SECTION 2. (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 3. This Act takes effect September 1, 2015. | ||
