85R9546 ATP-D     By: Turner H.B. No. 1941       A BILL TO BE ENTITLED   AN ACT   relating to the contents of and public access to personal financial   statements filed by public officials and candidates; amending   provisions subject to a criminal penalty.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Sections 572.022(a) and (d), Government Code,   are amended to read as follows:          (a)  If an amount in a financial statement is required to be   reported by category, the individual filing the statement shall   report whether the amount is:                (1)  less than $200 [$5,000];                (2)  at least $200 [$5,000] but less than $1,000   [$10,000];                (3)  at least $1,000 [$10,000] but less than $2,500   [$25,000];                (4)  at least $2,500 but less than $5,000;                (5)  at least $5,000 but less than $15,000;                (6)  at least $15,000 but less than $50,000;                (7)  at least $50,000 but less than $100,000;                (8)  at least $100,000 but less than $1,000,000;                (9)  at least $1,000,000 but less than $5,000,000; or                (10)  $5,000,000 [(4)  $25,000] or more.          (d)  For a gift [of cash or a cash equivalent such as a   negotiable instrument or gift certificate] that is reported in   accordance with Section 572.023(b)(7), the individual filing the   statement shall include in the description of the gift a statement   of the value of the gift. If the reported gift is cash or a cash   equivalent such as a negotiable instrument or gift certificate, the   description must include the actual face value of the gift.          SECTION 2.  Sections 572.023(a) and (b), Government Code,   are amended to read as follows:          (a)  A financial statement must include an account of the   financial activity of the individual required by this subchapter to   file a financial statement and an account of the financial activity   of the individual's spouse and dependent children if the individual   had actual control over that activity for:                (1)  the preceding calendar year; or                (2)  both the preceding calendar year and, listed   separately, the year before the preceding calendar year, for   information reported under Subsection (b)(1), (4), or (8).          (b)  The account of financial activity consists of:                (1)  a list of all sources of occupational income,   identified by employer, or if self-employed, by the nature of the   occupation, including identification of a person or other   organization from which the individual or a business in which the   individual has a substantial interest received a fee as a retainer   for a claim on future services in case of need, as distinguished   from a fee for services on a matter specified at the time of   contracting for or receiving the fee, if professional or   occupational services are not actually performed during the   reporting period equal to or in excess of the amount of the   retainer, and the category of the amount of the fee;                (2)  identification by name and the category of the   dollar value of the [number of] shares of stock of any business   entity held or acquired, and if sold, the category of the amount of   net gain or loss realized from the sale;                (3)  a list of all bonds, notes, and other commercial   paper held or acquired, and if sold, the category of the amount of   net gain or loss realized from the sale;                (4)  identification of each source and the category of   the amount of income in excess of $500 derived from each source from   interest, dividends, royalties, and rents;                (5)  identification of each guarantor of a loan and   identification of each person or financial institution to whom a   personal note or notes or lease agreement for a total financial   liability in excess of $1,000 existed at any time during the year,   the date the liability was incurred, and the category of the amount   of the liability;                (6)  identification by description of all beneficial   interests in real property and business entities held or acquired,   and if sold, the category of the amount of the net gain or loss   realized from the sale;                (7)  identification of a person or other organization   from which the individual or the individual's spouse or dependent   children received a gift of anything of value in excess of $250 and   a description of each gift, except:                      (A)  a gift received from an individual related to   the individual at any time within the second degree by   consanguinity or affinity, as determined under Subchapter B,   Chapter 573;                      (B)  a political contribution that was reported as   required by Chapter 254, Election Code; and                      (C)  an expenditure required to be reported by a   person required to be registered under Chapter 305;                (8)  identification of the source and the category of   the amount of all income received as beneficiary of a trust, other   than a blind trust that complies with Subsection (c), and   identification of each trust asset, if known to the beneficiary,   from which income was received by the beneficiary in excess of $500;                (9)  identification by description and the category of   the amount of all assets and liabilities of a corporation, firm,   partnership, limited partnership, limited liability partnership,   professional corporation, professional association, joint venture,   or other business association in which 50 percent or more of the   outstanding ownership was held, acquired, or sold;                (10)  a list of all boards of directors of which the   individual is a member and executive positions that the individual   holds in corporations, firms, partnerships, limited partnerships,   limited liability partnerships, professional corporations,   professional associations, joint ventures, or other business   associations or proprietorships, stating the name of each   corporation, firm, partnership, limited partnership, limited   liability partnership, professional corporation, professional   association, joint venture, or other business association or   proprietorship and the position held;                (11)  identification of any person providing   transportation, meals, or lodging expenses permitted under Section   36.07(b), Penal Code, and the amount of those expenses, other than   expenditures required to be reported under Chapter 305;                (12)  any corporation, firm, partnership, limited   partnership, limited liability partnership, professional   corporation, professional association, joint venture, or other   business association, excluding a publicly held corporation, in   which both the individual and a person registered under Chapter 305   have an interest;                (13)  identification by name and the category of the   number of shares of any mutual fund held or acquired, and if sold,   the category of the amount of net gain or loss realized from the   sale; and                (14)  identification of each blind trust that complies   with Subsection (c), including:                      (A)  the category of the fair market value of the   trust;                      (B)  the date the trust was created;                      (C)  the name and address of the trustee; and                      (D)  a statement signed by the trustee, under   penalty of perjury, stating that:                            (i)  the trustee has not revealed any   information to the individual, except information that may be   disclosed under Subdivision (8); and                            (ii)  to the best of the trustee's knowledge,   the trust complies with this section.          SECTION 3.  Section 572.032, Government Code, is amended by   amending Subsection (a) and adding Subsection (d) to read as   follows:          (a)  Financial statements filed under this subchapter are   public records. The commission shall maintain the statements in   separate alphabetical files and in a manner that is accessible to   the public during regular office hours and make the statements   available to the public on the commission's website not later than   the 15th day after the date the statement is required to be filed or   is actually filed, whichever is later.          (d)  The commission is not required to continue to make   available on its website a financial statement that may be   destroyed under Subsection (c).  The commission may not make   available on its website a financial statement that the commission   is required to destroy under Subsection (c).          SECTION 4.  Sections 572.022(b) and 572.032(b), Government   Code, are repealed.          SECTION 5.  The changes in law made by this Act to Sections   572.022 and 572.023, Government Code, apply only to a financial   statement filed under Subchapter B, Chapter 572, Government Code,   on or after January 1, 2019. A financial statement filed before   January 1, 2019, is governed by the law in effect on the date of   filing, and the former law is continued in effect for that purpose.          SECTION 6.  This Act takes effect immediately if it receives   a vote of two-thirds of all the members elected to each house, as   provided by Section 39, Article III, Texas Constitution. If this   Act does not receive the vote necessary for immediate effect, this   Act takes effect September 1, 2017.