Bill Text: TX HB1090 | 2017-2018 | 85th Legislature | Comm Sub

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

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

Spectrum: Moderate Partisan Bill (Republican 4-1)

Status: (Engrossed - Dead) 2017-05-04 - Referred to State Affairs [HB1090 Detail]

Download: Texas-2017-HB1090-Comm_Sub.html

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85R19660 ATP-D
By: Meyer H.B. No. 1090
Substitute the following for H.B. No. 1090:
By: Davis of Harris C.S.H.B. No. 1090

A BILL TO BE ENTITLED
AN ACT
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 $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. (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, 2017.