Bill Text: TX HB1294 | 2015-2016 | 84th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the disclosure on personal financial statements of certain contracts or subcontracts with governmental entities.
Spectrum: Partisan Bill (Republican 6-0)
Status: (Engrossed - Dead) 2015-05-11 - Referred to State Affairs [HB1294 Detail]
Download: Texas-2015-HB1294-Comm_Sub.html
Bill Title: Relating to the disclosure on personal financial statements of certain contracts or subcontracts with governmental entities.
Spectrum: Partisan Bill (Republican 6-0)
Status: (Engrossed - Dead) 2015-05-11 - Referred to State Affairs [HB1294 Detail]
Download: Texas-2015-HB1294-Comm_Sub.html
84R3395 ATP-D | ||
By: Capriglione, Geren | H.B. No. 1294 |
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relating to the disclosure on personal financial statements of | ||
certain contracts or subcontracts with governmental entities. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 572.023, Government Code, is amended by | ||
amending Subsection (b) and adding Subsection (e) to read as | ||
follows: | ||
(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 | ||
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 | ||
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; [ |
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(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; and | ||
(15) if the aggregate cost of goods or services sold | ||
under one or more written contracts described by this subdivision | ||
exceeds $10,000 in the year covered by the report, identification | ||
of each written contract, including the name of each party to the | ||
contract: | ||
(A) for the sale of goods or services in the | ||
amount of $2,500 or more; | ||
(B) to which the individual, the individual's | ||
spouse, the individual's dependent child, or any business entity of | ||
which the individual, the individual's spouse, or the individual's | ||
dependent child has at least a 50 percent ownership interest is a | ||
party; and | ||
(C) with: | ||
(i) a governmental entity; or | ||
(ii) a person who contracts with a | ||
governmental entity, to fulfill one or more of the person's | ||
obligations to the governmental entity under that contract. | ||
(e) In this section, "governmental entity" means the state, | ||
a political subdivision of the state, or an agency or department of | ||
the state or a political subdivision of the state. | ||
SECTION 2. The change in law made by this Act applies only | ||
to a financial statement filed under Subchapter B, Chapter 572, | ||
Government Code, as amended by this Act, on or after January 1, | ||
2017. A financial statement filed before January 1, 2017, is | ||
governed by the law in effect on the date of filing, and the former | ||
law is continued in effect for that purpose. | ||
SECTION 3. This Act takes effect September 1, 2015. |