Bill Text: TX HB4131 | 2021-2022 | 87th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the self-directed and semi-independent status of the State Securities Board; authorizing fees.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2021-05-12 - Referred to Finance [HB4131 Detail]
Download: Texas-2021-HB4131-Comm_Sub.html
Bill Title: Relating to the self-directed and semi-independent status of the State Securities Board; authorizing fees.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2021-05-12 - Referred to Finance [HB4131 Detail]
Download: Texas-2021-HB4131-Comm_Sub.html
87R15883 SRA-F | |||
By: Parker, Anchia, Stephenson, Capriglione, | H.B. No. 4131 | ||
Perez | |||
Substitute the following for H.B. No. 4131: | |||
By: Capriglione | C.S.H.B. No. 4131 |
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relating to the self-directed and semi-independent status of the | ||
State Securities Board; authorizing fees. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 472.001, Government Code, is amended to | ||
read as follows: | ||
Sec. 472.001. APPLICABILITY OF CHAPTER. This chapter | ||
applies to: | ||
(1) the Texas State Board of Public Accountancy; | ||
(2) the Texas Board of Professional Engineers and Land | ||
Surveyors; [ |
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(3) the Texas Board of Architectural Examiners; and | ||
(4) the State Securities Board. | ||
SECTION 2. Subchapter A, Chapter 4002, Government Code, as | ||
effective January 1, 2022, is amended by adding Section 4002.003 to | ||
read as follows: | ||
Sec. 4002.003. SELF-DIRECTED AND SEMI-INDEPENDENT STATUS. | ||
The State Securities Board has self-directed and semi-independent | ||
status as provided under Chapter 472. | ||
SECTION 3. Section 4002.057, Government Code, as effective | ||
January 1, 2022, is amended to read as follows: | ||
Sec. 4002.057. PER DIEM. A member of the board is entitled | ||
to reimbursement for travel expenses incurred [ |
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business of the board. | ||
SECTION 4. Section 4002.058(c), Government Code, as | ||
effective January 1, 2022, is amended to read as follows: | ||
(c) A person appointed to the board is entitled to | ||
reimbursement[ |
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travel expenses incurred in attending the training program | ||
regardless of whether the attendance at the program occurs before | ||
or after the person qualifies for office. | ||
SECTION 5. Section 4002.101, Government Code, as effective | ||
January 1, 2022, is amended to read as follows: | ||
Sec. 4002.101. SECURITIES COMMISSIONER. (a) The board | ||
shall appoint a securities commissioner who serves at the pleasure | ||
of the board and who, under the board's supervision, shall | ||
administer this title. | ||
(b) The board shall determine the commissioner's salary. | ||
SECTION 6. Subchapter C, Chapter 4002, Government Code, as | ||
effective January 1, 2022, is amended by adding Section 4002.1045 | ||
to read as follows: | ||
Sec. 4002.1045. BOARD EMPLOYEES. The commissioner shall | ||
determine the number of board employees and the employees' | ||
salaries. | ||
SECTION 7. Subchapter D, Chapter 4002, Government Code, as | ||
effective January 1, 2022, is amended by adding Section 4002.164 to | ||
read as follows: | ||
Sec. 4002.164. REPORT TO BOARD. Periodically, the | ||
commissioner shall submit to the members of the board, as directed | ||
by the board members, a report of the receipts and expenditures of | ||
the agency. | ||
SECTION 8. Section 4006.001, Government Code, as effective | ||
January 1, 2022, is amended to read as follows: | ||
Sec. 4006.001. CERTAIN REGISTRATION AND NOTICE FILING FEES. | ||
The board shall establish the following fees to produce [ |
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of administering and enforcing this title: | ||
(1) for filing an original, amended, or renewal | ||
application or registration statement to sell or dispose of | ||
securities[ |
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(2) for filing an original application of a dealer or | ||
investment adviser or submitting a notice filing for a federal | ||
covered investment adviser[ |
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(3) for filing a renewal application of a dealer or | ||
investment adviser or submitting a renewal notice filing for a | ||
federal covered investment adviser[ |
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(4) for filing an original application for each agent, | ||
officer, or investment adviser representative or submitting a | ||
notice filing for each representative of a federal covered | ||
investment adviser[ |
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(5) for filing a renewal application for each agent, | ||
officer, or investment adviser representative or submitting a | ||
renewal notice filing for each representative of a federal covered | ||
investment adviser[ |
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SECTION 9. Section 4006.103, Government Code, as effective | ||
January 1, 2022, is amended to read as follows: | ||
Sec. 4006.103. PAYMENT OF CERTAIN COSTS. A cost incurred by | ||
the board in administering or enforcing this title may be paid only | ||
from a fee collected under Section 4006.001. | ||
SECTION 10. Section 4006.104, Government Code, as effective | ||
January 1, 2022, is amended to read as follows: | ||
Sec. 4006.104. REFUND OF REGISTRATION FEE. If the | ||
commissioner or board determines that all or part of a registration | ||
fee should be refunded, the [ |
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shall be made by warrant on the state treasury from the fund into | ||
which the registration fee was deposited [ |
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SECTION 11. Subchapter A, Chapter 4007, Government Code, as | ||
effective January 1, 2022, is amended by adding Section 4007.003 to | ||
read as follows: | ||
Sec. 4007.003. REPRESENTATION BY ATTORNEY GENERAL. (a) | ||
The attorney general may assess and collect from the commissioner | ||
or the board reasonable attorney's fees associated with any legal | ||
representation requested by the commissioner and provided by the | ||
attorney general. | ||
(b) Notwithstanding any other law, a requirement that the | ||
attorney general represent an agency in any litigation does not | ||
apply to a proceeding under this title that is governed by Chapter | ||
2001. | ||
SECTION 12. Effective January 1, 2022, the following | ||
provisions of the Government Code, as effective January 1, 2022, | ||
are repealed: | ||
(1) Section 4002.001; | ||
(2) Section 4002.155; | ||
(3) Section 4002.163; | ||
(4) Section 4006.101; and | ||
(5) Section 4006.251. | ||
SECTION 13. Subject to Chapter 472, Government Code, the | ||
appropriations made to the State Securities Board by an Act of the | ||
87th Legislature, Regular Session, 2021, may be spent by the State | ||
Securities Board as the securities commissioner directs. The board | ||
shall repay to the general revenue fund the appropriation made to | ||
the agency for the state fiscal year ending August 31, 2022, not | ||
later than that date and as funds become available. The board shall | ||
repay to the general revenue fund the appropriation made to the | ||
board for the state fiscal year ending August 31, 2023, not later | ||
than that date and as funds become available. | ||
SECTION 14. The transfer of the State Securities Board to | ||
self-directed and semi-independent status under this Act and the | ||
expiration of self-directed and semi-independent status may not act | ||
to cancel, suspend, or prevent: | ||
(1) any debt owed to or by the State Securities Board; | ||
(2) any fine, tax, penalty, or obligation of any | ||
party; | ||
(3) any contract or other obligation of any party; or | ||
(4) any action taken by the State Securities Board, | ||
the securities commissioner, or the board's employees in the | ||
administration or enforcement of the agency's duties. | ||
SECTION 15. The State Securities Board shall continue to | ||
have and exercise the powers and duties allocated to the board in | ||
the board's enabling legislation, except as specifically amended by | ||
this Act. | ||
SECTION 16. Title to or ownership of all supplies, | ||
materials, records, equipment, books, papers, and furniture used by | ||
the State Securities Board is transferred to the State Securities | ||
Board in fee simple. This Act does not affect any property owned by | ||
the State Securities Board on or before the effective date of this | ||
Act. | ||
SECTION 17. Beginning January 1, 2022, the State Securities | ||
Board shall pay rent to this state in a reasonable amount to be | ||
determined by the Texas Facilities Commission for its use and | ||
occupancy of state-owned office space. | ||
SECTION 18. This Act takes effect January 1, 2022. |