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A BILL TO BE ENTITLED
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AN ACT
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relating to creating the criminal offense of financial abuse of an |
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elderly individual. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 32, Penal Code, is amended |
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by adding Section 32.55 to read as follows: |
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Sec. 32.55. FINANCIAL ABUSE OF ELDERLY INDIVIDUAL. (a) In |
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this section: |
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(1) "Elderly individual" has the meaning assigned by |
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Section 22.04. |
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(2) "Financial abuse" means the wrongful taking, |
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appropriation, obtaining, retention, or use of, or assisting in the |
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wrongful taking, appropriation, obtaining, retention, or use of, |
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money or other property of another person by any means, including by |
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exerting undue influence. The term includes financial |
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exploitation. |
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(3) "Financial exploitation" means the wrongful |
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taking, appropriation, obtaining, retention, or use of money or |
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other property of another person by a person who has a relationship |
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of confidence or trust with the other person. Financial |
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exploitation may involve coercion, manipulation, threats, |
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intimidation, misrepresentation, or the exerting of undue |
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influence. The term includes: |
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(A) the breach of a fiduciary relationship, |
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including the misuse of a durable power of attorney or the abuse of |
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guardianship powers, that results in the unauthorized |
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appropriation, sale, or transfer of another person's property; |
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(B) the unauthorized taking of personal assets; |
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(C) the misappropriation, misuse, or |
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unauthorized transfer of another person's money from a personal or |
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a joint account; and |
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(D) the knowing or intentional failure to |
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effectively use another person's income and assets for the |
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necessities required for the person's support and maintenance. |
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(b) For purposes of Subsection (a)(3), a person has a |
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relationship of confidence or trust with another person if the |
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person: |
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(1) is a parent, spouse, adult child, or other |
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relative by blood or marriage of the other person; |
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(2) is a joint tenant or tenant in common with the |
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other person; |
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(3) has a legal or fiduciary relationship with the |
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other person; |
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(4) is a financial planner or investment professional |
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who provides services to the other person; or |
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(5) is a paid or unpaid caregiver of the other person. |
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(c) A person commits an offense if the person knowingly |
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engages in the financial abuse of an elderly individual. |
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(d) An offense under this section is: |
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(1) a state jail felony if the value of the property |
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taken, appropriated, obtained, retained, or used is less than $500; |
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(2) a felony of the third degree if the value of the |
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property taken, appropriated, obtained, retained, or used is $500 |
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or more but less than $10,000; |
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(3) a felony of the second degree if the value of the |
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property taken, appropriated, obtained, retained, or used is |
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$10,000 or more but less than $100,000; and |
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(4) a felony of the first degree if the value of the |
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property taken, appropriated, obtained, retained, or used is |
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$100,000 or more. |
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(e) A person who is subject to prosecution under both this |
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section and another section of this code may be prosecuted under |
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either section or both sections. |
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SECTION 2. This Act takes effect September 1, 2021. |