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A BILL TO BE ENTITLED
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AN ACT
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relating to examination fees for the review and approval of public |
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securities and related proceedings and funding for victims |
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assistance and sexual assault prevention services. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1202.004, Government Code, is amended to |
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read as follows: |
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Sec. 1202.004. FEE FOR EXAMINATION BY ATTORNEY GENERAL. |
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(a) When an issuer submits a record of proceedings to the attorney |
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general for examination and approval as provided by law, the issuer |
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shall pay a nonrefundable examination fee to the attorney general |
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in accordance with this section. |
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(b) If the issuer is issuing multiple series or subseries of |
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a single public security issue, the issuer shall pay the fee |
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prescribed by this section for each series or subseries. |
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(c) Except as provided by Subsection (d) and (e), the |
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nonrefundable examination fee required by this section is equal to |
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the lesser of: |
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(1) one-tenth of one percent of the principal amount |
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of the public security to which the record of proceedings relates; |
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or |
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(2) $50,000 [$9,500]. |
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(d) The minimum examination fee required by this section is |
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$750. |
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(e) If the issuer is a non-profit corporation, the |
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nonrefundable examination fee required by this section is equal to |
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one-fourth of one percent of the principal amount of the public |
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security to which the record of proceedings relates. |
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(f) The attorney general may adopt rules necessary to |
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administer this section. |
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(g) Fees collected by the attorney general under this |
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section shall be deposited in the state treasury and expended as |
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provided in the general appropriations act. Fees collected in |
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excess of amounts provided in the general appropriations act may be |
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appropriated back to the attorney general for the purpose of |
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administering victim related services and sexual assault programs. |
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SECTION 2. The changes in law made by this Act apply only to |
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a bond approval submitted to the attorney general on or after the |
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effective date of this Act. A bond approval submitted to the |
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attorney general before the effective date of this Act is govnerend |
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by the law in effect on the date the bond was submitted, and the |
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former law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect on September 1, 2021. |