SRC-TNM H.B. 3569 75(R)   BILL ANALYSIS


Senate Research Center   H.B. 3569
By: Madden (Shapiro)
State Affairs
5-13-97
Engrossed


DIGEST 

During the 1996 election cycle, a candidate for state-wide office found
that fervent supporters around the state had opened campaign bank accounts
without his knowledge.  The candidate's financial reports were inaccurate
to the extent that the transactions taking place in these accounts were
not included because their existence was unknown.  H.B. 3569 would make it
impossible for a campaign account to be opened for a candidate without
that candidate's knowledge.  The candidate would have access to
information regarding all financial transactions so that the reporting
which is required by law is accurate. 

PURPOSE

As proposed, H.B. 3569 outlines provisions regarding bank accounts in the
name of candidates for public office. 

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Title 16, V.T.C.S., by adding Article 360, as follows:

Art. 360. BANK ACCOUNTS FOR CANDIDATES FOR PUBLIC OFFICE

Sec. 1. DEFINITIONS. Defines "candidate"  and "financial institution."

Sec. 2. CONSENT OF CANDIDATE REQUIRED. Prohibits a financial institution
from opening an account in the name of a candidate without obtaining that
candidate's consent and signature. 

Sec. 3. CANDIDATE NEED NOT BE SIGNATORY. Provides that Section 2 of this
article does not require that the candidate be a signatory to the account. 

SECTION 2. Effective date: September 1, 1997.

SECTION 3. Emergency clause.