By Madden H.B. No. 441
77R2030 PAM-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the disposition of unexpended political contributions.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 254.203(a), Election Code, is amended to
1-5 read as follows:
1-6 (a) A person may not retain political contributions covered
1-7 by this title, assets purchased with the contributions, or interest
1-8 and other income earned on the contributions for more than four
1-9 [six] years after the later of:
1-10 (1) the date the person [either] ceases to be an
1-11 officeholder; or
1-12 (2) the date of the most recent election in which the
1-13 person was a candidate [or files a final report under this chapter,
1-14 whichever is later].
1-15 SECTION 2. This Act takes effect September 1, 2001.
1-16 SECTION 3. Notwithstanding Section 254.203, Election Code,
1-17 as that section existed before amendment by this Act, a person who
1-18 ceased to be an officeholder or who was last a candidate in an
1-19 election before September 1, 1997, shall, not later than January 1,
1-20 2002, dispose of unexpended political contributions, assets
1-21 purchased with political contributions, and interest or other
1-22 income earned on political contributions in compliance with Section
1-23 254.203, Election Code, as amended by this Act. A person who
1-24 ceased to be an officeholder or candidate on or after September 1,
2-1 1997, shall dispose of unexpended political contributions, assets
2-2 purchased with political contributions, and interest or other
2-3 income earned on political contributions in compliance with Section
2-4 254.203, Election Code, as amended by this Act, regardless of
2-5 whether the person has filed a final report under Chapter 254,
2-6 Election Code.