LEGISLATIVE BUDGET BOARD
Austin, Texas
 
CRIMINAL JUSTICE IMPACT STATEMENT
 
79TH LEGISLATIVE REGULAR SESSION
 
April 26, 2005

TO:
Honorable David Swinford, Chair, House Committee on State Affairs
 
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
 
IN RE:
HB2842 by Chisum (Relating to the provision of false information to an independent public accounting firm by a public interest entity; providing a criminal penalty.), Committee Report 1st House, Substituted

The bill would amend the Penal Code by creating the offense of providing false information to an independent accounting firm.  The range of punishment for the offense would vary from a state jail felony to a felony of the first degree, depending on the monetary loss resulting from the violation. 
 
A state jail felony is punishable by confinement in a state jail for any term of not more than two years or less than 180 days, or in addition to confinement, a fine not to exceed $10,000. 
 
A third degree felony is punishable by imprisonment in the institutional division for any term of not more than 10 years or less than 2 years, or in addition to confinement, a fine not to exceed $10,000.
 
A second degree felony is punishable by imprisonment in the institutional division for any term of not more than 20 years or less than 2 years, or in addition to confinement, a fine not to exceed $10,000.
 
A first degree felony is punishable by imprisonment in the institutional division for life or for any term of not more than 99 years or less than 5 years, or in addition to imprisonment, a fine not to exceed $10,000.
 
The impact of the bill would depend on the number of offenders prosecuted and convicted for the offense of providing false information to an independent accounting firm.  It is assumed that the number of offenders convicted under this statute would not result in a significant impact on the programs and workload of state corrections agencies.


Source Agencies:
LBB Staff:
JOB, BT, VDS, GG