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A BILL TO BE ENTITLED
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AN ACT
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relating to restrictions on payment of certain loans with political |
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contributions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 253.042(b), Election Code, is amended |
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to read as follows: |
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(b) A candidate or officeholder who accepts one or more |
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political contributions in the form of loans, including an |
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extension of credit or a guarantee of a loan or extension of credit, |
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from one or more persons related to the candidate or officeholder |
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within the second degree by affinity or consanguinity may not use |
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political contributions to repay the loans in amounts that in the |
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aggregate exceed the amount prescribed by Subsection (a). A |
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candidate or officeholder may not use political contributions, in |
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amounts that in the aggregate exceed the amount prescribed by |
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Subsection (a), to repay any other loan or extension of credit for |
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which the candidate or officeholder is personally liable or is |
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obligated or that the candidate or officeholder guarantees. |
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SECTION 2. Section 253.162, Election Code, is amended by |
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amending Subsections (b) and (c) and adding Subsection (b-1) to |
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read as follows: |
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(b) A judicial candidate or officeholder may not: |
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(1) use political contributions to repay a loan [who
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accepts one or more political contributions in the form of loans], |
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including an extension of credit or a guarantee of a loan or |
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extension of credit, from one or more persons related to the |
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candidate or officeholder within the second degree by |
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consanguinity, as determined under [Subchapter B,] Chapter 573, |
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Government Code; or |
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(2) use political contributions, in amounts that in |
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the aggregate exceed the amount prescribed by Subsection (a), to |
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repay any other loan or extension of credit for which the candidate |
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or officeholder is personally liable or is obligated or that the |
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candidate or officeholder guarantees[, may not use political
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contributions to repay the loans]. |
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(b-1) The total amount of both reimbursements under |
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Subsection (a) and repayments under Subsection (b)(2) made by a |
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candidate or officeholder may not exceed the amount prescribed by |
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Subsection (a). |
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(c) A person who is both a candidate and an officeholder may |
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reimburse the person's personal funds or repay loans from political |
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contributions only in one capacity. |
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SECTION 3. Sections 253.042(b) and 253.162, Election Code, |
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as amended by this Act, apply only to repayment of a loan or |
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extension of credit made on or after September 1, 2007. The |
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repayment of a loan or extension of credit made before September 1, |
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2007, is governed by the law in effect on the date the loan or |
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extension of credit is made, and the former law is continued in |
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effect for that purpose. |
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SECTION 4. This Act takes effect September 1, 2007. |