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A BILL TO BE ENTITLED
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AN ACT
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relating to the contents of reports of political contributions and |
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expenditures. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsection (a), Section 254.031, Election Code, |
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is amended to read as follows: |
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(a) Except as otherwise provided by this chapter, each |
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report filed under this chapter must include: |
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(1) the amount of political contributions from each |
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person that in the aggregate exceed $50 and that are accepted during |
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the reporting period by the person or committee required to file a |
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report under this chapter, the full name and address of the person |
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making the contributions, and the dates of the contributions; |
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(2) the amount of loans that are made during the |
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reporting period for campaign or officeholder purposes to the |
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person or committee required to file the report and that in the |
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aggregate exceed $50, the dates the loans are made, the interest |
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rate, the maturity date, the type of collateral for the loans, if |
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any, the full name and address of the person or financial |
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institution making the loans, the full name and address, principal |
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occupation, and name of the employer of each guarantor of the loans, |
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the amount of the loans guaranteed by each guarantor, and the |
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aggregate principal amount of all outstanding loans as of the last |
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day of the reporting period; |
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(3) the amount of political expenditures that in the |
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aggregate exceed $50 and that are made during the reporting period, |
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the full name and address of the persons to whom the expenditures |
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are made, and the dates and purposes of the expenditures; |
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(4) the amount of each payment made during the |
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reporting period from a political contribution if the payment is |
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not a political expenditure, the full name and address of the person |
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to whom the payment is made, and the date and purpose of the |
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payment; |
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(5) the total amount or a specific listing of the |
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political contributions of $50 or less accepted and the total |
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amount or a specific listing of the political expenditures of $50 or |
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less made during the reporting period; |
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(6) the total amount of all political contributions |
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accepted and the total amount of all political expenditures made |
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during the reporting period; |
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(7) the name of each candidate or officeholder who |
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benefits from a direct campaign expenditure made during the |
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reporting period by the person or committee required to file the |
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report, and the office sought or held, excluding a direct campaign |
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expenditure that is made by the principal political committee of a |
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political party on behalf of a slate of two or more nominees of that |
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party; [and] |
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(8) as of the last day of a reporting period for which |
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the person is required to file a report, the total amount of |
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political contributions accepted, including interest or other |
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income on those contributions, that are on hand or maintained in one |
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or more accounts in which political contributions are deposited as |
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of the last day of the reporting period; |
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(9) the following amounts received during the |
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reporting period: |
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(A) any interest earned on a political |
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contribution; |
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(B) any proceeds of the sale of an asset or |
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investment purchased with a political contribution; and |
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(C) any other gain received from a political |
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contribution; and |
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(10) the full name and address of each person from whom |
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an amount described by Subdivision (9) is received, the date the |
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amount is received, and the purpose for which the amount is |
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received. |
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SECTION 2. Subchapter B, Chapter 254, Election Code, is |
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amended by adding Section 254.0313 to read as follows: |
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Sec. 254.0313. INVESTMENTS ARE REPORTABLE EXPENDITURES. |
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The purchase of an asset or investment with money received as a |
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political contribution is required to be reported as a political |
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expenditure under Section 254.031(a)(3). |
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SECTION 3. Subsection (a), Section 254.0611, Election Code, |
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is amended to read as follows: |
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(a) In addition to the contents required by Sections 254.031 |
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and 254.061, each report by a candidate for a judicial office |
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covered by Subchapter F, Chapter 253, must include: |
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(1) [the total amount of political contributions,
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including interest or other income, maintained in one or more
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accounts in which political contributions are deposited as of the
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last day of the reporting period;
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[(2)] for each individual from whom the person filing |
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the report has accepted political contributions that in the |
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aggregate exceed $50 and that are accepted during the reporting |
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period: |
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(A) the principal occupation and job title of the |
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individual and the full name of the employer of the individual or of |
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the law firm of which the individual or the individual's spouse is a |
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member, if any; or |
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(B) if the individual is a child, the full name of |
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the law firm of which either of the individual's parents is a |
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member, if any; |
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(2) [(3)] a specific listing of each asset valued at |
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$500 or more that was purchased with political contributions and on |
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hand as of the last day of the reporting period; |
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(3) [(4)] for each political contribution accepted by |
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the person filing the report but not received as of the last day of |
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the reporting period: |
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(A) the full name and address of the person |
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making the contribution; |
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(B) the amount of the contribution; and |
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(C) the date of the contribution; and |
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(4) [(5)] for each outstanding loan to the person |
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filing the report as of the last day of the reporting period: |
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(A) the full name and address of the person or |
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financial institution making the loan; and |
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(B) the full name and address of each guarantor |
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of the loan other than the candidate. |
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SECTION 4. The change in law made by this Act applies only |
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to a report under Chapter 254, Election Code, that is required to be |
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filed on or after the effective date of this Act. A report under |
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Chapter 254, Election Code, that is required to be filed before the |
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effective date of this Act is governed by the law in effect on the |
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date the report is required to be filed, and the former law is |
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continued in effect for that purpose. |
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SECTION 5. This Act takes effect September 1, 2011. |
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