| TO: | Honorable Robert Duncan, Chair, Senate Committee on State Affairs |
| FROM: | John S O'Brien, Director, Legislative Budget Board |
| IN RE: | SB1445 by Zaffirini (Relating to the contents of reports of political contributions and expenditures.), As Introduced |
The bill would amend Section 254.0319(a) of the Election Code relating to the contents of reports of political contributions and expenditures. Specifically, the bill would require: (a) the reporting of political contributions that are held with the intention of being deposited, (b) the purchase price of an investment purchased with political contributions, and (c) a statement of whether a sale was made, and the amount of any proceeds received, of an investment purchased with a political contribution. The bill would also amend Section 254.0611(a) of the Election Code by eliminating the requirement that a report filed by a candidate for a judicial office include the total amount of political contributions maintained in one or more accounts in which political contributions are deposited.
It is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources.
The bill would take effect September 1, 2011.
| Source Agencies: | 356 Texas Ethics Commission
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| LBB Staff: | JOB, KJG, MS, DEH
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