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A BILL TO BE ENTITLED
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AN ACT
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relating to the disclosure on personal financial statements of |
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certain contracts or subcontracts with governmental entities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 572.023, Government Code, is amended by |
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amending Subsection (b) and adding Subsection (e) to read as |
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follows: |
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(b) The account of financial activity consists of: |
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(1) a list of all sources of occupational income, |
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identified by employer, or if self-employed, by the nature of the |
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occupation, including identification of a person or other |
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organization from which the individual or a business in which the |
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individual has a substantial interest received a fee as a retainer |
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for a claim on future services in case of need, as distinguished |
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from a fee for services on a matter specified at the time of |
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contracting for or receiving the fee, if professional or |
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occupational services are not actually performed during the |
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reporting period equal to or in excess of the amount of the |
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retainer, and the category of the amount of the fee; |
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(2) identification by name and the category of the |
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number of shares of stock of any business entity held or acquired, |
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and if sold, the category of the amount of net gain or loss realized |
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from the sale; |
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(3) a list of all bonds, notes, and other commercial |
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paper held or acquired, and if sold, the category of the amount of |
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net gain or loss realized from the sale; |
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(4) identification of each source and the category of |
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the amount of income in excess of $500 derived from each source from |
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interest, dividends, royalties, and rents; |
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(5) identification of each guarantor of a loan and |
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identification of each person or financial institution to whom a |
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personal note or notes or lease agreement for a total financial |
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liability in excess of $1,000 existed at any time during the year |
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and the category of the amount of the liability; |
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(6) identification by description of all beneficial |
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interests in real property and business entities held or acquired, |
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and if sold, the category of the amount of the net gain or loss |
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realized from the sale; |
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(7) identification of a person or other organization |
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from which the individual or the individual's spouse or dependent |
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children received a gift of anything of value in excess of $250 and |
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a description of each gift, except: |
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(A) a gift received from an individual related to |
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the individual at any time within the second degree by |
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consanguinity or affinity, as determined under Subchapter B, |
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Chapter 573; |
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(B) a political contribution that was reported as |
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required by Chapter 254, Election Code; and |
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(C) an expenditure required to be reported by a |
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person required to be registered under Chapter 305; |
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(8) identification of the source and the category of |
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the amount of all income received as beneficiary of a trust, other |
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than a blind trust that complies with Subsection (c), and |
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identification of each trust asset, if known to the beneficiary, |
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from which income was received by the beneficiary in excess of $500; |
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(9) identification by description and the category of |
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the amount of all assets and liabilities of a corporation, firm, |
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partnership, limited partnership, limited liability partnership, |
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professional corporation, professional association, joint venture, |
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or other business association in which 50 percent or more of the |
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outstanding ownership was held, acquired, or sold; |
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(10) a list of all boards of directors of which the |
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individual is a member and executive positions that the individual |
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holds in corporations, firms, partnerships, limited partnerships, |
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limited liability partnerships, professional corporations, |
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professional associations, joint ventures, or other business |
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associations or proprietorships, stating the name of each |
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corporation, firm, partnership, limited partnership, limited |
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liability partnership, professional corporation, professional |
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association, joint venture, or other business association or |
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proprietorship and the position held; |
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(11) identification of any person providing |
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transportation, meals, or lodging expenses permitted under Section |
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36.07(b), Penal Code, and the amount of those expenses, other than |
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expenditures required to be reported under Chapter 305; |
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(12) any corporation, firm, partnership, limited |
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partnership, limited liability partnership, professional |
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corporation, professional association, joint venture, or other |
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business association, excluding a publicly held corporation, in |
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which both the individual and a person registered under Chapter 305 |
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have an interest; |
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(13) identification by name and the category of the |
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number of shares of any mutual fund held or acquired, and if sold, |
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the category of the amount of net gain or loss realized from the |
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sale; [and] |
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(14) identification of each blind trust that complies |
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with Subsection (c), including: |
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(A) the category of the fair market value of the |
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trust; |
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(B) the date the trust was created; |
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(C) the name and address of the trustee; and |
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(D) a statement signed by the trustee, under |
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penalty of perjury, stating that: |
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(i) the trustee has not revealed any |
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information to the individual, except information that may be |
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disclosed under Subdivision (8); and |
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(ii) to the best of the trustee's knowledge, |
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the trust complies with this section; and |
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(15) if the aggregate cost of goods or services sold |
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under one or more written contracts described by this subdivision |
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exceeds $10,000 in the year covered by the report, identification |
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of each written contract, including the name of each party to the |
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contract: |
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(A) for the sale of goods or services in the |
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amount of $2,500 or more; |
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(B) to which the individual, the individual's |
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spouse, the individual's dependent child, or any business entity of |
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which the individual, the individual's spouse, or the individual's |
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dependent child has at least a 50 percent ownership interest is a |
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party; and |
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(C) with: |
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(i) a governmental entity; or |
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(ii) a person who contracts with a |
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governmental entity, to fulfill one or more of the person's |
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obligations to the governmental entity under that contract. |
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(e) In this section, "governmental entity" means the state, |
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a political subdivision of the state, or an agency or department of |
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the state or a political subdivision of the state. |
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SECTION 2. The change in law made by this Act applies only |
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to a financial statement filed under Subchapter B, Chapter 572, |
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Government Code, as amended by this Act, on or after January 1, |
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2017. A financial statement filed before January 1, 2017, is |
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governed by the law in effect on the date of filing, and the former |
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law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |