Honorable Joan Huffman, Chair, Senate Committee on State Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1090 by Meyer (Relating to the criminal penalties for insider trading and other misuse of official information by public servants.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend the Penal Code as it relates to the criminal penalties for insider trading and other misuse of official information by public servants. Under the provisions of the bill, the punishment for the offense of misuse of official information would increase in certain circumstances. The punishment for this offense would range from a third degree to a first degree felony with the punishment level increasing in severity based on the net pecuniary gain to the person committing the offense.
The Office of Court Administration indicates it does not anticipate a significant fiscal impact. This analysis assumes the provisions of the bill addressing felony sanctions would not result in a significant impact on the demand for state correctional resources.
The bill would take effect September 1, 2017 and apply only to an offense committed on or after the effective date of the Act.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
The bill removes a Class C misdemeanor for certain offenses related to the misuse of public information by public servants from existing statute.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 696 Department of Criminal Justice