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A BILL TO BE ENTITLED
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AN ACT
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relating to the reporting of direct campaign expenditures by |
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certain persons and political committees. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. This Act may be cited as the P.A.C. Transparency |
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and Accountability Act. |
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SECTION 2. Section 254.031(a), Election Code, is amended to |
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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, other than |
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political contributions described by Subdivision (1-a), 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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(1-a) the amount of political contributions from each |
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person that are made electronically 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 $100 and that are made during the reporting |
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period, the full name and address of the persons to whom the |
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expenditures are made, and the dates and purposes of the |
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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 $100 |
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or 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 for |
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whom [who benefits from] a direct campaign expenditure was made to |
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support or oppose during the reporting period by the person or |
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committee required to file the report, and the office sought or |
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held, excluding a direct campaign expenditure that is made by the |
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principal political committee of a political party on behalf of a |
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slate of two or more nominees of that party; |
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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, maintained in one or more accounts |
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in which political contributions are deposited as of the last day of |
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the reporting period; |
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(9) any credit, interest, rebate, refund, |
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reimbursement, or return of a deposit fee resulting from the use of |
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a political contribution or an asset purchased with a political |
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contribution that is received during the reporting period and the |
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amount of which exceeds $100; |
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(10) any proceeds of the sale of an asset purchased |
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with a political contribution that is received during the reporting |
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period and the amount of which exceeds $100; |
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(11) any investment purchased with a political |
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contribution that is received during the reporting period and the |
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amount of which exceeds $100; |
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(12) any other gain from a political contribution that |
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is received during the reporting period and the amount of which |
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exceeds $100; and |
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(13) the full name and address of each person from whom |
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an amount described by Subdivision (9), (10), (11), or (12) is |
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received, the date the amount is received, and the purpose for which |
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the amount is received. |
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SECTION 3. The changes in law made by this Act apply only to |
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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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that chapter that is required to be filed before the effective date |
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of this Act is governed by the law in effect on the date the report |
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is required to be filed, and the former law is continued in effect |
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for that purpose. |
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SECTION 4. This Act takes effect on the 91st day after the |
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last day of the legislative session. |