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A BILL TO BE ENTITLED
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AN ACT
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relating to increasing the criminal penalties for insider trading |
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and other misuse of official information. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 39.06, Penal Code, is amended by |
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amending Subsection (e) and adding Subsection (g) to read as |
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follows: |
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(e) Except as provided by Subsection (g) [(f)], an offense |
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under this section is a felony of the third degree. |
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(g) If the commission of an offense under this section |
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results in a net pecuniary gain to the person committing the |
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offense, the offense is: |
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(1) a felony of the third degree if the net pecuniary |
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gain is less than $150,000; |
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(2) a felony of the second degree if the net pecuniary |
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gain is $150,000 or more but less than $300,000; or |
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(3) a felony of the first degree if the net pecuniary |
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gain is $300,000 or more. |
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SECTION 2. Section 39.06(f), Penal Code, is repealed. |
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SECTION 3. (a) The changes in law made by this Act apply |
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only to an offense committed on or after the effective date of this |
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Act. For purposes of this section, an offense is committed before |
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the effective date of this Act if any element of the offense occurs |
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before the effective date. |
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(b) An offense committed before the effective date of this |
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Act is covered by the law in effect when the offense was committed, |
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and the former law is continued in effect for that purpose. |
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SECTION 4. This Act takes effect September 1, 2023. |