88R13029 CJD-D
 
  By: Johnson of Dallas H.B. No. 4053
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the contents of the personal financial statement filed
  by public officers and candidates.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 572.022(c), Government Code, is amended
  to read as follows:
         (c)  The individual filing the statement shall report a
  description of real property by reporting:
               (1)  the street address, if available, or the number of
  lots or number of acres, as applicable, in each county, and the name
  of the county, if the street address is not available; and
               (2)  the names of all persons retaining an interest in
  the property, excluding:
                     (A)  an interest that is a severed mineral
  interest; and
                     (B)  the name of a person with an interest in the
  property that holds a mortgage on the property that is otherwise
  required to be reported in the statement.
         SECTION 2.  Section 572.023, Government Code, is amended by
  amending Subsection (b) and adding Subsections (h), (i), and (j) to
  read as follows:
         (b)  The account of financial activity consists of:
               (1)  a list of all sources of occupational income,
  identified by employer, or if self-employed, by the nature of the
  occupation, including identification of a person or other
  organization from which the individual or a business in which the
  individual has a substantial interest received a fee as a retainer
  for a claim on future services in case of need, as distinguished
  from a fee for services on a matter specified at the time of
  contracting for or receiving the fee, if professional or
  occupational services are not actually performed during the
  reporting period equal to or in excess of the amount of the
  retainer[, and the category of the amount of the fee];
               (2)  identification by name [and the category of the
  number of shares of stock] of any business entity held or acquired,
  except as provided by Subsection (j)[, and if sold, the category of
  the amount of net gain or loss realized from the sale];
               (3)  a list of all bonds, notes, and other commercial
  paper held or acquired, except as provided by Subsection (j)[, and
  if sold, the category of the amount of net gain or loss realized
  from the sale];
               (4)  identification of each source [and the category of
  the amount] of income in excess of $500 derived from each source
  from interest, dividends, royalties, and rents;
               (5)  identification of each guarantor of a loan and
  identification of each person or financial institution to whom a
  personal note or notes or lease agreement for a total financial
  liability in excess of $1,000 existed at any time during the year
  [and the category of the amount of the liability];
               (6)  identification by description of all beneficial
  interests in real property and business entities held or acquired[,
  and if sold, the category of the amount of the net gain or loss
  realized from the sale];
               (7)  identification of a person or other organization
  from which the individual or the individual's spouse or dependent
  children received a gift of anything of value in excess of $250 and
  a description of each gift, except:
                     (A)  a gift received from an individual related to
  the individual at any time within the second degree by
  consanguinity or affinity, as determined under Subchapter B,
  Chapter 573;
                     (B)  a political contribution that was reported as
  required by Chapter 254, Election Code; and
                     (C)  an expenditure required to be reported by a
  person required to be registered under Chapter 305;
               (8)  identification of the source [and the category of
  the amount] of all income received as beneficiary of a trust, other
  than a blind trust that complies with Subsection (c), and
  identification of each trust asset, if known to the beneficiary,
  from which income was received by the beneficiary in excess of $500;
               (9)  identification[:
                     [(A)  by description of a corporation, firm,
  partnership, limited partnership, limited liability partnership,
  professional corporation, professional association, joint venture,
  or other business association in which five percent or more of the
  outstanding ownership was held, acquired, or sold; and
                     [(B)]  by description [and the category of the
  amount] of all assets and liabilities of a corporation, firm,
  partnership, limited partnership, limited liability partnership,
  professional corporation, professional association, joint venture,
  or other business association in which 50 percent or more of the
  outstanding ownership was held, acquired, or sold;
               (10)  a list of all boards of directors of which the
  individual is a member and from which the individual receives
  compensation and executive positions, only if the executive
  position held is president, vice president, secretary, treasurer,
  or chairman, that the individual holds in corporations, firms,
  partnerships, limited partnerships, limited liability
  partnerships, professional corporations, professional
  associations, joint ventures, or other business associations or
  proprietorships, stating the name of each corporation, firm,
  partnership, limited partnership, limited liability partnership,
  professional corporation, professional association, joint venture,
  or other business association or proprietorship and the position
  held;
               (11)  identification of any person providing
  transportation, meals, or lodging expenses permitted under Section
  36.07(b), Penal Code, and the amount of those expenses, other than
  expenditures required to be reported under Chapter 305;
               (12)  any corporation, firm, partnership, limited
  partnership, limited liability partnership, professional
  corporation, professional association, joint venture, or other
  business association, excluding a publicly held corporation, in
  which both the individual and a person registered under Chapter 305
  have an interest;
               (13)  identification by name [and the category of the
  number of shares] of any mutual fund held or acquired, except as
  provided by Subsection (j)[, and if sold, the category of the amount
  of net gain or loss realized from the sale];
               (14)  identification of each blind trust that complies
  with Subsection (c), including:
                     (A)  [the category of the fair market value of the
  trust;
                     [(B)]  the date the trust was created;
                     (B) [(C)]  the name and address of the trustee;
  and
                     (C) [(D)]  a statement signed by the trustee,
  under penalty of perjury, stating that:
                           (i)  the trustee has not revealed any
  information to the individual, except information that may be
  disclosed under Subdivision (8); and
                           (ii)  to the best of the trustee's knowledge,
  the trust complies with this section;
               (15)  if the aggregate cost of goods or services sold
  under one or more written contracts described by this subdivision
  exceeds $10,000 in the year covered by the report, identification
  of each written contract, including the name of each party to the
  contract:
                     (A)  for the sale of goods or services in the
  amount of $2,500 or more;
                     (B)  to which the individual, the individual's
  spouse, the individual's dependent child, or any business entity of
  which the individual, the individual's spouse, or the individual's
  dependent child, independently or in conjunction with one or more
  persons described by this subsection, has at least a 50 percent
  ownership interest is a party; and
                     (C)  with:
                           (i)  a governmental entity; or
                           (ii)  a person who contracts with a
  governmental entity, if the individual or entity described by
  Paragraph (B) performs work arising out of the contract,
  subcontract, or agreement between the person and the governmental
  entity for a fee; and
               (16)  if the individual is a member of the legislature
  and provides bond counsel services to an issuer, as defined by
  Section 1201.002(1), identification of the following for each
  issuance for which the individual served as bond counsel:
                     (A)  the amount of the issuance; and
                     (B)  the name of the issuer[;
                     [(C)  the date of the issuance;
                     [(D)  the amount of fees paid to the individual,
  and whether the amount is:
                           [(i)  less than $5,000;
                           [(ii)  at least $5,000 but less than
  $10,000;
                           [(iii)  at least $10,000 but less than
  $25,000; or
                           [(iv)  $25,000 or more; and
                     [(E)  the amount of fees paid to the individual's
  firm, if applicable, and whether the amount is:
                           [(i)  less than $5,000;
                           [(ii)  at least $5,000 but less than
  $10,000;
                           [(iii)  at least $10,000 but less than
  $25,000; or
                           [(iv)  $25,000 or more].
         (h)  For purposes of Subsection (b)(9):
               (1)  "Asset" means a separate business entity, cash, or
  real and personal property.
               (2)  "Liability" means a note, line of credit, lien, or
  corporate lease.
         (i)  In prescribing the form and reporting requirements for a
  financial statement filed under this chapter, the commission shall
  ensure redundancies in reporting are reduced by combining, as
  appropriate, reporting categories and limiting the need to report
  information multiple times.
         (j)  For purposes of Subsections (b)(2), (3), and (13), an
  individual whose financial activity described by those
  subdivisions is managed by a disinterested third party is not
  required to report that information if the individual submits with
  the financial statement a sworn statement that:
               (1)  includes the name and address of the third party;
  and
               (2)  is signed by the third party under penalty of
  perjury affirming that the third party manages the relevant assets
  without the individual's input as to holding or acquiring specific
  assets.
         SECTION 3.  Section 572.024, Government Code, is amended to
  read as follows:
         Sec. 572.024.  INFORMATION ABOUT SERVICES FOR LOBBYISTS OR
  LOBBYIST EMPLOYERS. A state officer who receives a fee for services
  rendered by the officer to or on behalf of a person required to be
  registered under Chapter 305, or to or on behalf of a person or
  entity that the officer actually knows directly compensates or
  reimburses a person required to be registered under Chapter 305,
  shall report on the financial statement the name of each person or
  entity for which the services were rendered [and the category of the
  amount of each fee].
         SECTION 4.  Section 572.025, Government Code, is amended to
  read as follows:
         Sec. 572.025.  INFORMATION ABOUT LEGISLATORS'
  REPRESENTATION BEFORE EXECUTIVE STATE AGENCIES. A member of the
  legislature who represents another person for compensation before
  an executive state agency shall report on the financial statement:
               (1)  the name of the agency; and
               (2)  the person represented by the member[; and
               [(3)  the category of the amount of compensation
  received by the member for that representation].
         SECTION 5.  Section 572.022(b), Government Code, is
  repealed.
         SECTION 6.  The changes in law made by this Act apply only to
  a financial statement filed under Subchapter B, Chapter 572,
  Government Code, on or after the effective date of this Act. A
  financial statement filed before the effective date of this Act is
  governed by the law in effect on the date of filing, and the former
  law is continued in effect for that purpose.
         SECTION 7.  This Act takes effect September 1, 2023.