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A BILL TO BE ENTITLED
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AN ACT
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relating to the contents of the personal financial statement filed |
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by public officers and candidates. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 572.022(c), Government Code, is amended |
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to read as follows: |
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(c) The individual filing the statement shall report a |
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description of real property by reporting: |
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(1) the street address, if available, or the number of |
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lots or number of acres, as applicable, in each county, and the name |
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of the county, if the street address is not available; and |
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(2) the names of all persons retaining an interest in |
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the property, excluding: |
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(A) an interest that is a severed mineral |
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interest; and |
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(B) the name of a person with an interest in the |
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property that holds a mortgage on the property that is otherwise |
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required to be reported in the statement. |
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SECTION 2. Section 572.023, Government Code, is amended by |
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amending Subsection (b) and adding Subsections (b-1), (h), (i), and |
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(j) to read as 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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value [number] of shares of stock of any business entity held or |
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acquired, except as provided by Subsection (j)[, and if sold, the |
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category of the amount of net gain or loss realized 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, except as provided by Subsection (j)[, and |
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if sold, the category of the amount of net gain or loss realized |
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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[: |
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[(A) by description 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 five percent or more of the |
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outstanding ownership was held, acquired, or sold; and |
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[(B)] by description and the category of the |
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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 from which the individual receives |
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compensation and executive positions, only if the executive |
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position held is president, vice president, secretary, treasurer, |
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or chairman, that the individual holds in corporations, firms, |
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partnerships, limited partnerships, limited liability |
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partnerships, professional corporations, professional |
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associations, joint ventures, or other business associations or |
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proprietorships, stating the name of each 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 or proprietorship and the position |
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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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value [number] of shares of any mutual fund held or acquired, except |
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as provided by Subsection (j)[, and if sold, the category of the |
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amount of net gain or loss realized from the sale]; |
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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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(B) [(C)] the name and address of the trustee; |
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and |
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(C) [(D)] a statement signed by the trustee, |
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under 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; |
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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, independently or in conjunction with one or more |
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persons described by this subsection, has at least a 50 percent |
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ownership interest is a 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, if the individual or entity described by |
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Paragraph (B) performs work arising out of the contract, |
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subcontract, or agreement between the person and the governmental |
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entity for a fee; and |
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(16) if the individual is a member of the legislature |
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and provides bond counsel services to an issuer, as defined by |
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Section 1201.002(1), identification of the following for each |
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issuance for which the individual served as bond counsel: |
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(A) the amount of the issuance; |
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(B) the name of the issuer; |
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(C) the date of the issuance; |
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(D) the amount of fees paid to the individual, |
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and whether the amount is: |
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(i) less than $5,000; |
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(ii) at least $5,000 but less than $10,000; |
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(iii) at least $10,000 but less than |
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$25,000; or |
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(iv) $25,000 or more; and |
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(E) the amount of fees paid to the individual's |
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firm, if applicable, and whether the amount is: |
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(i) less than $5,000; |
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(ii) at least $5,000 but less than $10,000; |
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(iii) at least $10,000 but less than |
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$25,000; or |
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(iv) $25,000 or more. |
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(b-1) Notwithstanding Section 572.022 and for the purpose |
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of reporting an amount in a financial statement by category under |
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Subsection (b), an individual required to file the statement shall |
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report whether the amount is: |
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(1) less than $25,000; or |
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(2) $25,000 or more. |
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(h) For purposes of Subsection (b)(9): |
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(1) "Asset" means a separate business entity, cash, or |
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real and personal property. |
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(2) "Liability" means a note, line of credit, lien, or |
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corporate lease. |
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(i) In prescribing the form and reporting requirements for a |
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financial statement filed under this chapter, the commission shall |
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ensure redundancies in reporting are reduced by combining, as |
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appropriate, reporting categories and limiting the need to report |
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information multiple times. |
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(j) For purposes of Subsections (b)(2), (3), and (13), an |
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individual whose financial activity described by those |
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subdivisions is managed by a disinterested third party is not |
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required to report that information if the individual submits with |
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the financial statement a sworn statement that: |
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(1) includes the name and address of the third party; |
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and |
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(2) is signed by the third party under penalty of |
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perjury affirming that the third party manages the relevant assets |
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without the individual's input as to holding or acquiring specific |
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assets. |
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SECTION 3. Section 572.024, Government Code, is amended to |
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read as follows: |
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Sec. 572.024. INFORMATION ABOUT SERVICES FOR LOBBYISTS OR |
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LOBBYIST EMPLOYERS. A state officer who receives a fee for services |
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rendered by the officer to or on behalf of a person required to be |
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registered under Chapter 305, or to or on behalf of a person or |
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entity that the officer actually knows directly compensates or |
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reimburses a person required to be registered under Chapter 305, |
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shall report on the financial statement: |
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(1) the name of each person or entity for which the |
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services were rendered; and |
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(2) whether the [category of the] amount of each fee |
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is: |
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(A) less than $25,000; or |
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(B) $25,000 or more. |
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SECTION 4. Section 572.025, Government Code, is amended to |
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read as follows: |
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Sec. 572.025. INFORMATION ABOUT LEGISLATORS' |
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REPRESENTATION BEFORE EXECUTIVE STATE AGENCIES. A member of the |
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legislature who represents another person for compensation before |
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an executive state agency shall report on the financial statement: |
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(1) the name of the agency; |
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(2) the person represented by the member; and |
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(3) whether the [category of the] amount of |
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compensation received by the member for that representation is: |
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(A) less than $25,000; or |
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(B) $25,000 or more. |
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SECTION 5. Section 572.022(b), Government Code, is |
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repealed. |
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SECTION 6. The changes in law made by this Act apply only to |
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a financial statement filed under Subchapter B, Chapter 572, |
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Government Code, on or after the effective date of this Act. A |
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financial statement filed before the effective date of this Act 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 7. This Act takes effect September 1, 2023. |
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* * * * * |