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A BILL TO BE ENTITLED
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AN ACT
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relating to civil penalties imposed for violations of the Texas |
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Free Enterprise and Antitrust Act of 1983. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 15.20(a), Business & Commerce Code, is |
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amended to read as follows: |
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(a) Suit to Collect Civil Fine. The attorney general may |
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file suit in district court in Travis County or in any county in the |
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State of Texas in which any of the named defendants resides, does |
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business, or maintains its principal office on behalf of the State |
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of Texas to collect a civil fine from any person, other than a |
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municipal corporation, whom the attorney general believes has |
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violated any of the prohibitions in Subsection (a), (b), or (c) of |
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Section 15.05 of this Act. An individual or other [Every] person |
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adjudged to have violated any of these prohibitions shall pay a fine |
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to the state in an amount not to exceed: |
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(1) if an individual, $300,000; or |
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(2) if any other person: |
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(A) $3 million, if the lesser of the person's |
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assets or market capitalization is less than $100 million; |
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(B) $20 million, if the lesser of the person's |
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assets or market capitalization is at least $100 million but less |
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than $500 million; or |
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(C) $30 million, if the lesser of the person's |
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assets or market capitalization is $500 million or more [$1 million |
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if a corporation, or, if any other person, $100,000]. |
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SECTION 2. Section 15.20(a), Business & Commerce Code, as |
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amended by this Act, applies only to a suit filed on or after the |
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effective date of this Act. A suit filed before the effective date |
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of this Act is governed by the law in effect on the date the suit was |
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filed, and the former law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2023. |