TITLE: Relating to contribution and expenditure statements filed by the inaugural committee with the Texas Ethics Commission.

SUMMARY: Relating to contribution and expenditure statements filed by the inaugural committee with the Texas Ethics Commission.

FULL TEXT:
AN ACT relating to contribution and expenditure statements filed by the inaugural committee with the Texas Ethics Commission. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter A, Chapter 401, Government Code, is amended by adding Section 401.0075 to read as follows: Sec. 401.0075. REQUIRED CONTRIBUTION AND EXPENDITURE STATEMENTS. (a) The committee shall file contribution and expenditure statements with the Texas Ethics Commission on: (1) the fifth day after the date that members of the committee are appointed; (2) the day before the first day of the regular session of the legislature that occurs in the year of the inauguration; and (3) the day that the committee files the final report required by Section 401.008. (b) A statement required by Subsection (a) must list the following information: (1) each unreported contribution of money, services, or other things of value to the committee, the name and address of the contributor, and the date and amount of the contribution; (2) each unreported loan made to the committee, including a loan listed in a previous filing that has not been paid or that was paid after the previous filing, the complete name and address of the lender and each person other than the committee who is responsible on the note, the date and amount of the note, the intended source of funds to repay the note, and any payments already made on the note and the source of the payments; and (3) each unreported expenditure of the committee, the complete name and address of each person to whom a payment of more than $10 was made, and the purpose of each expenditure. (c) Each statement filed under this section is public information and shall be preserved until the second anniversary of the date the statement was filed. Unless a court orders further preservation, a statement may be destroyed after the two-year period. SECTION 2. This Act takes effect September 1, 2021.