bill requiring copies of campaign loan agreements

The text as introduced · 824 words

89R16100 MZM-D

By: Talarico
H.B. No. 5313

A BILL TO BE ENTITLED

AN ACT

relating to the reporting of loan agreements made for campaign or

officeholder purposes by a person or political committee.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 254.031(a), Election Code, is amended to

read as follows:

(a) Except as otherwise provided by this chapter, each

report filed under this chapter must include:

(1) the amount of political contributions, other than

political contributions described by Subdivision (1-a), from each

person that in the aggregate exceed $50 and that are accepted during

the reporting period by the person or committee required to file a

report under this chapter, the full name and address of the person

making the contributions, and the dates of the contributions;

(1-a) the amount of political contributions from each

person that are made electronically and that are accepted during

the reporting period by the person or committee required to file a

report under this chapter, the full name and address of the person

making the contributions, and the dates of the contributions;

(2) the amount of loans that are made during the

reporting period for campaign or officeholder purposes to the

person or committee required to file the report and that in the

aggregate exceed $50, the dates the loans are made, the interest

rate, the maturity date, the type of collateral for the loans, if

any, the full name and address of the person or financial

institution making the loans, the full name and address, principal

occupation, and name of the employer of each guarantor of the loans,

the amount of the loans guaranteed by each guarantor, and the

aggregate principal amount of all outstanding loans as of the last

day of the reporting period;

(2-a) a copy of the agreement for each loan described

by Subdivision (2);

(3) the amount of political expenditures that in the

aggregate exceed $100 and that are made during the reporting

period, the full name and address of the persons to whom the

expenditures are made, and the dates and purposes of the

expenditures;

(4) the amount of each payment made during the

reporting period from a political contribution if the payment is

not a political expenditure, the full name and address of the person

to whom the payment is made, and the date and purpose of the

payment;

(5) the total amount or a specific listing of the

political contributions of $50 or less accepted and the total

amount or a specific listing of the political expenditures of $100

or less made during the reporting period;

(6) the total amount of all political contributions

accepted and the total amount of all political expenditures made

during the reporting period;

(7) the name of each candidate or officeholder who

benefits from a direct campaign expenditure made during the

reporting period by the person or committee required to file the

report, and the office sought or held, excluding a direct campaign

expenditure that is made by the principal political committee of a

political party on behalf of a slate of two or more nominees of that

party;

(8) as of the last day of a reporting period for which

the person is required to file a report, the total amount of

political contributions accepted, including interest or other

income on those contributions, maintained in one or more accounts

in which political contributions are deposited as of the last day of

the reporting period;

(9) any credit, interest, rebate, refund,

reimbursement, or return of a deposit fee resulting from the use of

a political contribution or an asset purchased with a political

contribution that is received during the reporting period and the

amount of which exceeds $100;

(10) any proceeds of the sale of an asset purchased

with a political contribution that is received during the reporting

period and the amount of which exceeds $100;

(11) any investment purchased with a political

contribution that is received during the reporting period and the

amount of which exceeds $100;

(12) any other gain from a political contribution that

is received during the reporting period and the amount of which

exceeds $100; and

(13) the full name and address of each person from whom

an amount described by Subdivision (9), (10), (11), or (12) is

received, the date the amount is received, and the purpose for which

the amount is received.

SECTION 2. The changes in law made by this Act apply only to

a report under Chapter 254, Election Code, that is required to be

filed on or after the effective date of this Act. A report under

that chapter that is required to be filed before the effective date

of this Act is governed by the law in effect on the date the report

is required to be filed, and the former law is continued in effect

for that purpose.

SECTION 3. This Act takes effect September 1, 2025.