PART 2. TEXAS ETHICS COMMISSION
CHAPTER 20. REPORTING POLITICAL CONTRIBUTIONS AND EXPENDITURES
SUBCHAPTER B. GENERAL REPORTING RULES
The Texas Ethics Commission adopts new §20.50, relating to the reporting of the total amount of political contributions maintained. The new rule is adopted without changes to the proposed text as published in the April 25, 2008, issue of the Texas Register (33 TexReg 3361) and will not be republished.
A campaign finance report is required to disclose the total amount of political contributions maintained as of the last day of the reporting period. Section 20.50 would clarify the statutory provisions requiring the disclosure of the total amount of political contributions maintained in one or more accounts as of the last day of the reporting period. Under §20.50, certain investments would be required to be included.
Written comments were received from Michael Toomey, Attorney at Law. Mr. Toomey opposes the rule stating that it "imposes additional burdens inconsistent with the Ethics Commission's statutory authority." Mr. Toomey also states that the rule would require that investments be disclosed that may not be maintained in an account. Mr. Toomey further states that the Ethics Commission should submit "the policy change to the legislature for its consideration."
Written comments were received from Sean Patrick Tracey with the Tracey Law Firm. Mr. Tracey opposes the rule and states that it "impermissibly imposes additional burdens over and above the Ethics Commission's statutory authority."
The Ethics Commission considers comments from all parties but was satisfied with the rule as proposed. No change was made as a result of these comments.
The new §20.50 is adopted under Government Code, Chapter 571, §571.062, which authorizes the commission to adopt rules concerning the laws administered and enforced by the commission.
This agency hereby certifies that the adoption has been reviewed by legal counsel and found to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on June 11, 2008.
TRD-200803032
Natalia Luna Ashley
General Counsel
Texas Ethics Commission
Effective date: July 1, 2008
Proposal publication date: April 25, 2008
For further information, please call: (512) 463-5800