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New Disclosure Law (H.B. 1295) Not Applicable to the TASB Risk Management Fund

February 29, 2016 Paul Taylor

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During the 84th Texas Legislative Session, lawmakers passed a bill requiring certain parties to provide disclosure before contracting with Texas public entities.

Specifically, for contracts entered into on or after January 1, 2016, Texas Government Code Chapter §2252.908 (H.B. 1295) provides that a Texas governmental entity or state agency may not enter into a contract that either (1) requires an action or vote by the governing body of the entity or agency or (2) has a value of at least $1 million, unless the business entity submits a disclosure of interested parties to the governmental entity or state agency.

The Texas Ethics Commission (Commission) has adopted a certificate of interested parties form (Form 1295) and adopted rules requiring the business entity to file Form 1295 electronically with the Commission.

Information from the Commission regarding the requirements, including rules and filing information, are available on the Commission’s website at the following links:

https://www.ethics.state.tx.us/tec/1295-Info.htm 
https://www.ethics.state.tx.us/whatsnew/FAQ_Form1295.html 
https://www.ethics.state.tx.us/whatsnew/elf_info_form1295.htm

The TASB Risk Management Fund (Fund) is a collective of local governmental entities that have jointly agreed to perform a governmental function or service. The Fund is not a business entity under this law and is not subject to these disclosure of interested party requirements. (Sec. 1 Tex. Admin. Code 46.3(b).) 

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