By: Parker H.B. No. 4131       A BILL TO BE ENTITLED   AN ACT   relating to the self-directed and semi-independent status of the   State Securities Board; authorizing fees.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 472.001, Government Code, is amended to   read as follows:          Sec. 472.001.  APPLICABILITY OF CHAPTER.  This chapter   applies to:                (1)  the Texas State Board of Public Accountancy;                (2)  the Texas Board of Professional Engineers; [and]                (3)  the Texas Board of Architectural Examiners; and                (4)  the State Securities Board.          SECTION 2.  The Securities Act (Article 581-1 et seq.,   Vernon's Texas Civil Statutes) is amended by adding Sections 44,   45, 46, and 47 to read as follows:          Sec. 44.  SELF-DIRECTED AND SEMI-INDEPENDENT STATUS.  The   State Securities Board has self-directed and semi-independent   status as provided under Chapter 472, Government Code.          Sec. 45.  REPORT TO BOARD.  Periodically, the Commissioner   shall submit to the members of the Board, as directed by the Board   members, a report of the receipts and expenditures of the agency.          Sec. 46.  REFUND OF REGISTRATION FEE. If the Commissioner or   Board determines that all or part of a registration fee should be   refunded, the refund shall be made by warrant on the state treasury   from the fund into which the registration fee was deposited.          Sec. 47.  REPRESENTATION BY ATTORNEY GENERAL. The attorney   general may assess and collect from the Commissioner or the Board   reasonable attorney's fees associated with any legal   representation requested by the Commissioner and provided by the   attorney general.  Notwithstanding any other law, a requirement   that the attorney general represent an agency in any litigation   does not apply to a proceeding under this Act that is governed by   Chapter 2001, Government Code.          SECTION 3.  Subsections D, G, and K, Section 2, The   Securities Act (Article 581-2, Vernon's Texas Civil Statutes), are   amended to read as follows:          D.  Each member of the Board is entitled to reimbursement for   travel expenses incurred [per diem as set by legislative   appropriation] for each day that the member engages in the business   of the Board.          The Governor shall designate a member of the Board as the   presiding officer of the Board to serve in that capacity at the will   of the Governor.  A majority of the members shall constitute a   quorum for the transaction of any business.          G.  The Board shall appoint a Securities Commissioner who   serves at the pleasure of the Board and who shall, under the   supervision of the Board, administer the provisions of this Act.     The Board shall determine the Commissioner's salary.  Each member   of the Board shall have access to all offices and records under his   supervision, and the Board, or a majority thereof, may exercise any   power or perform any act authorized to the [Securities]   Commissioner by the provisions of this Act.          K.  The Commissioner shall determine the number of Board   employees and the employees' salaries.  The Commissioner or his   designee shall develop an intraagency career ladder program, one   part of which shall be the intraagency posting of all nonentry level   positions for at least ten (10) days before any public posting.  The   Commissioner or his designee shall develop a system of annual   performance evaluations based on measurable job tasks.  All merit   pay for Board employees must be based on the system established   under this section.          SECTION 4.  Subsection C, Section 2-3, The Securities Act   (Article 581-2-3, Vernon's Texas Civil Statutes), is amended to   read as follows:          C.  A person appointed to the Board is entitled to   reimbursement[, as provided by the General Appropriations Act,] for   the travel expenses incurred in attending the training program   regardless of whether the attendance at the program occurs before   or after the person qualifies for office.          SECTION 5.  Subsections A and D, Section 35, The Securities   Act (Article 581-35, Vernon's Texas Civil Statutes), are amended to   read as follows:          A.  The Board shall establish the following fees to produce   [in amounts so that the aggregate amount that exceeds the amount of   the fees on September 1, 2002, produces] sufficient revenue to   cover the costs of administering and enforcing this Act:                (1)  for the filing of any original, amended, or   renewal application to sell or dispose of securities[, an amount   not to exceed $100];                (2)  for the filing of any original application of a   dealer or investment adviser or for the submission of a notice   filing for a federal covered investment adviser[, an amount not to   exceed $100];                (3)  for the filing of any renewal application of a   dealer or investment adviser or for the submission of a renewal   notice filing for a federal covered investment adviser[, an amount   not to exceed $100];                (4)  for the filing of any original application for   each agent, officer, or investment adviser representative or for   the submission of a notice filing for each representative of a   federal covered investment adviser[, an amount not to exceed $100];   and                (5)  for the filing of any renewal application for each   agent, officer, or investment adviser representative or for the   submission of a renewal notice filing for each representative of a   federal covered investment adviser[, an amount not to exceed $100].          D.  A cost incurred by the Board in administering or   enforcing this Act may be paid only from a fee collected under   Subsection A of this section.          SECTION 6.  The following provisions of The Securities Act   (Article 581-l et seq., Vernon's Texas Civil Statutes) are   repealed:                (1)  Subsections J, M, and N, Section 2;                (2)  Subsection C, Section 35; and                (3)  Section 36.          SECTION 7.  Subject to Chapter 472, Government Code, the   appropriations made by an Act of the 87th Legislature, Regular   Session, 2021, may be spent by the State Securities Board as the   Securities Commissioner directs.  The board shall repay to the   general revenue fund the appropriation made to the agency for the   state fiscal year ending August 31, 2022, not later than that date   and as funds become available.  The board shall repay to the general   revenue fund the appropriation made to the board for the state   fiscal year ending August 31, 2023, not later than that date and as   funds become available.          SECTION 8.  The transfer of the State Securities Board to   self-directed and semi-independent status under this Act, and the   expiration of self-directed and semi-independent status may not act   to cancel, suspend, or prevent:                (1)  any debt owed to or by the State Securities Board;                (2)  any fine, tax, penalty, or obligation of any   party;                (3)  any contract or other obligation of any party; or                (4)  any action taken by the State Securities Board,   the Securities Commissioner, or the board's employees in the   administration or enforcement of the agency's duties.          SECTION 9.  The State Securities Board shall continue to   have and exercise the powers and duties allocated to the board in   the board's enabling legislation, except as specifically amended by   this Act.          SECTION 10.  Title to or ownership of all supplies,   materials, records, equipment, books, papers, and furniture used by   the State Securities Board is transferred to the State Securities   Board in fee simple.  This Act does not affect any property owned by   the State Securities Board on or before the effective date of this   Act.          SECTION 11.  Beginning September 1, 2021, the State   Securities Board shall pay rent to this state in a reasonable amount   to be determined by the Texas Facilities Commission for its use and   occupancy of state-owned office space.          SECTION 12.  This Act takes effect September 1, 2021.