SB 150 Limits investment firm and law firm support in bond elections

Sponsor: Mayer LR Number: 0539S.03P Fiscal Note: 0539-03 Committee: Financial & Governmental Organizations and Elections Last Action: 4/12/2007 - Referred H Judiciary Committee Journal Page: H1084 Title: SCS SB 150 Calendar Position: Effective Date: August 28, 2007

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Current Bill Summary

SCS/SB 150 - Currently, investment firms, law firms offering bond counsel services, or persons having interest in such firms are barred from being involved in the issuance of bonds authorized by an election in which the firm or person made any contribution in support of the bond election.

This act narrows the restriction to include only direct or indirect financial contributions. Such contributions do not include:

• Providing factual information relating to the bond issuance.

• Responding to questions and making presentations at public forums relating to the bond issuance

• Participating in any meeting subject to the open meetings law.

This act is similar to SB 1035 (2006).

CHRIS HOGERTY