Texas SB461 amends the Local Government Code to redefine key terms and establish new disclosure requirements for relationships between local.

Texas SB461 amends the Local Government Code to redefine terms such as "agent," "business relationship," "family member," and "investment income." It specifies that "agent" includes a third party managing business affairs for another person, "business relationship" excludes certain regulated transactions, "family member" includes relatives within the third degree by consanguinity or the second degree by affinity, and "investment income" includes dividends, capital gains, and interest from various financial accounts and investments.

Texas SB461 amends the Local Government Code to redefine key terms and establish new disclosure requirements for relationships between local.

Texas SB461 amends the Local Government Code to redefine terms such as "agent," "business relationship," "family member," and "investment income." It specifies that "agent" includes a third party managing business affairs for another person, "business relationship" excludes certain regulated transactions, "family member" includes relatives within the third degree by consanguinity or the second degree by affinity, and "investment income" includes dividends, capital gains, and interest from various financial accounts and investments.