TX SB440

Requires the state auditor to conduct financial, effectiveness, and performance audits of self-directed and semi-independent financial regulatory agencies at least once every six years, unless the auditor can rely on an independent audit conducted during the same period

Authorizes the state auditor to conduct risk-based audits of financial regulatory agencies at any time, with agencies required to reimburse all audit costs and provide copies to the governor

Expands biennial legislative reports to include enforcement activities, descriptions of new rules adopted or repealed, and fee changes broken down by industry

Mandates detailed annual reports by November 1 to the governor, appropriations committees, and Legislative Budget Board containing five-year trend data on staffing, complaints, enforcement actions, administrative penalties, licensing statistics, litigation costs, and reserve fund balances

Requires agencies to submit two-year operating plans and budgets with breakdowns by program and administrative expenses, including projected and historical budget performance data