TX SB461

Expands the definition of "agent" to explicitly include subcontractors in addition to employees for purposes of local government conflict of interest disclosures

Broadens the definition of "business relationship" by removing exemptions for transactions subject to government rate regulation, transactions at publicly available prices/terms, and purchases from state or federally chartered entities subject to regular examination

Extends the definition of "family member" from first degree consanguinity to third degree consanguinity and from first degree affinity to second degree affinity, significantly expanding which relatives' relationships must be disclosed

Adds trusts as a source of "investment income" alongside checking/savings accounts, investments, and loans for disclosure purposes

Applies to disclosure events occurring on or after January 1, 2026, with immediate effect if passed by two-thirds vote or September 1, 2025 otherwise