Information about a title-holding entity formed under Section 825.3013 is confidential and generally not subject to disclosure, with listed information treated as public.
Sec. 825.3014. CONFIDENTIALITY OF RECORDS RELATED TO TITLE-HOLDING ENTITIES. (a) Notwithstanding any other law other than this section, information that relates to a title-holding entity formed under Section 825.3013 is confidential and excepted from disclosure under Section 552.021, including information relating to: (1) a pre-due diligence or post-due diligence review, audit, or investigation; (2) the formation of a title-holding entity under Section 825.3013; or (3) a potential purchase of real property by a title-holding entity, regardless of whether the purchase is completed. (b) The following information as it relates to a title-holding entity formed under Section 825.3013 is public information under Chapter 552: (1) the title-holding entity's certificate of formation or comparable instrument; (2) the date or dates on which the title-holding entity purchased or sold an ownership interest in real property; (3) information relating to the title-holding entity's qualification for the federal income tax exemption required under Section 825.3013(a)(2); (4) the name and location, including the physical address, city, state, and country, of any real property in which the title-holding entity has an ownership interest; (5) as shown in the meeting minutes of the board of trustees, each recusal by a member of the board in connection with a deliberation or action relating to the title-holding entity, any real property in which the entity has an ownership interest, or a lease or contract with the title-holding entity; (6) the name of each business entity or employer owned wholly or partly by the relative of a member of the board of trustees or a retirement system employee, within the second degree of consanguinity or affinity under Chapter 573, that is a prospective party to a transaction or contract with the title-holding entity, including a contract that is: (A) a real property purchase and sale agreement; (B) for goods or services; or (C) a lease agreement, including a ground lease agreement; (7) the name of the business entity or employer described by Subdivision (6) as stated in the business entity's or employer's certificate of formation or comparable instrument; (8) copies of income tax returns filed by the title-holding entity, except information in the returns relating to indebtedness, tax basis, and gains or losses realized on the sale or other disposition of real property by the title-holding entity; (9) if the system or a state agency is a tenant of real property owned by the title-holding entity: (A) the name of that tenant; (B) the name and address of the property; and (C) the financial returns to the system from investing in the property; and (10) if applicable, the name of any joint owner of real property a title-holding entity has an ownership interest in and the percentage of the property owned by a joint owner. (c) This section applies to information regardless of whether the title-holding entity disposes of the entity's interest in real property or an asset if the information is inextricably intertwined with another interest in real property or other assets owned by the title-holding entity. (d) This section does not prohibit the retirement system or any person from asserting that any information described by this section is confidential or exempt from disclosure under Section 552.021 or other law. Notwithstanding any other law, if the retirement system discloses information described by Subsection (a) to a person, the disclosure does not: (1) waive or affect the confidentiality of information relating to any other title-holding entity; or (2) waive the retirement system's right to assert exceptions to disclosure of the information in the future. Added by Acts 2023, 88th Leg., R.S., Ch. 1093 (S.B. 1246), Sec. 6, eff. June 18, 2023.