Ethics Explorer A Guide to the Financial Interests of Elected Officials

Sen. Troy Fraser District 24 (R-Horseshoe Bay)

Angelo State University (attended); University of Texas at Arlington (attended).
  • Natural Resources and Economic Development (Chair)
  • Nominations
  • State Affairs
  • Transportation
Financial Statements

Sources of Income

  • Fraser reports investment income from 116 entities, both public and private. He reported income in excess of $25,000 a year from Texas Water Development Board Bonds, the Texas Public Finance Authority and the Main Street Mezzanine Fund, a Houston investment house.


  • Residence in Horseshoe Bay valued at $2 million

  • Lot in Horseshoe Bay valued at $2 million

  • Lot in Ruidoso, N.M., valued at $280,000


  • Fraser was criticized for failing to disclose real estate holdings in Horseshoe Bay, including the coveted property he bought for Gov. Rick Perry in 2000. Perry bought the property from Fraser and then sold it for the the biggest real estate profit he ever made. By the time the failure to disclose had been discovered, it was long past the statute of limitations for any enforcement action. Fraser, who had failed to disclose other Horseshoe Bay properties, has since amended his reports to reflect his current real estate holdings, and called the failures innocent errors.

  • Fraser has faced scrutiny for his lavish campaign spending after using the account to pay for trips he took with his wife to Park City, Utah, and to travel to Hawaii, Russia, Spain, England, Germany, Panama, Puerto Rico and Costa Rica, often staying in upscale resort hotels, according to reports by KXAN and the Texas Observer. He has also spent thousands to host conferences and "constituent meetings" in New Mexico, where he owns a vacation condo, records show. Fraser has defended the travel as related to state business, including studying wind farms and other renewable energy sources.