The TEC said Perry didn't report rental income and loans on a home in College Station.
In 2009, and 2010, the total undisclosed income was between $7,000 and $29,995, Statesman.com reported. According to the commission, Perry must report any income greater than $500.
The governor said it was just an accounting oversight, but the TEC said he still has to fork over $1,500 in fines.
Perry was also fined for failing to disclose mortgage and financial institution information in relation to the property.
The investigation into the filings was initiated by a complaint by the Texas Democratic Party.