LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION February 24, 2011 TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB521 by Elkins (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced No significant fiscal implication to the State is anticipated. The bill would apply the same liability provisions to limited liability companies that are applicable to for-profit corporations. The bill would become effective September 1, 2011. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:307 Secretary of State LBB Staff: JOB, AG, MS, BTA
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
February 24, 2011
TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB521 by Elkins (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: HB521 by Elkins (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
Honorable Joe Deshotel, Chair, House Committee on Business & Industry
Honorable Joe Deshotel, Chair, House Committee on Business & Industry
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
HB521 by Elkins (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
HB521 by Elkins (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would apply the same liability provisions to limited liability companies that are applicable to for-profit corporations. The bill would become effective September 1, 2011.
The bill would apply the same liability provisions to limited liability companies that are applicable to for-profit corporations. The bill would become effective September 1, 2011.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 307 Secretary of State
307 Secretary of State
LBB Staff: JOB, AG, MS, BTA
JOB, AG, MS, BTA