LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION February 18, 2011 TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB323 by Carona (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 18, 2011
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB323 by Carona (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SB323 by Carona (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
Honorable John Carona, Chair, Senate Committee on Business & Commerce
Honorable John Carona, Chair, Senate Committee on Business & Commerce
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
SB323 by Carona (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
SB323 by Carona (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