LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION March 2, 2011 TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB748 by Carona (Relating to business entities and associations.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend parts of the Texas Business Organizations Code. It would also repeal Section 21.001 related to the applicability of for-profit corporations and Sections 152.802(i) and 152.804 related to insurance and financial responsibilities of limited liability partnerships. The Secretary of State would need to update form instructions associated with this bill. It is anticipated that any costs associated with implementation of the legislation could be absorbed within existing resources. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts, 307 Secretary of State LBB Staff: JOB, AG, MS, BTA
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
March 2, 2011
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB748 by Carona (Relating to business entities and associations.), Committee Report 1st House, Substituted
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SB748 by Carona (Relating to business entities and associations.), Committee Report 1st House, Substituted
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
SB748 by Carona (Relating to business entities and associations.), Committee Report 1st House, Substituted
SB748 by Carona (Relating to business entities and associations.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend parts of the Texas Business Organizations Code. It would also repeal Section 21.001 related to the applicability of for-profit corporations and Sections 152.802(i) and 152.804 related to insurance and financial responsibilities of limited liability partnerships. The Secretary of State would need to update form instructions associated with this bill. It is anticipated that any costs associated with implementation of the legislation could be absorbed within existing resources.
The bill would amend parts of the Texas Business Organizations Code. It would also repeal Section 21.001 related to the applicability of for-profit corporations and Sections 152.802(i) and 152.804 related to insurance and financial responsibilities of limited liability partnerships. The Secretary of State would need to update form instructions associated with this bill. It is anticipated that any costs associated with implementation of the legislation could be absorbed within existing resources.
The bill would amend parts of the Texas Business Organizations Code. It would also repeal Section 21.001 related to the applicability of for-profit corporations and Sections 152.802(i) and 152.804 related to insurance and financial responsibilities of limited liability partnerships. The Secretary of State would need to update form instructions associated with this bill. It is anticipated that any costs associated with implementation of the legislation could be absorbed within existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 307 Secretary of State
304 Comptroller of Public Accounts, 307 Secretary of State
LBB Staff: JOB, AG, MS, BTA
JOB, AG, MS, BTA