LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION April 28, 2011 TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB748 by Carona (Relating to business entities and associations.), Committee Report 2nd House, As Amended 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
April 28, 2011
TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB748 by Carona (Relating to business entities and associations.), Committee Report 2nd House, As Amended
TO: Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SB748 by Carona (Relating to business entities and associations.), Committee Report 2nd House, As Amended
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
SB748 by Carona (Relating to business entities and associations.), Committee Report 2nd House, As Amended
SB748 by Carona (Relating to business entities and associations.), Committee Report 2nd House, As Amended
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