LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION March 9, 2013 TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB849 by Carona (Relating to social purposes of a for-profit corporation and the consideration of social purposes and other interests by officers and directors of a for-profit corporation.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Business Organizations Code to provide that a for-profit corporation may include "social purposes" in its certificate of formation in addition to its profit interests and purposes. The Secretary of State indicated there would be no additional filings and no changes in review procedures; therefore, no significant fiscal impact is anticipated. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:307 Secretary of State LBB Staff: UP, RB, TP
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
March 9, 2013
TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB849 by Carona (Relating to social purposes of a for-profit corporation and the consideration of social purposes and other interests by officers and directors of a for-profit corporation.), As Introduced
TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB849 by Carona (Relating to social purposes of a for-profit corporation and the consideration of social purposes and other interests by officers and directors of a for-profit corporation.), As Introduced
Honorable John Carona, Chair, Senate Committee On Business & Commerce
Honorable John Carona, Chair, Senate Committee On Business & Commerce
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB849 by Carona (Relating to social purposes of a for-profit corporation and the consideration of social purposes and other interests by officers and directors of a for-profit corporation.), As Introduced
SB849 by Carona (Relating to social purposes of a for-profit corporation and the consideration of social purposes and other interests by officers and directors of a for-profit corporation.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Business Organizations Code to provide that a for-profit corporation may include "social purposes" in its certificate of formation in addition to its profit interests and purposes. The Secretary of State indicated there would be no additional filings and no changes in review procedures; therefore, no significant fiscal impact is anticipated.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 307 Secretary of State
307 Secretary of State
LBB Staff: UP, RB, TP
UP, RB, TP