LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 13, 2015 TO: Honorable René Oliveira, Chair, House Committee on Business & Industry FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3168 by Simmons (Relating to remedies for oppression of minority shareholders by directors of closely held corporations.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Business Organizations Code to establish remedies for certain shareholders in closely held corporations.The Secretary of State indicates the provisions of the bill could be implemented within existing resources. The bill would take effect September 1, 2015. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:307 Secretary of State LBB Staff: UP, CL, EP, CM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 13, 2015
TO: Honorable René Oliveira, Chair, House Committee on Business & Industry FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3168 by Simmons (Relating to remedies for oppression of minority shareholders by directors of closely held corporations.), As Introduced
TO: Honorable René Oliveira, Chair, House Committee on Business & Industry
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB3168 by Simmons (Relating to remedies for oppression of minority shareholders by directors of closely held corporations.), As Introduced
Honorable René Oliveira, Chair, House Committee on Business & Industry
Honorable René Oliveira, Chair, House Committee on Business & Industry
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB3168 by Simmons (Relating to remedies for oppression of minority shareholders by directors of closely held corporations.), As Introduced
HB3168 by Simmons (Relating to remedies for oppression of minority shareholders by directors of closely held corporations.), 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 establish remedies for certain shareholders in closely held corporations.The Secretary of State indicates the provisions of the bill could be implemented within existing resources. The bill would take effect September 1, 2015.
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: UP, CL, EP, CM
UP, CL, EP, CM