LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 13, 2015 TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1233 by Taylor, Larry (Relating to authorizing certain distributions of income from a nonprofit corporation to members of the corporation who are certain nonprofit corporations.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Business Organizations Code to allow certain corporations to distribute its income to certain members.The Secretary of State indicates the provisions of the bill could be implemented within existing resources. The bill would take effect immediately upon receiving a two-thirds majority vote in each house. Otherwise, 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, KVe
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 13, 2015
TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1233 by Taylor, Larry (Relating to authorizing certain distributions of income from a nonprofit corporation to members of the corporation who are certain nonprofit corporations.), As Introduced
TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1233 by Taylor, Larry (Relating to authorizing certain distributions of income from a nonprofit corporation to members of the corporation who are certain nonprofit corporations.), As Introduced
Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1233 by Taylor, Larry (Relating to authorizing certain distributions of income from a nonprofit corporation to members of the corporation who are certain nonprofit corporations.), As Introduced
SB1233 by Taylor, Larry (Relating to authorizing certain distributions of income from a nonprofit corporation to members of the corporation who are certain nonprofit 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 allow certain corporations to distribute its income to certain members.The Secretary of State indicates the provisions of the bill could be implemented within existing resources. The bill would take effect immediately upon receiving a two-thirds majority vote in each house. Otherwise, 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, KVe
UP, CL, EP, CM, KVe