LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION March 19, 2015 TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB860 by Eltife (Relating to corporations and fundamental business transactions), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Business Organizations Code to require the Secretary of State to specify and clarify procedures for certain business transactions, creating a new filing. The Secretary of State does not anticipate a significant increase in the number of transactions processed or the amount of revenue collected. The Secretary of State indicates the provisions of the bill could be implemented within existing resources. This bill would take effect September 1, 2015. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:212 Office of Court Administration, Texas Judicial Council, 301 Office of the Governor, 304 Comptroller of Public Accounts, 307 Secretary of State LBB Staff: UP, CL, EP, CM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
March 19, 2015
TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB860 by Eltife (Relating to corporations and fundamental business transactions), Committee Report 1st House, Substituted
TO: Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB860 by Eltife (Relating to corporations and fundamental business transactions), Committee Report 1st House, Substituted
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
SB860 by Eltife (Relating to corporations and fundamental business transactions), Committee Report 1st House, Substituted
SB860 by Eltife (Relating to corporations and fundamental business transactions), 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 the Business Organizations Code to require the Secretary of State to specify and clarify procedures for certain business transactions, creating a new filing. The Secretary of State does not anticipate a significant increase in the number of transactions processed or the amount of revenue collected. The Secretary of State indicates the provisions of the bill could be implemented within existing resources. This bill would take effect September 1, 2015.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 212 Office of Court Administration, Texas Judicial Council, 301 Office of the Governor, 304 Comptroller of Public Accounts, 307 Secretary of State
212 Office of Court Administration, Texas Judicial Council, 301 Office of the Governor, 304 Comptroller of Public Accounts, 307 Secretary of State
LBB Staff: UP, CL, EP, CM
UP, CL, EP, CM