Texas 2025 - 89th Regular

Texas Senate Bill SB1875 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	89R5715 SRA-D
2	2	By: Perry S.B. No. 1875
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7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to the repeal of the requirement that certain entities
10	10	subject to the franchise tax must file a public information report
11	11	with the comptroller of public accounts.
12	12	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
13	13	SECTION 1. Section 153.301, Business Organizations Code, is
14	14	amended to read as follows:
15	15	Sec. 153.301. PERIODIC REPORT. The secretary of state may
16	16	require a domestic limited partnership or a foreign limited
17	17	partnership registered to transact business in this state [that is
18	18	not required to file a public information report with the
19	19	comptroller under Section 171.203, Tax Code,] to file a report not
20	20	more than once every four years as required by this subchapter.
21	21	SECTION 2. Sections 12.019(e) and (h), Property Code, are
22	22	amended to read as follows:
23	23	(e) An [Subject to Subsection (f), an] affidavit described
24	24	by Subsection (c) must:
25	25	(1) be executed under penalty of perjury by an
26	26	individual who swears that the individual:
27	27	(A) is at least 18 years of age;
28	28	(B) is authorized to execute and deliver the
29	29	affidavit on behalf of the entity;
30	30	(C) is fully competent to execute the affidavit;
31	31	and
32	32	(D) understands that:
33	33	(i) third parties will rely on the
34	34	truthfulness of the statements made in the affidavit; and
35	35	(ii) the affidavit is made under penalty of
36	36	perjury; and
37	37	(2) state:
38	38	(A) the name of the domestic entity or foreign
39	39	entity that holds title to the real property and that the entity is
40	40	active or in good standing under the laws of the entity's
41	41	jurisdiction of formation;
42	42	(B) the address, including street address, of the
43	43	domestic entity's or foreign entity's principal place of business
44	44	in this state or, if the entity does not have a principal place of
45	45	business in this state, the address of the entity's principal place
46	46	of business in the state or country that is the entity's
47	47	jurisdiction of formation;
48	48	(C) the legal description of the real property an
49	49	estate or interest in which is to be transferred and specify the
50	50	nature of the transfer authorized; and
51	51	(D) the name and title of one or more individuals
52	52	authorized to transfer on the entity's behalf an estate or interest
53	53	in the real property described in the affidavit.
54	54	(h) The individual executing the affidavit described by
55	55	Subsection (c) may be the individual identified in the affidavit as
56	56	authorized to transfer an estate or interest in the real property
57	57	described in the affidavit if the entity is:
58	58	(1) [the entity is] a limited liability company and
59	59	the affidavit includes a representation by the affiant that the
60	60	affiant is the sole member and manager of the limited liability
61	61	company;
62	62	(2) [the entity is] a limited partnership and the
63	63	affidavit includes a representation by the affiant that the affiant
64	64	is the sole general partner of the limited partnership; or
65	65	(3) [the entity is] a professional entity and the
66	66	affidavit includes a representation by the affiant that the affiant
67	67	is the sole director and officer of the applicable professional
68	68	entity[; or
69	69	[(4) the most recent franchise tax public information
70	70	report of the entity under Section 171.203, Tax Code, available on
71	71	the date the affidavit is executed identifies only the affiant and
72	72	no other person as an officer, director, member, manager, or
73	73	general partner of the entity].
74	74	SECTION 3. Section 171.207, Tax Code, is amended to read as
75	75	follows:
76	76	Sec. 171.207. INFORMATION NOT CONFIDENTIAL. Information
77	77	contained in a document filed under this chapter with a county clerk
78	78	as notice of a tax lien [The following information] is not
79	79	confidential and shall be made open to public inspection[:
80	80	[(1) information contained in a document filed under
81	81	this chapter with a county clerk as notice of a tax lien; and
82	82	[(2) information contained in a report required by
83	83	Section 171.203 or 171.2035].
84	84	SECTION 4. The following provisions are repealed:
85	85	(1) Section 12.019(f), Property Code; and
86	86	(2) Section 171.203, Tax Code.
87	87	SECTION 5. This Act takes effect September 1, 2025.