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A BILL TO BE ENTITLED
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AN ACT
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relating to employee-owned companies. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 301.004, Business Organizations Code, is |
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amended to read as follows: |
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Sec. 301.004. AUTHORIZED PERSON. For purposes of this |
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title, a person is an authorized person with respect to: |
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(1) a professional association if the person is a |
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professional individual; [and] |
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(2) a [professional corporation or a] professional |
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limited liability company if the person is a professional |
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individual or professional organization; and |
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(3) a professional corporation if the person is: |
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(A) a professional individual; |
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(B) a professional organization; or |
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(C) an employee stock ownership plan, as |
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described by Section 303.0015, established by the corporation. |
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SECTION 2. Chapter 303, Business Organizations Code, is |
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amended by adding Section 303.0015 to read as follows: |
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Sec. 303.0015. AUTHORIZED PERSON: EMPLOYEE STOCK OWNERSHIP |
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PLAN. For purposes of this chapter, an employee stock ownership |
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plan, as defined by Section 4975(e) of the Internal Revenue Code of |
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1986 (26 U.S.C. Section 4975(e)), established by a professional |
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corporation, is an authorized person if: |
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(1) all of the voting trustees of the plan are |
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professional individuals who are licensed to provide at least one |
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category of the professional services described in the |
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corporation's certificate of formation; and |
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(2) the ownership interests in the plan are not |
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directly issued to any person other than the plan trust or a |
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professional individual licensed to provide at least one category |
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of the professional services described in the corporation's |
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certificate of formation. |
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SECTION 3. Subchapter B, Chapter 481, Government Code, is |
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amended by adding Section 481.030 to read as follows: |
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Sec. 481.030. ESTABLISHMENT OF EMPLOYEE OWNERSHIP |
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ASSISTANCE WEBSITE. The office shall establish and maintain an |
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Internet website for employee-owned company information to serve as |
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a source of: |
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(1) outreach and information dissemination for |
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fostering increased awareness of employee stock ownership plans; |
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and |
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(2) technical assistance to assist businesses in |
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determining the feasibility of establishing an employee stock |
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ownership plan. |
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SECTION 4. Section 2155.074(b-1), Government Code, is |
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amended to read as follows: |
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(b-1) The comptroller or other state agency may, subject to |
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Subsection (c) and Section 2155.075, consider the following |
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relevant factors under Subsection (b), including: |
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(1) installation costs; |
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(2) life cycle costs; |
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(3) the quality and reliability of the goods and |
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services; |
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(4) the delivery terms; |
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(5) indicators of probable vendor performance under |
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the contract such as past vendor performance, the vendor's |
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financial resources and ability to perform, the vendor's experience |
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or demonstrated capability and responsibility, and the vendor's |
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ability to provide reliable maintenance agreements and support; |
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(6) the cost of any employee training associated with |
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a purchase; |
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(7) the effect of a purchase on agency productivity; |
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(8) the vendor's anticipated economic impact to the |
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state or a subdivision of the state, including potential tax |
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revenue and employment; |
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(9) the impact of a purchase on the agency's |
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administrative resources; [and] |
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(10) whether the vendor is an employee-owned company, |
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as defined by Section 271.909, Local Government Code, that is |
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incorporated or headquartered in this state; and |
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(11) other factors relevant to determining the best |
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value for the state in the context of a particular purchase. |
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SECTION 5. Subchapter Z, Chapter 271, Local Government |
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Code, is amended by adding Section 271.909 to read as follows: |
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Sec. 271.909. CONSIDERATION OF TEXAS EMPLOYEE-OWNED |
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COMPANIES. (a) In this section: |
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(1) "Employee-owned company" means a corporation for |
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which a majority of the stock is held by an employee stock ownership |
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plan, as defined by Section 4975(e) of the Internal Revenue Code of |
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1986 (26 U.S.C. Section 4975(e)). |
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(2) "Governmental entity" means a municipality, |
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county, or special district. |
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(b) A governmental entity may consider as a relevant factor |
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in scoring a vendor who is responding to a procurement solicitation |
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for goods or services whether the vendor is an employee-owned |
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company incorporated or headquartered in this state. |
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SECTION 6. This Act takes effect September 1, 2023. |