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House Bill 2249 |
House Author: Hunter et al. |
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Effective: See below |
Senate Sponsor: Williams |
House Bill 2249 amends the Labor Code to require an applicant for an original or renewal staff leasing services license to demonstrate positive working capital, rather than net worth, in certain amounts, and to require the applicant to provide the Texas Department of Licensing and Regulation with the applicant's financial statement, removing the provision authorizing the applicant to submit a copy of the applicant's most recent federal tax return. The bill requires the financial statement to be prepared in accordance with generally accepted accounting principles, be audited by an independent certified public accountant, and be without qualification as to the going concern status of the applicant. An applicant that does not have audited financial statements based on at least 12 months of operations must meet the financial capacity requirements and provide the department with financial statements that have been reviewed by a certified public accountant. The bill makes these provisions applicable to a staff leasing services license issued or renewed on or after December 31, 2010.
House Bill 2249 authorizes the Texas Commission of Licensing and Regulation to adopt rules to permit the acceptance of electronic filings, including electronic filing and other assurance by an assurance organization qualified and approved by the commission to act on behalf of a staff leasing services company. The bill establishes that for the purpose of determining tax credits, grants, and other economic incentives provided by the State of Texas or other governmental entities that are based on employment, assigned employees are considered employees of the client, and the client is solely entitled to the benefit of any tax credit, economic incentive, or other benefit arising from the employment of assigned employees of the client. The bill requires each staff leasing services company to provide, on request of a client or an agency of Texas, employment information reasonably required by the state agency to support a request, claim, application, or other action by a client seeking a tax credit or economic incentive. The bill takes effect September 1, 2009, except for provisions relating to working capital requirements, which take effect December 31, 2011.