LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
74th Regular Session
April 13, 1995
TO: Honorable Kim Brimer, Chair IN RE: Committee Substitute
Committee on Business & Industry for
House of Representatives House Bill
Austin, Texas No. 1425
FROM: John Keel, Director
In response to your request for a Fiscal Note on House Bill No.
1425 (relating to business organizations) this office has
determined the following:
The bill would make no appropriation but could provide the legal
basis for an appropriation of funds to implement the provisions
of the bill.
The bill would make numerous amendments to the Texas Business
Corporation Act, Texas Non-Profit Corporation Act, Texas
Miscellaneous Corporation Laws Act, Texas Limited Liability
Company Act, Texas Revised Limited Partnership Act, and the Texas
Revised Partnership Act.
The probable fiscal implication of implementing the provisions of
the bill during each of the first five years following passage
is estimated as follows:
Fiscal Probable Revenue Probable Cost Change in
Year Loss from Out of Number of State
General Revenue General Revenue Employees from
Fund 001 Fund 001 FY 1994
1995 $0 $88,480 .0
1996 908,000 179,398 5.0
1997 959,000 132,996 5.0
1998 1,002,000 132,996 5.0
1999 1,073,000 132,996 5.0
2000 1,145,000 132,996 5.0
Similar annual fiscal implications would continue as long as the
provisions of the bill are in effect.
No fiscal implication to units of local government is
anticipated.
Source: Comptroller of Public Accounts, Secretary of State
LBB Staff: JK, JC, RR