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