LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 76th Regular Session April 22, 1999 TO: Honorable Kim Brimer, Chair, House Committee on Business & Industry FROM: John Keel, Director, Legislative Budget Board IN RE: HB2681 by Bosse (relating to adoption of the Texas Business Organizations Code; providing penalties), Committee Report 1st House, Substituted ************************************************************************** * Estimated Two-year Net Impact to General Revenue Related Funds for * * HB2681, Committee Report 1st House, Substituted: No fiscal impact * * through the biennium ending August 31, 2001. * * * * The bill would make no appropriation but could provide the legal * * basis for an appropriation of funds to implement the provisions of * * the bill. * ************************************************************************** General Revenue-Related Funds, Five-Year Impact: **************************************************** * Fiscal Year Probable Net Positive/(Negative) * * Impact to General Revenue Related * * Funds * * 2002 $1,174,450 * * 2003 1,761,675 * * 2004 1,761,675 * * 2005 1,761,675 * * 2006 1,761,675 * **************************************************** All Funds, Five-Year Impact: ***************************************************** * Fiscal Year Probable Revenue Gain/(Loss) from * * General Revenue Fund * * 0001 * * 2002 $1,174,450 * * 2003 1,761,675 * * 2004 1,761,675 * * 2005 1,761,675 * * 2006 1,761,675 * ***************************************************** Fiscal Analysis The bill would revise filing fees currently applied to business entities. According to the Secretary of State, many of the filing fees would increase. Methodology The Secretary of State projects gains in General Revenue derived from fee increases. Based upon statistical reports it maintains on document filings, the agency projects a gain of $1,174,450 in fiscal year 2002 and a gain of $1,761,675 in fiscal year 2003 and each subsequent year from filing fees. The effective date of the bill is January 1, 2002. The fee provisions of the bill apply to all business entities on that date. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies: 307 Secretary of State LBB Staff: JK, TH, PH, SG