Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB1442 by Fraser (Relating to business entities and associations.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend parts of the Business Organizations Code, Business & Commerce Code, Texas Professional Association Act, and Texas Revised Limited Partnership Act. The bill would repeal Section 2.006 of the Business Organizations Code regarding permissible purposes of for-profit corporations related to railroads. The bill would be effective September 1, 2009.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 307 Secretary of State