LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION

February 24, 2011

TO:	Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM:	John S O'Brien, Director, Legislative Budget Board
IN RE:	HB521 by Elkins (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would apply the same liability provisions to limited liability companies that are applicable to for-profit corporations. The bill would become effective September 1, 2011.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.

Source Agencies:

307 Secretary of State

LBB Staff:

JOB, AG, MS, BTA