Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
HB1873 by Giddings (Relating to business entities and associations.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend parts of the Texas Business Organizations Code.It would also repeal Section 21.001 related to the applicability of for-profit corporations and Sections 152.802(i) and 152.804 related to insurance and financial responsibilities of limited liability partnerships.The Secretary of State would need to update form instructions associated with this bill.It is anticipated that any costs associated with implementation of the legislation could be absorbed within existing resources.
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