LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION

April 13, 2011

TO:	Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM:	John S O'Brien, Director, Legislative Budget Board
IN RE:	HB3244 by Elkins (Relating to shareholder standing to institute or maintain a derivative proceeding after a merger.), Committee Report 1st House, Substituted

No fiscal implication to the State is anticipated.

The bill would amend Section 21.552 of the Business Organization Code related to certain shareholder standing after certain mergers.  The bill would take effect on September 1, 2011.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

307 Secretary of State

LBB Staff:

JOB, AG, BTA