TO: | Honorable Kevin Eltife, Chair, Senate Committee on Business & Commerce |
FROM: | Ursula Parks, Director, Legislative Budget Board |
IN RE: | SB860 by Eltife (Relating to corporations and fundamental business transactions.), As Introduced |
The bill would amend the Business Organizations Code to require the Secretary of State to specify and clarify procedures for certain business transactions, creating a new filing. The Secretary of State does not anticipate a significant increase in the number of transactions processed or the amount of revenue collected.
The Secretary of State indicates the provisions of the bill could be implemented within existing resources.
This bill would take effect September 1, 2015.
Source Agencies: | 212 Office of Court Administration, Texas Judicial Council, 301 Office of the Governor, 304 Comptroller of Public Accounts, 307 Secretary of State
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LBB Staff: | UP, CL, EP, CM
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