Honorable Trey Martinez Fischer, Chair, House Committee on Business & Industry
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
SB1969 by Hancock (Relating to ratification of defective corporate acts of nonprofit corporations; authorizing a fee.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend the Business Organizations Code to establish procedures for the ratification of void or voidable corporate acts for non-profit organizations, and creates a related fee.
Based on the analysis of the Office of Court Administration and the Office of the Secretary of State, duties and responsibilities associated with implementing the provisions of the bill could be accomplished using existing resources.
Based on analysis by the Comptroller of Public Accounts, the fee authorized by the bill would not have a significant revenue impact to the state.
The bill would take effect on September 1, 2019.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 304 Comptroller of Public Accounts, 307 Secretary of State