Amend SB 2337 (house committee report) as follows:
(1) In added Section 6A.001, Business Organizations Code (page 2, line 23), add the following appropriately numbered subdivisions and renumber subsequent subdivisions of that section and cross-references to those subdivisions accordingly:
(____) "Affiliated group" means a group of one or more entities in which a controlling interest is owned by a common owner or owners, either corporate or noncorporate, or by one or more of the member entities.
(____) "Charitable organization" means an organization that is exempt from federal income tax under Section 501(a), Internal Revenue Code of 1986, by being listed as an exempt organization under Section 501(c)(3) of that code.
(2) Immediately after page 3, line 26, add the following:
Sec. 6A.002. INAPPLICABILITY. This chapter does not apply to a charitable organization if:
(1) the organization's gross annual revenue from proxy advisory services is less than $500,000; and
(2) if applicable, each affiliated group of the organization has combined gross annual revenue from proxy advisory services that is less than $500,000.