Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB4518 by Cook (Relating to the formation of decentralized unincorporated nonprofit associations and the use of distributed ledger or blockchain technology for certain business purposes; authorizing fees.), As Engrossed
No significant fiscal implication to the State is anticipated.
According to the Secretary of State (SOS), new filings authorized by the bill could result in increased revenues to the State. However, the SOS anticipates that the volume of these filings likely would be small.
According to the Office of the Attorney General, there would be no significant fiscal impact.
According to the Comptroller of Public Accounts, the number of decentralized unincorporated associations that could register an agent with SOS is unknown. Therefore, the fiscal impact on the state cannot be estimated, but would likely be insignificant.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
302 Office of the Attorney General, 304 Comptroller of Public Accounts, 307 Secretary of State