Bill Summary – FastDemocracy

      
		By: Shine
            H.B. No. 2389
         
               A BILL TO BE ENTITLED
            
               AN ACT
            
            relating to employee-owned companies.
         
                   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         
                   SECTION 1.  Section 301.004, Business Organizations Code, is 
         
            amended to read as follows:
         
                   Sec. 301.004.  AUTHORIZED PERSON.  For purposes of this 
         
            title, a person is an authorized person with respect to:
         
                         (1)  a professional association if the person is a 
         
            professional individual; [and]
         
                         (2)  a [professional corporation or a] professional 
         
            limited liability company if the person is a professional 
         
            individual or professional organization; and
         
                         (3)  a professional corporation if the person is:
         
                               (A)  a professional individual;
         
                               (B)  a professional organization; or
         
                               (C)  an employee stock ownership plan, as 
         
            described by Section 303.0015, established by the corporation.
         
                   SECTION 2.  Chapter 303, Business Organizations Code, is 
         
            amended by adding Section 303.0015 to read as follows:
         
                   Sec. 303.0015.  AUTHORIZED PERSON: EMPLOYEE STOCK OWNERSHIP 
         
            PLAN.  For purposes of this chapter, an employee stock ownership 
         
            plan, as defined by Section 4975(e) of the Internal Revenue Code of 
         
            1986 (26 U.S.C. Section 4975(e)), established by a professional 
         
            corporation, is an authorized person if:
         
                         (1)  all of the voting trustees of the plan are 
         
            professional individuals who are licensed to provide at least one 
         
            category of the professional services described in the 
         
            corporation's certificate of formation; and
         
                         (2)  the ownership interests in the plan are not 
         
            directly issued to any person other than the plan trust or a 
         
            professional individual licensed to provide at least one category 
         
            of the professional services described in the corporation's 
         
            certificate of formation.
         
                   SECTION 3.  Subchapter B, Chapter 481, Government Code, is 
         
            amended by adding Section 481.030 to read as follows:
         
                   Sec. 481.030.  ESTABLISHMENT OF EMPLOYEE OWNERSHIP 
         
            ASSISTANCE WEBSITE.  The office shall establish and maintain an 
         
            Internet website for employee-owned company information to serve as 
         
            a source of:
         
                         (1)  outreach and information dissemination for 
         
            fostering increased awareness of employee stock ownership plans; 
         
            and
         
                         (2)  technical assistance to assist businesses in 
         
            determining the feasibility of establishing an employee stock 
         
            ownership plan.
         
                   SECTION 4.  Section 2155.074(b-1), Government Code, is 
         
            amended to read as follows:
         
                   (b-1)  The comptroller or other state agency may, subject to 
         
            Subsection (c) and Section 2155.075, consider the following 
         
            relevant factors under Subsection (b), including:
         
                         (1)  installation costs;
         
                         (2)  life cycle costs;
         
                         (3)  the quality and reliability of the goods and 
         
            services;
         
                         (4)  the delivery terms;
         
                         (5)  indicators of probable vendor performance under 
         
            the contract such as past vendor performance, the vendor's 
         
            financial resources and ability to perform, the vendor's experience 
         
            or demonstrated capability and responsibility, and the vendor's 
         
            ability to provide reliable maintenance agreements and support;
         
                         (6)  the cost of any employee training associated with 
         
            a purchase;
         
                         (7)  the effect of a purchase on agency productivity;
         
                         (8)  the vendor's anticipated economic impact to the 
         
            state or a subdivision of the state, including potential tax 
         
            revenue and employment;
         
                         (9)  the impact of a purchase on the agency's 
         
            administrative resources; [and]
         
                         (10)  whether the vendor is an employee-owned company, 
         
            as defined by Section 271.909, Local Government Code, that is 
         
            incorporated or headquartered in this state; and
         
                   &
Statutes affected: 
Introduced: Business Organizations Code 301.004, Chapter , Business Organizations Code 303.0015 (Chapter , Business Organizations Code 303, Business Organizations Code 301)
House Committee Report: Business Organizations Code 301.004, Chapter , Business Organizations Code 303.0015 (Chapter , Business Organizations Code 303, Business Organizations Code 301)
Engrossed: Business Organizations Code 301.004, Chapter , Business Organizations Code 303.0015 (Chapter , Business Organizations Code 303, Business Organizations Code 301)



	A BILL TO BE ENTITLED
	AN ACT
	relating to employee-owned companies.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 301.004, Business Organizations Code, is
	amended to read as follows:
	Sec. 301.004. AUTHORIZED PERSON. For purposes of this
	title, a person is an authorized person with respect to:
	(1) a professional association if the person is a
	professional individual; [~~and~~]
	(2) a [~~professional corporation or a~~] professional
	limited liability company if the person is a professional
	individual or professional organization; and
	(3) a professional corporation if the person is:
	(A) a professional individual;
	(B) a professional organization; or
	(C) an employee stock ownership plan, as
	described by Section 303.0015, established by the corporation.
	SECTION 2. Chapter 303, Business Organizations Code, is
	amended by adding Section 303.0015 to read as follows:
	Sec. 303.0015. AUTHORIZED PERSON: EMPLOYEE STOCK OWNERSHIP
	PLAN. For purposes of this chapter, an employee stock ownership
	plan, as defined by Section 4975(e) of the Internal Revenue Code of
	1986 (26 U.S.C. Section 4975(e)), established by a professional
	corporation, is an authorized person if:
	(1) all of the voting trustees of the plan are
	professional individuals who are licensed to provide at least one
	category of the professional services described in the
	corporation's certificate of formation; and
	(2) the ownership interests in the plan are not
	directly issued to any person other than the plan trust or a
	professional individual licensed to provide at least one category
	of the professional services described in the corporation's
	certificate of formation.
	SECTION 3. Subchapter B, Chapter 481, Government Code, is
	amended by adding Section 481.030 to read as follows:
	Sec. 481.030. ESTABLISHMENT OF EMPLOYEE OWNERSHIP
	ASSISTANCE WEBSITE. The office shall establish and maintain an
	Internet website for employee-owned company information to serve as
	a source of:
	(1) outreach and information dissemination for
	fostering increased awareness of employee stock ownership plans;
	and
	(2) technical assistance to assist businesses in
	determining the feasibility of establishing an employee stock
	ownership plan.
	SECTION 4. Section 2155.074(b-1), Government Code, is
	amended to read as follows:
	(b-1) The comptroller or other state agency may, subject to
	Subsection (c) and Section 2155.075, consider the following
	relevant factors under Subsection (b), including:
	(1) installation costs;
	(2) life cycle costs;
	(3) the quality and reliability of the goods and
	services;
	(4) the delivery terms;
	(5) indicators of probable vendor performance under
	the contract such as past vendor performance, the vendor's
	financial resources and ability to perform, the vendor's experience
	or demonstrated capability and responsibility, and the vendor's
	ability to provide reliable maintenance agreements and support;
	(6) the cost of any employee training associated with
	a purchase;
	(7) the effect of a purchase on agency productivity;
	(8) the vendor's anticipated economic impact to the
	state or a subdivision of the state, including potential tax
	revenue and employment;
	(9) the impact of a purchase on the agency's
	administrative resources; [~~and~~]
	(10) whether the vendor is an employee-owned company,
	as defined by Section 271.909, Local Government Code, that is
	incorporated or headquartered in this state; and
	& Statutes affected: Introduced: Business Organizations Code 301.004, Chapter , Business Organizations Code 303.0015 (Chapter , Business Organizations Code 303, Business Organizations Code 301) House Committee Report: Business Organizations Code 301.004, Chapter , Business Organizations Code 303.0015 (Chapter , Business Organizations Code 303, Business Organizations Code 301) Engrossed: Business Organizations Code 301.004, Chapter , Business Organizations Code 303.0015 (Chapter , Business Organizations Code 303, Business Organizations Code 301)