Bill Text: TX HB1957 | 2023-2024 | 88th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the availability of financial information of nonprofit corporations for public inspection.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2023-06-09 - Effective on 9/1/23 [HB1957 Detail]
Download: Texas-2023-HB1957-Comm_Sub.html
Bill Title: Relating to the availability of financial information of nonprofit corporations for public inspection.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2023-06-09 - Effective on 9/1/23 [HB1957 Detail]
Download: Texas-2023-HB1957-Comm_Sub.html
By: Geren (Senate Sponsor - King) | H.B. No. 1957 | |
(In the Senate - Received from the House May 1, 2023; | ||
May 2, 2023, read first time and referred to Committee on Business & | ||
Commerce; May 12, 2023, reported favorably by the following vote: | ||
Yeas 11, Nays 0; May 12, 2023, sent to printer.) | ||
COMMITTEE VOTE | ||
YeaNayAbsentPNV | ||
SchwertnerX | ||
KingX | ||
BirdwellX | ||
CampbellX | ||
CreightonX | ||
JohnsonX | ||
KolkhorstX | ||
MenéndezX | ||
MiddletonX | ||
NicholsX | ||
ZaffiriniX | ||
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relating to the availability of financial information of nonprofit | ||
corporations for public inspection. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 22.353, Business Organizations Code, is | ||
amended to read as follows: | ||
Sec. 22.353. AVAILABILITY OF FINANCIAL INFORMATION FOR | ||
PUBLIC INSPECTION. (a) A corporation shall keep each document the | ||
corporation is required to make available for public inspection as | ||
an entity that is exempt from income taxation under Section 501(a), | ||
Internal Revenue Code of 1986, by being listed as an exempt | ||
organization under Section 501(c)(3) of that code, [ |
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corporation's registered or principal office in this state for at | ||
least three years after the close of the fiscal year. | ||
(b) The corporation shall make the documents described by | ||
Subsection (a) [ |
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public for inspection and copying at the corporation's registered | ||
or principal office during regular business hours. The corporation | ||
may charge a reasonable fee for preparing a copy of a document | ||
[ |
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SECTION 2. This Act takes effect September 1, 2023. | ||
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