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No fiscal implication to the State is anticipated.
SB 1942 would amend current law to clarify that a nonprofit corporation created under the Public Facility Corporation Act would have to remain a public facility corporation under that act.
In addition, the bill would stipulate that a nonprofit corporation created by a housing authority under the Texas Non-Profit Corporation Act would remain a corporation regardless of the date the corporation was created and would continue to be subject to the relevant statute and its requirements.
Texas Action is neutral on SB 1942. While we question the purpose of allowing a governmental entity to create a nonprofit corporation, we do not see that SB 1942 makes substantive changes to current law in conflict with our liberty principles.