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Texas Passes Controversial Bill to Attract Corporations

5/10/2025

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Summary

Story summary

Texas lawmakers have passed SB 29, a bold bill designed to entice corporations by restricting shareholder lawsuits to those holding more than 3% of shares. This strategic move aims to elevate Texas as a rival to Delaware in corporate governance. However, plans to enhance the state's business court system have been delayed, with changes not anticipated until 2028.

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Story summary

Texas lawmakers have passed SB 29, a bold bill designed to entice corporations by restricting shareholder lawsuits to those holding more than 3% of shares. This strategic move aims to elevate Texas as a rival to Delaware in corporate governance. However, plans to enhance the state's business court system have been delayed, with changes not anticipated until 2028.