What happened: Gov. Greg Abbott last week signed into law three significant pieces of legislation that Abbott’s office says will “boost Texas’ capital market environment and cement Texas as the Best State for Business.”

Tell me more:

• Senate Bill 29 protects sound business decisions from judicial overreach, giving corporate leaders more confidence to incorporate in Texas. 
• Senate Bill 1058 exempts certain payments made to a Texas-based stock exchange from the stock exchange’s state franchise tax calculations. 
• House Joint Resolution 4 includes an amendment to the Texas Constitution that will ban the imposition of an occupation tax on a Texas stock exchange and taxes on securities exchanges conducted by a Texas stock exchange. 

In his own words: “Texas is the reigning and undisputed champion for doing business in the United States of America.” — Gov. Greg Abbott

TLR Thoughts: The establishment of the Texas Business Court in September 2024, the launch of NYSE Texas in March 2025, the impending launch of the Texas Stock Exchange at the end of 2025 and Nasdaq’s expansion into Dallas are major victories reinforcing Texas’s reputation as the greatest state in the nation to live, work and innovate. TLR applauds the Texas Legislature for taking swift action this session to position Texas as the nation’s preeminent business hub. TLR-backed SB 29 and HB 40 – which has passed the House and awaits Senate passage – together position Texas as a major challenger to the decades-long dominance of Delaware’s business courts, and will help keep the Lone Star State an economic powerhouse.

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