What happened: On Feb. 27, Texas state Sen. Bryan Hughes (R-Mineola) and state Rep. Morgan Meyer (R-University Park) filed companion landmark bills promising to reshape the American business landscape. Senate Bill (SB) 29/House Bill (HB) 15 aim to make Texas the preferred jurisdiction for legal domestication by proposing “a series of amendments to the Texas Business Organizations Code that would increase the certainty for how corporate decision-making is reviewed by the courts.”

Tell me more: With growing concerns over Delaware’s legal system becoming less reliable due to activist influence, SB 29/HB 15 seek to reinforce Texas as a hub for business excellence, innovation and growth.

Worth noting: The bills have garnered strong support from business leaders across Texas, including TLR, the Texas Stock Exchange (TXSE) and the Alliance for Corporate Excellence. 

• TLR Chairman Dick Weekley said of SB 29/HB 15: “This critical legislation will further solidify Texas as the nation’s leader in business and economic development—and will draw even more companies to Texas, empowering them to create jobs and continue the Texas Miracle. TLR applauds Senator Hughes and Chairman Meyer for their strong leadership and for their commitment to business excellence in the state.”

TLR Thoughts: SB 29/HB 15 will help ensure that Texas remains the premier state for corporate operations, fostering an environment of innovation, job creation and economic growth for years to come—and positioning Texas as a major challenger to the decadeslong dominance of Delaware’s business courts.

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