TAB Applauds Signing of Legislation to Enhance Dominance of Texas’ Business Environment
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TAB Applauds Signing of Legislation to Enhance Dominance of Texas’ Business Environment |
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AUSTIN, TEXAS – Today, Texas Association of Business (TAB) CEO Glenn Hamer joined Governor Greg Abbott as he signed Senate Bill 29 – also known as “DExit” – to ensure Texas remains the unrivaled “Headquarters of Headquarters” by enhancing the state’s business courts system and solidifying Texas’ position as the leading state in the nation for business incorporations as many companies look to flee from the state of Delaware. |
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At the invitation of Governor Abbott, Mr. Hamer made remarks at the signing ceremony, thanking Governor Abbott, Lt. Governor Patrick, House Speaker Burrows, Chairman Hughes and Chairman Meyer, for passing SB 29, providing business leaders with even greater confidence to make bold investment decisions in the best interest of their organizations, without fear of unnecessary and costly litigation:
“Senate Bill 29 is a game-changer for Texas businesses and our position as a global leader. This legislation will help further cement our position as the top state for business and will make Texas even more attractive for incorporation. SB 29 will bring new investment and jobs to remain the ‘Headquarters of Headquarters.’
“This bill sends a strong signal that Texas values efficient, fair, and predictable corporate governance by modernizing our corporate laws and codifying the business judgement rule. SB 29 further strengthens the legal protections for businesses and expedites the resolution of corporate disputes, among other pro-business provisions.
“We applaud Chairman Hughes, Chairman Meyer, Lt Governor Patrick, Speaker Burrows and Governor Abbott for their leadership and support. This bill is a major win for Texas.”
During today’s ceremony, Governor Abbott also signed SB 1058 into law, which will help support the establishment and operation of the Texas Stock Exchange (TXSE) – an important recognition that Texas has become a new epicenter for the financial services industry through the creation of the newest national stock exchange.
Additionally, HJR 4 – which will help further strengthen the TXSE – will be put before voters for approval as an amendment to the Texas Constitution during the upcoming November 5, 2025 Constitutional Amendment election.
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