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Texans for Lawsuit Reform, Texas Stock Exchange, Alliance for Corporate Excellence Laud Passage of Major Legislation Establishing Texas as Nation's Preeminent Business Hub

On May 7, 2025, Texans for Lawsuit Reform, the Texas Stock Exchange, along with the corporate advocacy group Alliance for Corporate Excellence, jointly announced that Senate Bill 29 had received bipartisan approval from both houses of the Texas legislature in Austin.
The bill passed with overwhelming bipartisan support due to concerns that Delaware law has become unpredictable from growing judicial activism and legal complexity.
SB 29 enacts corporate changes that formally establish the business judgment rule and permit corporations to set minimum ownership criteria that must be met before derivative lawsuits can move forward.
The organizations expressed that SB 29 establishes Texas as an attractive hub for businesses looking to relocate or reincorporate and commended lawmakers for their commitment to fostering business success and job growth.
The bill now awaits Governor Greg Abbott’s signature and is expected to attract companies to Texas, promoting job growth and furthering Texas’s leadership in business and economic development.

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