HB 40 passes the Senate and awaits the Governor's signature.

HB 40, filed by Rep. Brooks Landgraf (R – Odessa), makes several changes to Chapter 25A of the Government Code. The amended version out of committee passed the Senate on May 28, and the bill now awaits the governor's signature.

HB does the following:

• Expand the definition of “qualified transaction” to include a series of related transaction applying to one or more parties;

• Add to the court's jurisdiction an action (1) arising out of the Business Organizations Code, including an action over which a district court has original or exclusive jurisdiction by the Business Organizations Code; (2) arising or related to intellectual property and trade secrets; and (3) to enforce an arbitration agreement or review an arbitral award involving an amount of $5 million; and (4) multi-district litigation pretrial matters if the court otherwise has jurisdiction.

• Reduce the amount-in-controversy threshold from $10 to $5 million for non-corporate governance-related claims);

• Amend venue provision to establish venue by law, governing documents, or written agreement;

• Require the Office of Court Administration to report on the case activity of a court during the prior year;

• Revise the 30-day timeline provisions related to removal;

• Entitle a business court judge to additional compensation from the state in an amount equal to a district judge’s county supplement;

• Extend the sunset provisions for the unfunded Second, Fifth, Sixth, Seventh, Ninth, and Tenth Divisions, and move Montgomery County in the Eleventh Division.

For more information on SB 40, please see: Texas Legislature Online - 89(R) History for HB 40

(Note: The information in this post is taken from Judge Bullard's very helpful News from the Legislative Front email.)