Bill > HB40

This bill establishes and provides comprehensive details about the Texas Business Court system, a specialized judicial venue designed to handle complex business litigation. The bill expands the jurisdiction of business courts to hear civil cases involving business, commercial, and investment matters where the amount in controversy exceeds $5 million, including derivative proceedings, actions regarding organizational governance, securities law claims, and intellectual property disputes. The business courts will be organized into multiple divisions across different administrative regions of Texas, with judges appointed to specific divisions and given specialized training. The bill specifies that these courts do not create new jurisdictional powers but provide an alternative venue for complex business litigation. Key provisions include establishing procedural rules for case assignment, jurisdiction determination, and appeals, with all business court appeals directed to the Fifteenth Court of Appeals. The bill also addresses administrative details such as judges' salaries, expenses, training requirements, and the ability to transfer cases between business and district courts. Notably, the business court provisions will only apply to civil actions commenced on or after September 1, 2024, with a limited provision allowing some existing cases to be transferred to the business court by mutual agreement.

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https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB40