Monitoring the SessionHB 988
Died in committee
Initial review · graded Oct 20, 2026 · Headline, summary and grade are analysis of the bill text, not a finding about any person · How we grade
relating to the duty of the board of directors of a corporation to maximize the value of the corporation's shares.
Caption from analyzed text · version I.
Directors must maximize share value. Put anything else first, and that’s a breach of fiduciary duty.
The bill adds a rule to the Texas corporation law that every corporate director must act to maximize the value of the corporation's shares. It touches directors and boards of Texas corporations and the shareholders who could sue them. A director who puts any other consideration ahead of share value would be treated as breaching fiduciary duty, starting with board actions taken after the law takes effect.
Labels: ZOMBIE BILL. Died 2 times: 88R HB 4802 (Died in committee) and this bill (Died in committee). Checked against 88R only.DO-OVER. Reworked text of a bill filed before that died: 88R HB 4802 (Died in committee). Filed in 2 sessions, counting this one. Checked against 88R only.TRY NO. 2. Filed in 2 sessions: 88R and 89R. Checked against 88R only.NEVER GOT A HEARING. Filed Nov 12, 2024 and referred to the House Trade, Workforce & Economic Development committee. No public hearing. The bill died.
89R-HB988 · 2024-11-12
relating to the duty of the board of directors of a corporation to maximize the value of the corporation's shares.
Directors must maximize share value. Put anything else first, and that’s a breach of fiduciary duty.
The bill adds a rule to the Texas corporation law that every corporate director must act to maximize the value of the corporation's shares. It touches directors and boards of Texas corporations and the shareholders who could sue them. A director who puts any other consideration ahead of share value would be treated as breaching fiduciary duty, starting with board actions taken after the law takes effect.
[ ] NONE FOUND
No fiscal note in the loaded record.
THE TEXT
“It is considered a breach of the director's fiduciary duty if the director prioritizes another consideration over the maximization of the value of the corporation's shares.”
Bill text, introduced version (I)
The bill creates a new basis for breach-of-fiduciary-duty claims against directors who weigh anything above share value.
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CAMPAIGN PAID FOR BY
Not tied to this bill.
The author's campaign account only. Own money and internal transfers are separate on the member page.
Derived itemized flow · Nov 1, 2024 to Oct 24, 2026. State data as of Nov 4, 2026.
Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.
$37,500.00
Also funds 124 other sitting lawmakers.
Derived recipient stock · Jul 10, 2024 to Oct 23, 2026. State data as of Nov 4, 2026.
TEC account match.
TeamDerived itemized flow · Nov 22, 2024 to Oct 21, 2026. State data as of Nov 4, 2026.
Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.
Report IDs: 101013450, 101032507, 101072627.
Missing data does not establish zero giving. Display amounts are rounded.
$37,500.00
Also funds 124 other sitting lawmakers.
Derived recipient stock · Jul 10, 2024 to Oct 23, 2026. State data as of Nov 4, 2026.
TEC account match.
TeamDerived itemized flow · Nov 22, 2024 to Oct 21, 2026. State data as of Nov 4, 2026.
Derived itemized contributions on live regular reports and uncovered special-session dates. Internal account transfers and daily reports are excluded.
Report IDs: 101013450, 101032507, 101072627.
No floor vote loaded for this bill.
No fiscal note in the loaded record.
Analysis of text version I by claude-opus-5-5, Oct 20, 2026, against the published rubric.
Filed 2 times: 88R and 89R. Checked against 88R only.
by Rep. Harrison, same lead author · Died in committee · reworked
Introduced textLast action, Mar 23, 2023: Referred to Business & Industry
Relating to the duty of the board of directors of a corporation to maximize the value of the corporation's shares.
Caption, 88R bill history
Texas House · Filed Nov 12, 2024
03/06/2025 H Referred to Trade, Workforce & Economic Development: Mar 6 2025 11:42AM
Texas Legislature Online · Introduced
Data snapshot Oct 26, 2026 at 4:19 AM CDT. Grades, charges, quotes and corrections follow the published record.
House committee · Trade, Workforce & Economic Development · Final status: Died in committee
Business & Commerce--General
Corporations & Associations
Financial--General
The text as introduced · 187 words
By: Harrison H.B. No. 988 A BILL TO BE ENTITLED AN ACT relating to the duty of the board of directors of a corporation to maximize the value of the corporation's shares. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 21.401, Business Organizations Code, is amended by adding Subsection (f) to read as follows: (f) Notwithstanding any other law, in discharging the duties of a director, the director shall act to maximize the value of the corporation's shares. It is considered a breach of the director's fiduciary duty if the director prioritizes another consideration over the maximization of the value of the corporation's shares. SECTION 2. This Act applies only to an action taken by the board of directors of a corporation on or after the effective date of this Act. SECTION 3. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution. If this Act does not receive the vote necessary for immediate effect, this Act takes effect September 1, 2025.