MRT 6/24/25 (free): Patrick Rips Abbott for SB3 Veto // MAHA-Inspired Food Ingredient Warnings Coming // Huffman Announces Atty Gen Bid // TX Attempts to Lure Business After ‘DEXIT’

MustReadTexas.com – @MustReadTexas
BY: @MattMackowiak 

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TUESDAY | 6/24/2025

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“If something of importance is known in Texas, Matt knows it. With a decline in the number of credible news organizations, the Must Read Texas morning email is indispensable for anyone that wants to continue to be informed.” – Former U.S. Senator Phil Gramm (R-TX)

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• TOP NEWS

“Texas, Oklahoma and Nevada make changes to lure business amid Delaware’s ‘Dexit’ concern,” AP's Mingson Lau – “Lawmakers in Texas, Oklahoma and Nevada have recently approved changes aimed at helping their states dip into the lucrative side of corporate litigation that Delaware, with a specialized court and business-friendly laws, has dominated as the world’s incorporation capital.

Concerned that these changes may lure corporations away from Delaware, thereby causing the small state to lose millions in corporate franchise taxes, Delaware officials have responded with their own changes to solidify their status in the business world.

In Texas, which opened a business court last year, there was bipartisan support for legislation diminishing shareholder powers and giving businesses more legal protections against shareholder lawsuits. Nevada lawmakers approved a corporation-friendly update to its business laws, also with bipartisan support, and separately moved toward asking voters to consider changing the state constitution to create a dedicated business court with appointed judges.

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Billionaire Elon Musk had advocated both states as better options for incorporation after a Delaware judge struck down his shareholder-approved $56 billion compensation package from Tesla. Musk’s businesses have also changed where they’re incorporated: Tesla and SpaceX relocated to Texas, while Neuralink moved to Nevada.

Oklahoma also took action to get in the mix, as the Republican-led Legislature sanctioned the creation of business courts in its two most populous counties, a move the governor said would help Oklahoma become the most business-friendly state.

“This is an area in which states, in many ways, are behaving like businesses,” said Robert Ahdieh, dean of the Texas A&M University School of Law. “Delaware is selling something. Texas is selling something that they hold out to be better. So it is very much a comparative exercise.” ...

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In May, Texas Gov. Greg Abbott signed legislation providing greater securities for corporate officers and adding restrictions to shareholder records requests. The bill also allows corporations to require an ownership threshold, no more than 3% in outstanding shares, before a shareholder can initiate a derivative lawsuit, typically on behalf of the company and against its own board or directors.

Restrictions on who can initiate such lawsuits are not uncommon, but Texas’ implementation imposes a “far higher barrier than the norm,” Ahdieh said.

Consumer advocates worry the changes endanger shareholder and investor protections by giving owners and directors more protection against lawsuits that could hold them accountable if they violate their fiduciary duty.

For businesses, the changes mean potentially saving millions of dollars in shareholder lawsuit settlements and legal fees by mitigating the likelihood of those costly cases reaching court. For the states, attracting the companies means millions in business activity and revenue from regulatory filing and court case fees and taxes." AP

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• #TXLEGE

“Lt. Gov. Patrick rips Gov. Abbott for vetoing THC ban, digs in against calls for regulation” Texas Tribune

Editorial: “Texas hemp industry needs strong guardrails” DMN ($)

“Texas will put warning labels on some foods, but its additives list has inaccuracies” AP

• STATE GOVERNMENT

“Gov. Greg Abbott vetoes funding for federal summer lunch program” Texas Tribune

“Port San Antonio snubbed: Abbott vetoes $50M for military cyber campus” SAEN ($)

• LOCAL GOVERNMENT

“Houston Fire Department recruiting is at a new high. Will it help with its excessive overtime issue?” Hou Chron ($)

• TRUMP ADMINISTRATION

“U.S. Border Patrol is increasingly seen far from the border as Trump ramps up deportation arrests” AP

• 2026

“Sen. Joan Huffman joins GOP field vying to succeed Ken Paxton as Texas attorney general” Texas Tribune

“Former astronaut Terry Virts launches Democratic bid for U.S. Senate in Texas” Texas Tribune

• TEXANS IN DC

“Rep. Jasmine Crockett drops bid for influential post on House oversight panel” Texas Tribune

• BUSINESS NEWS

“BlackRock leans into Texas economic miracle with new index ETF” DMN ($)

“Dallas-based Pony Oil says Pioneer ‘fabricated’ basis of $534 million suit” DMN ($)

• NEWS FROM AROUND THE STATE

> TX TRIB: "What Texas lawmakers did this session to close the state’s workforce gaps" TX TRIB

> HOU CHRON: "Dan Patrick won’t support Abbott’s call to regulate THC, setting up showdown" HOU CHRON

> HOU CHRON: "Texas politicians react to Trump's decision to strike Iranian nuclear facilities" HOU CHRON

> HOU CHRON: "Abbott vetoes summer food aid program, forgoing $450M in federal funds" HOU CHRON

> HOU CHRON: "Texas THC ban fails after Greg Abbott's last-minute veto" HOU CHRON

> HOU CHRON: "Abbott sets special session on THC regulation amid Trump redistricting push" HOU CHRON

> AAS: "Gov. Greg Abbott vetoes THC ban bill, calls special session. Is marijuana legal in Texas?" AAS

> THE TEXAN: "Gov. Abbott Vetoes Affirmative Defense for Human Trafficking, Adds to Special Session Call" THE TEXAN

> THE TEXAN: "Patrick Blasts Abbott's THC Ban Veto, Suggests Governor Wants to 'Legalize Marijuana'" THE TEXAN

> THE TEXAN: "Texas Court of Appeals Rules Against San Antonio Taxpayer-Funded Abortion Travel" THE TEXAN

> AAS: "Why outgoing Texas A&M Chancellor John Sharp has no plans to fade away" AAS

> DMN: "Gateway scandal fallout prompts resignation of 18-year senior pastor in Colorado" DMN

> SAEN: "Texas THC ban fails after Greg Abbott's last-minute veto" SAEN

> THE TEXAN: "Texas Lawmakers, Hemp Industry React to Abbott's THC Ban Veto" THE TEXAN

> THE TEXAN: "Abbott Calls July Special Session Including THC Ban, Human Trafficking Affirmative Defense" THE TEXAN

> THE TEXAN: "Sen. Joan Huffman Announces Bid for Texas Attorney General" THE TEXAN

> SA REPORT: "Texas nixes summer meal program, citing Trump-era cuts" SA REPORT

> THE TEXAN: "Veto Tracker: Gov. Abbott's Vetoes from the 89th Legislative Session" THE TEXAN

> AAS: "How Kelly Hancock plans to manage being acting comptroller, candidate" AAS

> TPR: "U.S. strikes on Iran spark patriotism in Tehran, one resident says" TPR

> THE TEXAN: "Texas Lawmakers, Officials React to U.S. Strikes on Iran" THE TEXAN

• EXTRA POINTS

Recent Texas sports schedule:
> MLB: Baltimore 6, Texas 0

Today's Texas sports schedule:
> 5:35pm: MLB: Texas at Baltimore
> 7pm: WNBA: Atlanta at Dallas
> 7:10pm: MLB: Philadelphia at Houston

Tomorrow's Texas sports schedule:
> 5:35pm: MLB: Texas at Baltimore
> 7:10pm: MLB: Philadelphia at Houston
> 7:30pm: MLS: San Jose at Dallas
> 7:30pm: MLS: Houston at Minnesota

HOUSTON ASTROS: “Houston Astros shortstop Jeremy Peña hires agent Scott Boras" Hou Chron ($)

TEXAS RANGERS: "Rogers shuts down Rangers and Holliday hits a three-run homer in Orioles’ 6-0 win" AP

DALLAS MAVERICKS: "Dallas Mavericks center Daniel Gafford expected to sign three-year extension" DMN ($)

HOUSTON ROCKETS: “Why Houston Rockets might still be active in NBA draft after trading picks for Kevin Durant" Hou Chron ($)

SAN ANTONIO SPURS: "Spurs turn attention to NBA Draft after turning down Kevin Durant, Kristaps Porzingis trades" SAEN ($)