Iowa HF 997: A bill for an act providing fees for the filing of a biennial report by business entities with the secretary of state.

Bill Text

House
File
997
-
Introduced

HOUSE
FILE
997

BY
COMMITTEE
ON
WAYS
AND
MEANS

(SUCCESSOR
TO
HF
759)

(SUCCESSOR
TO
HSB
109)

A
BILL
FOR

An
Act
providing
fees
for
the
filing
of
a
biennial
report
by
1

business
entities
with
the
secretary
of
state.
2

BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3

TLSB
1421HZ
(1)
91

da/jh

H.F.
997

Section
1.
Section
490.122,
subsection
1,
paragraph
ad,
1

Code
2025,
is
amended
by
striking
the
paragraph.
2

Sec.
2.
Section
490.122,
Code
2025,
is
amended
by
adding
the
3

following
new
subsection:
4

NEW
SUBSECTION
.
4.
The
secretary
of
state
may
impose,
5

assess,
and
collect
a
filing
fee
as
a
condition
to
accepting
a
6

biennial
report
as
provided
in
section
490.1621.
7

Sec.
3.
Section
490.1621,
subsection
4,
Code
2025,
is
8

amended
to
read
as
follows:
9

4.
The
first
biennial
report
shall

must
be
delivered
to
10

the
secretary
of
state
between
January
1
and
April
1
of
the
11

first
even-numbered
year
following
the
calendar
year
in
which
a
12

domestic
corporation
was
incorporated
or
a
foreign
corporation
13

was
registered
to
do
business
in
this
state.
Subsequent

A
14

biennial
reports
report
must
be
delivered
to
the
secretary
15

of
state
between
January
1
and
April
1
of
the
each
following
16

even-numbered
calendar
years
year
.
For
purposes
of
this
17

section

,
each
A
filing
fee
for
the
biennial
report
shall
be
18

determined
by
the
secretary
of
state
pursuant
to
section

19

490.122.
The
biennial
report
shall
contain
information
related
20

to
the
two-year
period
immediately
preceding
the
calendar
year
21

in
which
the
report
is
filed.
22

EXPLANATION
23

The
inclusion
of
this
explanation
does
not
constitute
agreement
with
24

the
explanation’s
substance
by
the
members
of
the
general
assembly.
25

GENERAL.
A
business
entity
organized
by
statute
formed
in
26

this
state
(domestic)
or
formed
outside
this
state
and
doing
27

or
transacting
business
in
this
state
(foreign)
must
file
a
28

biennial
report
with
the
secretary
of
state
listing
information
29

regarding
the
business
entity.
The
business
entity
may
be
30

organized
on
a
profit
basis
such
as
a
limited
partnership
(Code
31

section
488.210),
limited
liability
company
(Code
section
32

489.109),
or
business
corporation
(Code
section
490.1621);
33

on
a
cooperative
basis
such
as
an
association,
cooperative
34

association,
or
a
cooperative
(Code
section
497.22,
498.24,
35

-1-

LSB
1421HZ
(1)
91

da/jh

1/
2

H.F.
997

499.499,
501.713,
or
501A.231);
or
as
a
nonprofit
corporation
1

(Code
section
504.1613).
A
business
entity
must
file
a
2

biennial
report
on
a
two-year
cycle
by
April
1
of
either
an
3

even-numbered
year
or
odd-numbered
year
depending
on
the
type
4

of
business
entity
formed.
Generally,
regardless
of
the
form
5

of
the
business
entity
filing
a
biennial
report,
the
business
6

entity
must
provide
common
information,
including
its
name,
7

whether
it
is
domestic
or
foreign,
the
name
and
address
of
its
8

registered
agent
and
registered
office
for
service
of
process,
9

the
address
of
its
principal
office,
and
any
alternative
name
10

that
it
may
use.
11

BILL’S
PROVISIONS
——
FILING
FEE.
Generally,
the
secretary
12

of
state
determines
the
amount
of
the
filing
fee
required
to
13

accompany
a
biennial
report
filed
by
a
domestic
or
foreign
14

business
entity.
However,
a
business
corporation,
incorporated
15

in
this
state
or
registered
to
do
business
in
this
state
must
16

pay
a
filing
fee
at
a
statutorily
fixed
rate
of
$60
(Code
17

section
490.122).
This
bill
provides
that
for
a
business
18

corporation,
the
amount
of
the
filing
fee
is
also
reserved
19

for
determination
by
the
secretary
of
state.
The
bill
makes
20

changes
in
the
language
of
the
relevant
statute
to
correspond
21

to
the
language
in
similar
statutes
governing
other
types
of
22

domestic
or
foreign
business
entities.
23

-2-

LSB
1421HZ
(1)
91

da/jh

2/
2