Bill
Bill > H0708
ID H0708
ID H0708Amends and adds to existing law to provide that the state shall not act as the incorporator of a corporation and to establish provisions regarding the reformation or disassociation of certain corporations.
summary
Introduced
03/07/2024
03/07/2024
In Committee
03/27/2024
03/27/2024
Crossed Over
03/13/2024
03/13/2024
Passed
04/02/2024
04/02/2024
Dead
Signed/Enacted/Adopted
04/03/2024
04/03/2024
Introduced Session
2024 Regular Session
Bill Summary
RELATING TO CORPORATIONS; AMENDING SECTION 30-501, IDAHO CODE, TO PROVIDE CERTAIN PROHIBITIONS ON THE FILING OF ARTICLES OF INCORPORATION BY THE STATE, TO PROVIDE EXCEPTIONS, AND TO DEFINE TERMS; AMENDING CHAPTER 5, TITLE 30, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 30-502, IDAHO CODE, TO PROVIDE FOR CERTAIN REPORTING AND TO PROVIDE FOR THE OPPOR- TUNITY OF CERTAIN CORPORATIONS TO
AI Summary
This bill amends existing law to prohibit the state of Idaho from acting as the incorporator of a corporation, except in limited circumstances. It requires certain corporations that were previously created or incorporated by the state to report information to the Secretary of State by January 1, 2025, and provide the opportunity for those corporations to either be reformed as independent public bodies, dissolve and disassociate from the state, or reform in a way that complies with the new requirements. The bill also establishes that corporations that do not comply with the reporting and reform/disassociation procedures may be considered in violation of state law and not recognized as valid corporations.
Committee Categories
Government Affairs
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Ways and Means Committee (House)
Last Action
Reported Signed by Governor on April 3, 2024 Session Law Chapter 287 Effective: 04/03/2024 (on 04/03/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2024/legislation/H0708/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/H0708E1.pdf |
| Amendment H0708A1 | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/H0708A1.pdf |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/H0708.pdf |
| Fiscal Note/Analysis - Statement of Purpose / Fiscal Note | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/H0708SOP.pdf |
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