Bill > H6086

This bill provides a specific exemption and extension for the Kane-Barrengos Foundation, a corporation incorporated on July 16, 1969, which has failed to file required annual reports from 1998 to 2024. The bill allows the foundation to reinstate its charter by filing all missing annual reports with the secretary of state and paying associated filing fees by December 31, 2025. Additionally, the foundation must pay a compromise penalty determined by the attorney general for its past failure to submit reports. If these conditions are met, the foundation will have its charter forfeiture or revocation vacated, effectively restoring its legal status and allowing it to regain all the privileges, benefits, powers, duties, and liabilities it had prior to the charter revocation. The bill would take effect immediately upon passage, providing the foundation with a comprehensive opportunity to rectify its past administrative oversights and continue its operations.

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