Bill
Bill > HF997
IA HF997
A bill for an act providing fees for the filing of a biennial report by business entities with the secretary of state.(Formerly HF 759, HSB 109.)
summary
Introduced
04/07/2025
04/07/2025
In Committee
04/22/2025
04/22/2025
Crossed Over
04/21/2025
04/21/2025
Passed
Dead
Introduced Session
91st General Assembly
Bill Summary
GENERAL. A business entity organized by statute formed in this state (domestic) or formed outside this state and doing or transacting business in this state (foreign) must file a biennial report with the secretary of state listing information regarding the business entity. The business entity may be organized on a profit basis such as a limited partnership (Code section 488.210), limited liability company (Code section 489.109), or business corporation (Code section 490.1621); on a cooperative basis such as an association, cooperative association, or a cooperative (Code section 497.22, 498.24, 499.499, 501.713, or 501A.231); or as a nonprofit corporation (Code section 504.1613). A business entity must file a biennial report on a two-year cycle by April 1 of either an even-numbered year or odd-numbered year depending on the type of business entity formed. Generally, regardless of the form of the business entity filing a biennial report, the business entity must provide common information, including its name, whether it is domestic or foreign, the name and address of its registered agent and registered office for service of process, the address of its principal office, and any alternative name that it may use. BILL’S PROVISIONS —— FILING FEE. Generally, the secretary of state determines the amount of the filing fee required to accompany a biennial report filed by a domestic or foreign business entity. However, a business corporation, incorporated in this state or registered to do business in this state must pay a filing fee at a statutorily fixed rate of $60 (Code section 490.122). This bill provides that for a business corporation, the amount of the filing fee is also reserved for determination by the secretary of state. The bill makes changes in the language of the relevant statute to correspond to the language in similar statutes governing other types of domestic or foreign business entities.
AI Summary
This bill modifies the requirements for biennial reporting by business corporations in Iowa. Currently, business corporations are required to file a biennial report with the secretary of state every two years, providing key information about their business. The bill changes the existing law by removing a specific $60 filing fee and instead allowing the secretary of state to determine and impose a filing fee for these reports. The bill also makes minor language adjustments to the reporting requirements, such as changing "shall" to "must" and clarifying the timing of report submissions. Specifically, corporations must file their first biennial report between January 1 and April 1 of the first even-numbered year following their incorporation or registration to do business in the state, and subsequent reports must be filed in each following even-numbered year. The report must contain information covering the two-year period immediately preceding the calendar year of filing. These changes align the reporting requirements for business corporations more closely with those of other types of business entities in Iowa.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Ways and Means (H)
Last Action
Subcommittee recommends passage. (on 04/28/2025)
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://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=HF997 |
| Fiscal Note - Corporations, Biennial Report Fees | https://www.legis.iowa.gov/docs/publications/FN/1525843.pdf |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/HF997.html |
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