Iowa House Bill HSB632

Iowa 2023-2024 Regular Session

• Introduced: 1/30/24
• Refer: 1/30/24

Caption

A bill for an act providing for certain business entities by establishing a military service filing fee waiver, and including effective date provisions.(See HF 2446.)

Impact

The proposed bill amends various sections of Iowa's Code to include provisions that specifically address the fee waiver program administered by the Secretary of State. It provides that business entities such as limited partnerships, limited liability companies, corporations, and nonprofit corporations can qualify for this waiver, enhancing accessibility for service members engaged in these business types. Importantly, the bill requires that individuals requesting waivers must be current servicemembers or veterans who have a stake in the entity, thus promoting the involvement of military personnel in state business activities.

Summary

House Study Bill 632 is initiated to establish a military service filing fee waiver for certain business entities in Iowa. The legislation aims to ease the financial burden on military personnel and veterans by enabling qualified business entities to submit specific select documents without the associated filing fees. This initiative recognizes the contributions of armed forces members and is designed to support their entrepreneurial efforts as they transition to civilian life. The bill outlines who qualifies as a business entity and the procedures necessary to secure the fee waivers, intending to foster a supportive environment for businesses owned by service members.

Contention

While the bill generally appears to have support as a means of recognizing military contributions, potential points of contention may arise regarding the definition of 'qualified business entities' and the criteria set for eligibility to receive the fee waiver. Critics may argue that this could unintentionally limit opportunities for certain sectors or types of military-affiliated businesses that do not meet the outlined qualifications. Ensuring that the criteria are inclusive and adequately address the needs of all service members looking to establish businesses in Iowa will be a crucial factor in the discourse surrounding this bill.