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 explanations 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 BILLS 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