House Study Bill 529 - Introduced SENATE/HOUSE FILE _____ BY (PROPOSED SECRETARY OF STATE BILL) A BILL FOR An Act authorizing the secretary of state to modify fees for 1 businesses newly organizing in this state during an Iowa 2 start a business month. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5243XD (3) 84 da/nh

S.F. _____ H.F. _____ DIVISION I 1 IOWA START-UP BUSINESS INITIATIVE 2 Section 1. NEW SECTION . 9.4A Iowa start a business 3 initiative. 4 1. As used in this section, unless the context otherwise 5 requires, “business entity” means a profit or nonprofit business 6 organized under the laws of this state, including but not 7 limited to a partnership or limited liability partnership 8 under chapter 486A; a limited partnership under chapter 488; 9 a limited liability company under chapter 489; a corporation 10 under chapter 490; a cooperative association under chapter 499, 11 501, or 501A; or a nonprofit corporation under chapter 504. 12 2. The secretary of state may establish and administer an 13 Iowa start a business initiative. In order to participate in 14 the initiative as an Iowa start-up business, a business entity 15 must qualify as a newly formed Iowa-based business according to 16 requirements established by rules adopted by the secretary of 17 state. 18 3. The secretary of state may designate a month as “Iowa 19 start a business month”. 20 4. The secretary of state may reduce or waive any fee that 21 must be paid to the secretary of state as a direct result of 22 organizing an Iowa start-up business during an Iowa start a 23 business month, which may include a filing fee paid by a person 24 as required pursuant to section 486A.1202, 488.1206, 489.117, 25 490.122, 499.45, 501.105, 501A.205, or 504.113. 26 5. If the secretary of state implements this section or any 27 part of this section, it may adopt all rules that the secretary 28 of state determines is necessary for its administration. 29 DIVISION II 30 COORDINATING PROVISIONS 31 Sec. 2. Section 486A.1202, Code 2011, is amended by adding 32 the following new subsection: 33 NEW SUBSECTION . 4. The secretary of state may reduce or 34 waive any fee that is otherwise required to be collected by the 35 -1- LSB 5243XD (3) 84 da/nh 1/ 3

S.F. _____ H.F. _____ secretary of state under this chapter, if the fee is to be paid 1 by a person as a direct result of organizing an Iowa start-up 2 business as provided in section 9.4A. 3 Sec. 3. Section 488.1206, Code 2011, is amended by adding 4 the following new subsection: 5 NEW SUBSECTION . 4. The secretary of state may reduce or 6 waive any fee that is otherwise required to be collected by the 7 secretary of state under this chapter, if the fee is to be paid 8 by a person as a direct result of organizing an Iowa start-up 9 business as provided in section 9.4A. 10 Sec. 4. Section 489.117, Code 2011, is amended by adding the 11 following new subsection: 12 NEW SUBSECTION . 3A. The secretary of state may reduce or 13 waive any fee that is otherwise required to be collected by the 14 secretary of state under this chapter, if the fee is to be paid 15 by a person as a direct result of organizing an Iowa start-up 16 business as provided in section 9.4A. 17 Sec. 5. Section 490.122, Code Supplement 2011, is amended by 18 adding the following new subsection: 19 NEW SUBSECTION . 4. The secretary of state may reduce or 20 waive any fee that is otherwise required to be collected by the 21 secretary of state under this chapter, if the fee is to be paid 22 by a person as a direct result of organizing an Iowa start-up 23 business as provided in section 9.4A. 24 Sec. 6. Section 501.105, Code 2011, is amended by adding the 25 following new subsection: 26 NEW SUBSECTION . 7. The secretary of state may reduce or 27 waive any fee that is otherwise required to be collected by the 28 secretary of state under this chapter, if the fee is to be paid 29 by a person as a direct result of organizing an Iowa start-up 30 business as provided in section 9.4A. 31 Sec. 7. Section 501A.205, Code 2011, is amended by adding 32 the following new subsection: 33 NEW SUBSECTION . 4. The secretary of state may reduce or 34 waive any fee that is otherwise required to be collected by the 35 -2- LSB 5243XD (3) 84 da/nh 2/ 3

S.F. _____ H.F. _____ secretary of state under this chapter, if the fee is to be paid 1 by a person as a direct result of organizing an Iowa start-up 2 business as provided in section 9.4A. 3 Sec. 8. Section 504.113, Code Supplement 2011, is amended by 4 adding the following new subsection: 5 NEW SUBSECTION . 4. The secretary of state may reduce or 6 waive any fee that is otherwise required to be collected by the 7 secretary of state under this chapter, if the fee is to be paid 8 by a person as a direct result of organizing an Iowa start-up 9 business as provided in section 9.4A. 10 EXPLANATION 11 This bill authorizes the secretary of state to provide for an 12 Iowa start-up business initiative for the benefit of domestic 13 business entities newly organized under the laws of this state 14 according to rules adopted by the secretary of state. Under 15 the initiative, the secretary of state may designate a month 16 as “Iowa start a business month”. The secretary of state may 17 reduce or waive any fee required to be paid by a person as a 18 direct result of organizing an Iowa start-up business during 19 that month (e.g., filing articles of incorporation for an Iowa 20 corporation). The secretary of state is authorized to adopt 21 rules to administer the initiative. 22 -3- LSB 5243XD (3) 84 da/nh 3/ 3