House File 272
HOUSE FILE
BY JOCHUM
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to requirements for state and local governmental
2 units, including requirements for the secretary of state and
3 counties relating to the filing of business and commercial
4 documents, providing for fees and appropriations, and
5 providing effective and retroactive applicability dates.
6 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
7 TLSB 1337HH 80
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PAG LIN
1 1 DIVISION I
1 2 BUSINESS FILING FEES
1 3 Section 1. Section 490.1622, subsection 3, Code 2003, is
1 4 amended to read as follows:
1 5 3. a. The first biennial report shall be delivered to the
1 6 secretary of state between January 1 and April 1 of the first
1 7 even=numbered year following the calendar year in which a
1 8 domestic corporation was incorporated or a foreign corporation
1 9 was authorized to transact business. Subsequent biennial
1 10 reports must be delivered to the secretary of state between
1 11 January 1 and April 1 of the following even=numbered calendar
1 12 years.
1 13 b. A filing fee for the biennial report shall be
1 14 determined by the secretary of state. Not more than five
1 15 dollars per biennial report collected by the secretary of
1 16 state under this section shall be treated as repayment
1 17 receipts, as defined in section 8.2, and shall be used for the
1 18 operation of the secretary's office. For each state fiscal
1 19 year, there is appropriated from the general fund of the state
1 20 to the secretary of state, from moneys not otherwise
1 21 appropriated, an amount necessary to pay processing fees which
1 22 are owed to credit card issuers for filing biennial reports by
1 23 credit card pursuant to section 12.21.
1 24 c. For purposes of this section, each biennial report
1 25 shall contain information related to the two=year period
1 26 immediately preceding the calendar year in which the report is
1 27 filed.
1 28 Sec. 2. 2002 Iowa Acts, Second Extraordinary Session,
1 29 chapter 1003, section 24, is repealed.
1 30 DIVISION II
1 31 FILING REQUIREMENTS AND FEES
1 32 UNIFORM COMMERCIAL CODE
1 33 Sec. 3. Section 554.9519, subsection 8, Code 2003, is
1 34 amended to read as follows:
1 35 8. TIMELINESS OF FILING OFFICE PERFORMANCE. The filing
2 1 office shall perform the acts required by subsections 1
2 2 through 5 at the time and in the manner prescribed by filing=
2 3 office rule, but not later than two ten business days after
2 4 the filing office receives the record in question.
2 5 Sec. 4. Section 554.9520, subsection 2, Code 2003, is
2 6 amended to read as follows:
2 7 2. COMMUNICATION CONCERNING REFUSAL. If a filing office
2 8 refuses to accept a record for filing, it shall communicate to
2 9 the person that presented the record the fact of and reason
2 10 for the refusal and the date and time the record would have
2 11 been filed had the filing office accepted it. The
2 12 communication must be made at the time and in the manner
2 13 prescribed by filing=office rule but in no event more than two
2 14 ten business days after the filing office receives the record.
2 15 Sec. 5. Section 554.9523, subsection 3, paragraph a,
2 16 unnumbered paragraph 1, Code 2003, is amended to read as
2 17 follows:
2 18 whether there is on file on a date and time specified by
2 19 the filing office, but not a date earlier than three eleven
2 20 business days before the filing office receives the request,
2 21 any financing statement that:
2 22 Sec. 6. Section 554.9523, subsection 5, Code 2003, is
2 23 amended to read as follows:
2 24 5. TIMELINESS OF FILING OFFICE PERFORMANCE. The filing
2 25 office shall perform the acts required by subsections 1
2 26 through 4 at the time and in the manner prescribed by filing=
2 27 office rule, but not later than two ten business days after
2 28 the filing office receives the request.
2 29 Sec. 7. Section 554.9525, Code 2003, is amended by adding
2 30 the following new subsection:
2 31 NEW SUBSECTION. 5. FEES. Fees collected by the secretary
2 32 of state under this section shall be treated as repayment
2 33 receipts, as defined in section 8.2, and shall be used for the
2 34 operation of the secretary's office.
2 35 Sec. 8. OFFICE OF THE SECRETARY OF STATE == DEPOSIT OF
3 1 FEES INTO THE GENERAL FUND.
3 2 1. Notwithstanding section 554.9525, and except as
3 3 otherwise provided in subsection 2, for each fiscal year of
3 4 the period beginning July 1, 2002, and ending June 30, 2004,
3 5 the secretary of state shall deposit fees collected by the
3 6 office of the secretary of state pursuant to section 554.9525
3 7 in the general fund of the state.
3 8 2. Subsection 1 shall not apply to any of the following:
3 9 a. Fees collected by the office of the secretary of state
3 10 from the filing of termination statements.
3 11 b. The first $471,811 collected each fiscal year in fees
3 12 other than fees collected from the filing of termination
3 13 statements by the office.
3 14 DIVISION III
3 15 EFFECTIVE AND APPLICABILITY DATES
3 16 Sec. 9. EFFECTIVE DATE. This Act, being deemed of
3 17 immediate importance, takes effect upon enactment.
3 18 Sec. 10. RETROACTIVE APPLICABILITY. This Act applies
3 19 retroactively to and after July 1, 2002.
3 20 EXPLANATION
3 21 This bill amends a number of provisions relating to
3 22 requirements for filing business documents.
3 23 DIVISION I == BUSINESS FILING FEES. This division amends
3 24 several provisions referring to business filings. Code
3 25 section 12.21 authorizes departments to accept credit card
3 26 payments and adjust fees in accordance with rules adopted by
3 27 the treasurer of state. The bill amends Code section
3 28 490.1622, which establishes fees required for filing biennial
3 29 reports by domestic and foreign corporations. The bill
3 30 provides a standing appropriation to the secretary of state
3 31 from the state's general fund for purposes of paying the
3 32 processing fees for payments made by credit card. Currently
3 33 biennial report filing fee rates are established by the
3 34 secretary of state's office and deposited into the general
3 35 fund of the state. The bill also provides that not more than
4 1 $5 collected by the office shall be treated as repayment
4 2 receipts and used for the operations of the office. The
4 3 division also repeals a provision enacted in House File 2627
4 4 in 2002 (2002 Iowa Acts, Second Extraordinary Session, ch.
4 5 1003) that authorizes the secretary of state's office to
4 6 refund fees paid by businesses filing documents with the
4 7 office.
4 8 DIVISION II == UNIFORM COMMERCIAL CODE. This division
4 9 amends a number of provisions revising article 9 of the
4 10 uniform commercial code (UCC) enacted in House File 2513 in
4 11 the 2000 session (2000 Iowa Acts, ch. 1149) and effective July
4 12 1, 2001. A number of provisions require a filing office,
4 13 including the secretary of state's office and county
4 14 recorders, to file records and communicate a refusal to the
4 15 filer within two business days after the office receives the
4 16 record. The bill extends that period to 10 business days. It
4 17 also extends the period for communicating a request for
4 18 information from 10 to 11 days.
4 19 The division also provides that certain UCC fees collected
4 20 by the secretary of state for filing documents are to be
4 21 treated as repayment receipts and used for the operation of
4 22 the office. The division also provides that for each fiscal
4 23 year for the period beginning July 1, 2002, and ending June
4 24 30, 2004, the office must deposit fees collected by the office
4 25 into the general fund of the state. There are two exceptions:
4 26 The office is not required to deposit fees for the filing of
4 27 termination statements and the office is authorized to retain
4 28 other fees equal to $471,811.
4 29 DIVISION III == EFFECTIVE AND APPLICABILITY DATES. This
4 30 division provides that the bill takes effect upon enactment
4 31 and is retroactively applicable to July 1, 2002.
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