House File 2275 - Introduced HOUSE FILE 2275 BY COMMITTEE ON COMMERCE (SUCCESSOR TO HSB 529) 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 5243HV (2) 84 da/nh

H.F. 2275 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 27 or any part of this section, it shall adopt all rules that 28 the secretary of state determines are necessary for its 29 administration. 30 DIVISION II 31 COORDINATING PROVISIONS 32 Sec. 2. Section 486A.1202, Code 2011, is amended by adding 33 the following new subsection: 34 NEW SUBSECTION . 4. The secretary of state may reduce or 35 -1- LSB 5243HV (2) 84 da/nh 1/ 3

H.F. 2275 waive any fee that is otherwise required to be collected by the 1 secretary of state under this chapter, if the fee is to be paid 2 by a person as a direct result of organizing an Iowa start-up 3 business as provided in section 9.4A. 4 Sec. 3. Section 488.1206, Code 2011, is amended by adding 5 the following new subsection: 6 NEW SUBSECTION . 4. The secretary of state may reduce or 7 waive any fee that is otherwise required to be collected by the 8 secretary of state under this chapter, if the fee is to be paid 9 by a person as a direct result of organizing an Iowa start-up 10 business as provided in section 9.4A. 11 Sec. 4. Section 489.117, Code 2011, is amended by adding the 12 following new subsection: 13 NEW SUBSECTION . 3A. The secretary of state may reduce or 14 waive any fee that is otherwise required to be collected by the 15 secretary of state under this chapter, if the fee is to be paid 16 by a person as a direct result of organizing an Iowa start-up 17 business as provided in section 9.4A. 18 Sec. 5. Section 490.122, Code Supplement 2011, is amended by 19 adding the following new subsection: 20 NEW SUBSECTION . 4. The secretary of state may reduce or 21 waive any fee that is otherwise required to be collected by the 22 secretary of state under this chapter, if the fee is to be paid 23 by a person as a direct result of organizing an Iowa start-up 24 business as provided in section 9.4A. 25 Sec. 6. Section 501.105, Code 2011, is amended by adding the 26 following new subsection: 27 NEW SUBSECTION . 7. The secretary of state may reduce or 28 waive any fee that is otherwise required to be collected by the 29 secretary of state under this chapter, if the fee is to be paid 30 by a person as a direct result of organizing an Iowa start-up 31 business as provided in section 9.4A. 32 Sec. 7. Section 501A.205, Code 2011, is amended by adding 33 the following new subsection: 34 NEW SUBSECTION . 4. The secretary of state may reduce or 35 -2- LSB 5243HV (2) 84 da/nh 2/ 3

H.F. 2275 waive any fee that is otherwise required to be collected by the 1 secretary of state under this chapter, if the fee is to be paid 2 by a person as a direct result of organizing an Iowa start-up 3 business as provided in section 9.4A. 4 Sec. 8. Section 504.113, Code Supplement 2011, is amended by 5 adding the following new subsection: 6 NEW SUBSECTION . 4. The secretary of state may reduce or 7 waive any fee that is otherwise required to be collected by the 8 secretary of state under this chapter, if the fee is to be paid 9 by a person as a direct result of organizing an Iowa start-up 10 business as provided in section 9.4A. 11 EXPLANATION 12 This bill authorizes the secretary of state to provide for an 13 Iowa start-up business initiative for the benefit of domestic 14 business entities newly organized under the laws of this state 15 according to rules adopted by the secretary of state. Under 16 the initiative, the secretary of state may designate a month 17 as “Iowa start a business month”. The secretary of state may 18 reduce or waive any fee required to be paid by a person as a 19 direct result of organizing an Iowa start-up business during 20 that month (e.g., filing articles of incorporation for an Iowa 21 corporation). The secretary of state is authorized to adopt 22 rules to administer the initiative. 23 -3- LSB 5243HV (2) 84 da/nh 3/ 3