SB 157 Modifies provisions relating to business filing fees
Sponsor: Wallingford
LR Number: 0174S.07I Fiscal Notes
Committee: Small Business, Insurance and Industry
Last Action: 3/10/2015 - SCS Voted Do Pass S Small Business, Insurance and Industry Committee (0174S.08C) Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2015

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Current Bill Summary

SCS/SB 157 - This act removes filing fees relating to the formation, registration, maintenance, termination, and dissolution of cooperative marketing companies, limited liability companies, corporations, nonprofit organizations, personal corporations, cooperative companies, partnerships, limited liability partnerships, limited partnerships, telephone and telegraph companies, and trademarks and fictitious names.

The act lowers the fee for the Secretary of State to make a preclearance examination and report regarding a document from fifty dollars to twenty dollars. The fee for furnishing a certificate to corporations is also lowered from twenty dollars to five dollars.

The act permits the Secretary of State to collect a fee of five dollars in lieu of each and every fee removed as of August 28, 2015. The Secretary of State is further permitted to collect a fee of five dollars for each and every fee required under law as of August 28, 2015. The Secretary of State is required to publish a schedule of fees required as of August 1, 2015. The act further requires that such fees shall be deposited into the state treasury and credited to the Secretary of State's Technology Trust Fund account. Moreover, the act extends the sunset for certain fees to be deposited into the Technology Trust Fund from December 31, 2017 to December 31, 2021.

This act is substantially similar to HCS/HB 513 (2015) and provisions contained within HCS/SB 148 (2015).