Providing for biennial reporting instead of annual reporting for business organizations.

Summary

The bill lets corporations, limited partnerships, LLCs and cooperative associations choose to submit biennial reports to the Secretary of State and pay a $50 fee every two years rather than the current $25 yearly fee. It keeps the same filing requirements but changes the timing and fee structure, aiming to reduce administrative burden. The change applies to both domestic and foreign entities that elect the biennial option.

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