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Secretary of State cites record business growth, explains large proprietary fund balance and fee waivers
Summary
The Secretary of State’s chief deputy told the Section A Subcommittee the office is not requesting new appropriations, reported record business filings, described a large proprietary net position and cash balance used to cover cyclical costs, and confirmed several fee waivers including the 2025 annual report fee.
The Secretary of State’s office told the Section A Subcommittee on Appropriations on Wednesday that it is not seeking change packages for the 2027 biennium and outlined why its proprietary fund balance has grown.
Angela Nunn, chief deputy to Secretary Kristy Jacobson, said the office saw record new-business filings in 2024 — “over 60,000 new businesses” — and that the office has used operational efficiencies and fee reductions to lower costs for filers. She also said the office’s 2025 annual-report filing fees were waived and reiterated the agency is considering additional fee-waiver proposals for the coming biennium.
Budget staff briefed the committee that the Secretary of State’s non-budgeted…
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