Committee advances bill to allow biannual business reports, requires veteran-owned-business logotype

A Senate committee adopted a strike-and-insert amendment and voted to report House Bill 5227 to the full Senate with a recommendation that it pass.

Counsel told the committee the substitute would let corporations, limited partnerships and limited liability companies elect to file biannual reports after five years of complying with annual reporting and fee requirements. Counsel said biannual fees would be twice the annual fees and that reports would be required to include an email address for notices and filing reminders. Counsel also said the secretary of state would be permitted to charge a $5 fee and collect associated bank fees for bad electronic transfers, and that the secretary could waive administrative late fees for good cause. The bill would require the secretary of state to develop an official veteran-owned-business logotype that qualified veteran-owned businesses could use.

Counsel noted the transcript lists an effective date of July 1 but references both 2026 and 2027; counsel also said a title amendment would be required. The vice chair moved the amendment described by counsel, the committee adopted it by voice vote, and the committee voted to report the bill to the full Senate. The committee then adopted a title amendment by voice vote.

The committee recorded oral voice votes; the transcript reflects the chair declaring the ayes to have it. Counsel told the panel there was no second reference and no fiscal impact reported in committee.