Secretary of State: new businesses: filing fees.

Existing law imposes various filing fees upon the formation of a new business in California, including for a corporation, limited liability company, or limited partnership. Existing law requires the Secretary of State to collect certain business fees. Under existing law, all fees collected by the Secretary of State's office pursuant to various codes, including, among others, the Business and Professions Code and the Corporations Code, are paid into the Secretary of State's Business Fees Fund. Moneys deposited into that fund are to be used to support the programs from which those fees are collected, upon appropriation in the annual Budget Act, as prescribed. This bill, beginning January 1, 2023, and until January 1, 2024, would require the Secretary of State to waive the filing fees for the formation of a new business entity in California, as described, on a one-time basis, in order to encourage business growth in California. The bill would repeal these provisions on July 1, 2024.