AZ SB1478

Amends the articles of incorporation fee in A.R.S. § 10-122 to apply only to foreign corporations, eliminating the $50 fee for domestic corporations.

Adds a new reporting requirement (A.R.S. § 10-131) requiring the Arizona Corporation Commission to annually report to the governor and legislature on whether the articles of incorporation fee and initial articles of organization fee are contributing to business formation and their fiscal impact.

Modifies A.R.S. § 29-851 to specify that the $50 initial articles of organization fee applies only to foreign limited liability companies.

Appropriates $3,000,000 from the state general fund in fiscal year 2016-2017 to the Arizona Corporation Commission for processing business entity filings under titles 10 and 29 of the Arizona Revised Statutes.