HB 6312 Summary

• Amends the Business Corporation Act to require domestic and foreign corporations to file annual reports with the state administrator by May 15 each year on an approved form.

• Modifies reporting language to require reports "must" be filed (changing from "shall") and updates references from "its" to "the corporation's" throughout the statute.

• Requires benefit corporations to include their annual benefit report required under section 961 with their annual report filing.

• Exempts corporations formed or authorized to do business between January 1 and May 16 of any calendar year from filing the annual report for that year.

• Takes effect 90 days after enactment, but only if House Bills 6309, 6310, and 6311 are also enacted into law.