Bill
HF 396
Would authorize banks to use Secretary of State filing services (preclearance/expedited) with added surcharges, but the bill was withdrawn and not enacted.
HF 396 — Summary
Bill information
- Bill Number: HF 396
- Title: A bill for an act relating to bank utilization of filing services offered by the secretary of state
- Status: Withdrawn
- Introduced: February 13, 2025
- Subject: Banks, Financial Institutions, Secretary of State
- Legislative actions:
- February 13, 2025: Introduced (HF 396)
- March 11, 2025: SF 166 substituted
- March 11, 2025: Withdrawn
Overview and purpose
- HF 396 would authorize banks to use certain filing services offered by the secretary of state (SoS) that are already available to other filers under Code chapter 524, including preclearance and expedited filing.
- The bill ties these extra services to a surcharge collected under the state’s filing-fee framework (chapter 9, subchapter II).
Key provisions
- New Section 524.2002 (Secretary of State — extra services — surcharge): When a filer requests an extra filing service under Chapter 524, the SoS must provide the service and assess a surcharge as provided in Chapter 9, Subchapter II.
- New language in Section 9.11, subsection 1, adding a new paragraph (j): This paragraph references Chapter 524, including provisions as provided in Section 524.303, to the scope of the extra services and their use by filers, including banks.
- Policy purpose stated in explanation: The bill relates to services provided to filers under Chapter 524 and would permit banks to use preclearance and expedited filing services offered by the SoS.
Affected parties
- Banks and other financial institutions that file documents under Code Chapter 524.
- The Secretary of State’s office, which would administer and charge surcharges for the extra services.
- Other filers who might access the same SoS services (as the bill references existing Chapter 524 procedures and the added services).
Procedural and timeline aspects
- Introduced February 13, 2025 and placed on the calendar.
- SF 166 substituted HF 396 on March 11, 2025, and HF 396 was withdrawn on the same date.
- As withdrawn, the bill did not advance to enactment and no new statutes would take effect.
Financial implications
- The SoS would assess surcharges for the extra services under Chapter 9, Subchapter II.
- Specific surcharge amounts are not presented in the text provided; they would be governed by existing statutory provisions in Chapter 9, Subchapter II.
Impact considerations
- Potential benefits: Banks could obtain faster processing and improved compliance through preclearance and expedited filings; potential efficiency gains for filers.
- Potential costs or concerns: Banks would incur additional surcharges; administrative changes might be required for SoS processing; applicability to non-bank filers under Chapter 524 is implied but not restricted by the bill.
Notes
- The withdrawal means HF 396 did not become law. The concept remains tied to enhancing bank access to existing SoS filing services and associated surcharges.
Compiled from official sources — confirm details with the bill’s official record.
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