California :: Business Entity Filings Relief Measure

PHOTO: The California State Capitol, Garee Hill, 2013
PHOTO: The California State Capitol, Garee Hill, 2013

On May 1, 2013, California Governor Jerry Brown approved Assembly Bill 113 (Chapter 3), which amended the Budget Act of 2012, effectively increasing the appropriation to the Secretary of State’s office for purposes of filings and registrations by $1,600,000—effectively increasing the 2012-13 fiscal year filings and registrations budget from $53,526,000 to $55,126,000. This increase in funds is being used to pay for overtime and temporary employees to help process business entity filings and reduce turnaround times. Back in mid-March, the wait time for formations/qualifications was hovering around six weeks, whereas today the turnaround time is around two or three weeks, depending on whether your filing is submitted via mail or hand delivered over the counter.

In addition to increasing the appropriation, the bill also requires that the Secretary of State report on a monthly basis to the Joint Legislative Budget Committee, communicating the progress in achieving those reductions.

For more on AB 113, go here.

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