Business reporting bill heads to governor’s desk for signature

© Shutterstock

Legislation that would bring consistency to when companies doing business in Pennsylvania must file certain annual reports with the state is heading to Gov. Josh Shapiro’s desk for signature.

The legislation, H.B. 1419 sponsored by Pennsylvania State Rep. Chris Pielli (D-Chester), overhauled Title 15 (Corporations and Unincorporated Associations). The bill passed the Pennsylvania Senate on May 7 with unanimous bipartisan support. Once signed into law, the legislation will require entities and businesses registered with the Pennsylvania Department of State to file an annual report with the agency, stating their existence.

The legislation would add consistency to changes made to Title 15 by ensuring that both domestic associations and foreign associations, meaning out-of-state businesses, would have the same transitional annual reporting due date: Jan. 4, 2027.

“In order for Pennsylvania to succeed, we need to be more welcoming to businesses,” Pielli said on May 8. “For purposes of efficiency and consistency, my bill would change the requirement so all companies doing business in Pennsylvania have the same reporting date.”

“This simple change would help streamline processing, reduce confusion and ensure that all entities are given the time to adjust to new reporting requirements,” Pielli added. “By doing so, we ensure a more business-friendly Pennsylvania. This change would also be consistent with Gov. Josh Shapiro’s initiative to create a friendlier, smarter and more efficient business environment for the benefit of our economy.”