Bill Sponsors
Representative Brandon C. Potter
Committee
House Corporations
Summary
Select
This bill allows a specific corporation named "Los Toros Band, Inc." to have its corporate charter reinstated. To do this, the corporation must file any missing tax returns, pay all owed taxes, and pay any required fees to the Secretary of State by December 31, 2026. Once these requirements are met and a certificate from the tax administrator is filed, the previous revocation of its charter will be canceled, and the corporation will regain all of its standard rights, privileges, and responsibilities.
Sponsor
Analysis
Pros for Progressives
- Ensures the collection of unpaid taxes and fees, which can then be utilized to fund generous public services and social safety net programs.
- Provides a pathway for a musical or cultural organization to resume operations, potentially supporting community welfare, arts, and cultural diversity.
- Offers a fair opportunity for a small entity to rectify administrative mistakes, promoting systemic fairness over permanent punitive measures.
Cons for Progressives
- Grants special legislative privilege to a single private corporation, which may be viewed as inequitable treatment compared to ordinary individuals who face strict penalties.
- Expends valuable legislative time and state resources on a private entity rather than focusing on broad systemic reforms or social justice initiatives.
- Allows a corporation to easily reverse its non-compliance, which could be seen as undermining strict corporate accountability and regulatory enforcement.
Pros for Conservatives
- Promotes corporate freedom and private enterprise by allowing a business to restore its legal standing and resume operations.
- Generates previously owed state revenue through the collection of back taxes and fees without the need to raise taxes on other citizens.
- Removes restrictive government barriers on a private entity, allowing it to function normally once its financial obligations are satisfied.
Cons for Conservatives
- Represents unnecessary government intervention by using the legislative process to grant a special carve-out for a single private corporation.
- Shows disrespect for the rule of law by accommodating a corporation that failed to meet its legal tax and reporting obligations on time.
- Sets a negative precedent that businesses can ignore standard administrative rules and tax deadlines, relying on special legislation to bail them out.
Constitutional Concerns
None Likely.
Impact Overview
Groups Affected
- Los Toros Band, Inc.
- Secretary of State
- Tax Administrator
Towns Affected
All
Cost to Taxpayers
None
Revenue Generated
Amount unknown
BillBuddy Impact Ratings
Importance
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Freedom Impact
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Public Services
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Regulatory
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Clarity of Bill Language
How clear the language of the bill is. Higher ambiguity equals a lower score.
Enforcement Provisions
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Environmental Impact
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Privacy Impact
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Bill Status
Current Status
Held
Comm Passed
Floor Passed
Law
History
• 05/06/2026 Introduced, referred to House Corporations
• 05/08/2026 Scheduled for hearing and/or consideration (05/12/2026)
• 05/12/2026 Committee recommends passage
• 05/08/2026 Scheduled for hearing and/or consideration (05/12/2026)
• 05/12/2026 Committee recommends passage
Bill Text
SECTION 1. If, on or before December 31, 2026, Los Toros Band, Inc., incorporated on September 3, 1999, shall file any corporation tax returns as may be required, and shall pay all taxes which were due or should have been due to the state, and shall file with the secretary of state a certificate signed by the tax administrator that such tax returns and such taxes have been paid; and shall also file all reports and pay all fees which may be required by the secretary of state, then the revocation of the charter of said corporation shall thereupon to wit, upon the filing of said certificate, said reports and the payment of said fees, be vacated and said corporation shall thereupon be entitled to all privileges, benefits and powers and subject to all of the same duties and liabilities as though no revocation of its charter had taken place.
SECTION 2. This act shall take effect upon passage.
SECTION 2. This act shall take effect upon passage.