HB 3508

Abstract

Requires publicly traded corporation to deliver each year to Secretary of State for filing statement that identifies corporation and provides information about corporation's income, sales, tax liabilities and other information. Provides that information in statement is public record that Secretary of State must make available to public by means of keyword searchable database accessible by Internet. Specifies date by which Secretary of State may make information available. Provides that for violation of Act Secretary of State may impose civil penalty in amount equivalent to not more than lesser of $1 million or 0.25 percent of corporation's gross sales in this state. Takes effect on 91st day following adjournment sine die.