Bill Text: CA SB738 | 2023-2024 | Regular Session | Introduced

California Senate Bill 738

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Corporate Transparency Act: foreign corporations: certificate of qualification.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2024-02-01 - Returned to Secretary of Senate pursuant to Joint Rule 56. [SB738 Detail]

Download: California-2023-SB738-Introduced.html

CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Senate Bill

No. 738

Introduced by Senator Hurtado

February 17, 2023

An act relating to businesses.

LEGISLATIVE COUNSEL'S DIGEST

SB 738, as introduced, Hurtado. Secretary of State: business filings: foreign-owned shell companies.

Existing law requires specified businesses and corporations to file certain business-related information with the Secretary of State.

This bill would state the intent of the Legislature to enact legislation that requires the Secretary of State to request the beneficial owners of foreign-owned shell companies to disclose specified personal information.

Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO

The people of the State of California do enact as follows:

SECTION 1.

This act shall be known as the Corporate Transparency Act.

SEC. 2.

It is the intent of the Legislature to enact legislation that requires the Secretary of State to request the beneficial owners of foreign-owned shell companies to disclose their (1) full legal name, (2) date of birth, (3) current residential or business street address, and (4) unique identifying number from an acceptable identification document or Secretary of State identification number, if available.