The bill addresses the management and compliance of domestic and foreign Limited Liability Companies (LLCs) and corporations within the jurisdiction of the Corporations Division. It highlights the notification process for delinquent annual reports, indicating that 38,821 LLCs and 15,624 corporations were informed of their non-compliance, resulting in the filing of 36,485 annual reports and generating significant revenue of $14,241,725. The bill also notes the dissolution or revocation of 25,920 LLCs and 11,071 corporations as of December 31, 2024, with additional filings leading to further revenue generation.

Furthermore, as of March 1, 2025, the Division has notified 21,596 non-profit corporations regarding their delinquent filings, with 6,074 reports filed thus far, contributing an additional $91,110 in revenue. The total revenue generated from the dissolution and revocation projects for the fiscal year 2025 amounts to $17,256,710. This bill emphasizes the importance of compliance and the financial implications of maintaining proper filings for corporations and LLCs.