This bill extends the deadline for The Kane-Barrengos Foundation to file required reports for the years 1998 through 2025. The new deadline is set for December 31, 2025. To avoid forfeiture or revocation of its charter, the foundation must file the overdue reports and pay the necessary filing fees to the Secretary of State. Additionally, the foundation is required to pay a sum determined by the Attorney General as a compromise for any penalties incurred due to the failure to file these reports.

Upon fulfilling these conditions, the forfeiture or revocation of the foundation's charter will be vacated, allowing it to regain all privileges, benefits, powers, and responsibilities as if the charter had never been forfeited. The act will take effect immediately upon passage.