The bill extends the deadline for The Kane-Barrengos Foundation to file required reports for the years 1998 through 2025 to December 31, 2025. To benefit from this extension, the foundation must file the overdue reports with the Secretary of State and pay the necessary filing fees. 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. Once these conditions are met, 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 forfeiture had never occurred.

The act will take effect immediately upon its passage.