California — Assembly Bill 2503, effective January 1, 2019, amends the Corporations Code by subjecting domestic corporations and LLCs to administrative dissolution or administrative cancellation under specified circumstances.

Minnesota — House File 2764, effective January 1, 2019, amends provisions governing conversions of limited partnerships and partnerships and adds provisions for domestications of limited partnerships and partnerships.

Rhode Island — House Bill 8171, effective December 31, 2018, enacts a number of technical amendments to the entity laws.

Rhode Island — House Bill 7562 and Senate Bill 2320, effective January 1, 2019, amend the LLC law by increasing the maximum delayed effective date period for filed documents from 30 days to 90 days after filing.

Illinois — House Bill 4578, effective January 1, 2019, amends the Business Corporation Act and General Not For Profit Corporation Act to remove a prohibition on the use of the word “Olympic” and similar words in corporate names and amends the Limited Liability Company Act regarding the penalty associated with curing a default.

On October 1, Delaware’s Certification of Adoption of Transparency and Sustainability Standards Act became effective. This Act was enacted by House Bill 310 and is codified at Title 6, Secs. 5000E through 5008E of the Delaware Code. H.B.

Idaho — House Bill 361, effective October 31, 2018, amends the Business Organizations Code to repeal the fee for filing a statement of termination and to provide that a surcharge of $20 will be imposed for filing any form that is not generated by the secretary of state's electronic filing system and that requires manual data entry.

Federal — The Investment Opportunity Act, part of the Tax Cuts and Jobs Act, enacted new Secs. 1400Z-1 and 1400Z-2 of the Internal Revenue Code establishing a new federal program providing for investments in economically distressed communities called Qualified Opportunity Zones (QOZs). These investments are made by investment vehicles called Qualified Opportunity Funds (QOFs).

Oregon — The Oregon Secretary of State issued an alert stating that many Oregon businesses have reported receiving questionable solicitations entitled "2018 - Annual Report Instruction Form" or “State Annual Report Renewal Notice.” These forms were not sent by the Secretary of State Corporation Division and offer to file your Annual Report for an extra “processing fee,” which is not required by Oregon law.

Washington — Senate Bill 6175, effective July 1, 2018, enacts the Washington Uniform Common Interest Ownership Act, governing the formation, management, and termination of common interest communities (such as condominiums, cooperatives, and planned communities). The WUCIOA applies to CICs formed on or after July 1, 2018. Pre-existing CICs can vote to amend their governing documents to achieve any result permitted by the Act.