ACCOUNTABILITY FOR PUBLICLY FUNDED NONPROFITS.

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View NCGA Bill Details(link is external)2011-2012 Session
House Bill 572 (Public) Filed Wednesday, March 30, 2011
TO PROVIDE GREATER ACCOUNTABILITY FOR NONPROFIT ENTITIES THAT RECEIVE PUBLIC FUNDING.
Intro. by Justice, Sager, Stevens, West.
Status: Ch. SL 2012-169 (House Action) (Jul 12 2012)

Bill History:

H 572/S.L. 2012-169

Bill Summaries:

  • Bill H 572/SL 2012-169 (2011-2012)
    Summary date: Jul 17 2012 - View Summary

    AN ACT TO PROVIDE GREATER ACCOUNTABILITY FOR NONPROFIT ENTITIES THAT RECEIVE PUBLIC FUNDING. Summarized in Daily Bulletin 3/31/11, 5/16/11, 5/19/11, and 6/28/12. Enacted July 12, 2012. Effective October 1, 2012.

    Nonprofits
  • Bill H 572 (2011-2012)
    Summary date: Jun 28 2012 - View Summary

    Senate committee substitute makes the following change to 3rd edition. Changes the effective date to October 1, 2012 (was, October 1, 2011).

    Nonprofits
  • Bill H 572 (2011-2012)
    Summary date: Jun 28 2012 - View Summary

    Senate amendments make the following changes to 4th edition. Amendment #1 makes technical and clarifying changes. Amendment #2 makes the financial statement requirement in proposed GS 55A-16-24 apply to corporations receiving over $5,000 of public funding in a year (previously applied to corporations receiving any amount).

    Nonprofits
  • Bill H 572 (2011-2012)
    Summary date: May 19 2011 - View Summary

    House amendments make the following changes to 2nd edition. Amendment #1 amends proposed GS 55A-16-24 by including corporations that receive in-kind donations within the scope of the act. Requires a corporation to provide a link on its public website to the website maintained by the other public entity if the corporation complies with the statute by posting the required materials on a website established by another entity. Provides the following exceptions to the reporting requirement: (1) a corporation required to report to the North Carolina Medical Care Commission of the Department of Health and Human Services; (2) a corporation required to report to the Local Government Commission of the Department of State Treasurer; and (3) a private college that meets the definition of institution under GS 116-22 and is required to report to the state under GS 143C-6-23. Requires these excepted corporations to provide certain information on their websites. Makes a technical change.
    Amendment #2 amends proposed GS 55A-16-24 to clarify that an entity may not charge a fee (was, may not charge a fee or require website registration) to access the information that the entity posts for the nonprofit corporation.

    Nonprofits
  • Bill H 572 (2011-2012)
    Summary date: May 16 2011 - View Summary

    House committee substitute makes the following changes to 1st edition. Amends proposed GS 55A-16-24 to clarify that a corporation receiving any public grants or loans from a local government, the state, or the federal government must provide annual financial statements to any member of the public, and must provide the most recently completed and filed Internal Revenue Service Form 990, excepting information not required for public disclosure under federal law. Provides that in addition to maintaining these documents on its public website, a corporation may comply with these provisions by having such materials posted on a website established and maintained by another entity, as long as the entity does not charge a fee or require website registration to access the information.

    Nonprofits
  • Bill H 572 (2011-2012)
    Summary date: Mar 31 2011 - View Summary

    Enacts new GS 55A-16-24 to provide that a nonprofit corporation that receives any public grants or loans from a local government, the state, or the federal government must provide to any member of the public, on written demand, (1) its latest financial statements, which must be substantively similar to reports required by GS 55A-16-20 and also contain details about the amount of public funds received and how they were used and (2) a copy of its most recent Internal Revenue Service Form 990. A corporation may comply by maintaining these documents on its public Web site. Effective October 1, 2011, and applicable to nonprofit corporations receiving public funding in the form of grants or loans on or after that date.

    Nonprofits
    GS 55A
View: All Summaries for Bill