Bill Summary for S 462 (2015-2016)

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Summary date: 

Jun 10 2015
S.L. 2015-122

Bill Information:

View NCGA Bill Details2015-2016 Session
Senate Bill 462 (Public) Filed Wednesday, March 25, 2015
AN ACT TO CLARIFY THAT A PUBLIC AUTHORITY MAY ESTABLISH, CONTROL, AND OPERATE A NONPROFIT CORPORATION WITH TAX EXEMPT STATUS.
Intro. by Hartsell.

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Bill summary

House committee substitute makes the following changes to the 2nd edition.

Amends the long title.

Amends the language of proposed GS 159-42.1, concerning the establishment of nonprofit corporations by public authorities, allowing a public authority to control, rather than own, a nonprofit. Also provides that the nonprofit must be created in order to further the authorized purposes of the public authority. Clarifies that such nonprofits cannot have regulatory or enforcement powers and cannot engage in partisan political activity.