Bill > A3997

Introduced Session

This bill concerns certain annual filings by nonprofit corporations and charitable organizations. The bill requires the State Treasurer to allow any annual report for a nonprofit corporation that is designated to be filed while Executive Order 103 of 2020 remains in effect, or up to 180 days after its conclusion, to be filed up to 180 days after the conclusion of that executive order, without requiring the corporation to pay any penalty or additional fee other than the annual filing fee. The bill also provides that the State Treasurer may not require any corporation to pay its filing fee in advance of the date the annual report is filed. The bill requires the Attorney General to allow any annual filing of a renewal statement and financial report for a charitable organization that is scheduled to be filed while Executive Order 103 of 2020 remains in effect, or up to 180 days after its conclusion, to be filed up to 180 days after the conclusion of that executive order, without requiring the organization to pay any penalty or additional fee other than the annual filing fee. The bill also provides that the Attorney General may not require any organization to pay a filing fee in advance of the date the renewal statement and financial report are filed. This bill also changes the threshold at which a charitable organization must submit certain audited financial statements and management letters, from gross revenue in excess of $250,000, or any greater amount that the Attorney General may prescribe by regulation, to gross revenue in excess of $1,000,000, or any greater amount that the Attorney General may prescribe by regulation.

Committee Categories

Yvonne Lopez (D)*,  Roy Freiman (D),  Angela Mcknight (D),  Carol Murphy (D),  Verlina Reynolds-Jackson (D), 

Introduced, Referred to Assembly Appropriations Committee (on 05/01/2020)