Bill > HB1197

This bill amends the Solicitation for Charity Act in Illinois. The key provisions include: 1. Expanding the definition of "reviewed financial statements" to require charitable organizations with contributions between $300,000 and $500,000 to submit reviewed financial statements along with their annual reports to the Attorney General. 2. Increasing the contribution threshold for filing a full annual report from $300,000 to $500,000. 3. Allowing the Attorney General to enter into binding nonjudicial settlement agreements with organizations that fail to comply with the annual reporting requirements. 4. Making the changes to the annual reporting requirements inoperative on and after January 1, 2029. 5. Setting an effective date of January 1, 2024 for the bill. The bill aims to update the reporting requirements for charitable organizations in Illinois, providing more transparency and oversight, while also including a sunset provision for the new requirements.

Health and Social Services

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1197&GAID=17&DocTypeID=HB&SessionID=112&GA=103