Bill > HB2848

This bill establishes new transparency and accountability requirements for nonprofit corporations that receive significant public funds. Specifically, the bill applies to corporations with annual revenues over $100,000 or more than 25 employees that receive 75% or more of their budget from public funds or perform governmental functions. These corporations will be required to hold open board meetings in accordance with public meetings laws, post their proposed annual budget on their public website at least 30 days before adoption, submit to financial audits by the Secretary of State or funding public body, and make their records available for public inspection (with limited personal information redaction). Additionally, board members, officers, and employees of these corporations will be subject to government ethics standards. The bill introduces a graduated compliance approach, initially setting the public funds threshold at 75%, which will be reduced to 50% in 2032 and further to 25% in 2041. Corporations receiving less than 25% public funds can request an exemption from these requirements. Non-compliant corporations may face penalties including repayment demands, denial of future public funds, and potential administrative dissolution. The bill takes effect immediately, declaring an emergency to preserve public peace, health, and safety.

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2848