Bill > S911

This bill proposes several key provisions related to public charity executive and board of directors compensation: 1. It caps the annual compensation for any officer, director acting in an executive capacity, or senior manager of a public charity with annual gross revenues exceeding $1 million at $500,000, including salary, bonuses, incentive payments, deferred compensation, severance, loans, and vehicle leases or rentals. 2. It prohibits public charities from providing any compensation to members of their board of directors or trustees, though they may be reimbursed for expenses directly related to their duties. 3. It establishes a process for public charities to request a waiver from the compensation caps, requiring them to hold a public hearing before a commission comprised of the Secretary of the Commonwealth, Inspector General, and Attorney General. This process involves an independent audit and public review of the waiver request. 4. If a public charity is found in violation of the compensation limits without obtaining a valid waiver, it will lose its status as a public charity under Massachusetts law.

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https://malegislature.gov/Bills/190/S911