Senate Study Bill 3139 SENATE/HOUSE FILE BY (PROPOSED ATTORNEY GENERAL BILL) Passed Senate, Date Passed House, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act providing for the oversight of persons organized or doing 2 business in this state on a nonprofit basis, providing for 3 fees, and making an appropriation. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 5288DP 82 6 da/nh/14 PAG LIN 1 1 Section 1. NEW SECTION. 13.41 CHARITIES OVERSIGHT FUND 1 2 == APPROPRIATION. 1 3 A charities oversight fund is created in the state 1 4 treasury. 1 5 1. The fund shall be administered by the treasurer of 1 6 state upon direction of the attorney general. The fund shall 1 7 include all of the following: 1 8 a. Moneys collected by the secretary of state for the 1 9 filing of biennial reports by domestic nonprofit corporations 1 10 as provided in section 504.1613. 1 11 b. Moneys appropriated to the fund and any other moneys 1 12 available to and obtained or accepted by the treasurer of 1 13 state for placement in the fund. 1 14 2. a. Notwithstanding section 12C.7, interest or earnings 1 15 on moneys in the fund shall be credited to the fund. 1 16 b. Notwithstanding section 8.33, moneys in the fund that 1 17 remain unencumbered or unobligated at the end of the fiscal 1 18 year shall not revert, but shall remain available for the same 1 19 purpose in the succeeding fiscal year. 1 20 3. The moneys in the fund are appropriated to the attorney 1 21 general exclusively for the purposes of providing oversight, 1 22 including regulation, of persons organized or doing business 1 23 in this state on a nonprofit basis, including domestic 1 24 nonprofit corporations and domestic charitable trusts. 1 25 Sec. 2. Section 504.1613, subsection 4, paragraph b, Code 1 26 2007, is amended to read as follows: 1 27 b. A filing fee for the biennial report shall be assessed 1 28 and collected by the secretary of state. 1 29 (a) For a domestic corporation, the amount of the fee 1 30 shall be determined by the secretary of state after 1 31 consultation with the attorney general. The amount of the fee 1 32 shall be based on the revenue required to provide oversight of 1 33 persons organized or doing business in this state on a 1 34 nonprofit basis as provided in section 13.41 after considering 1 35 the balance in the charities oversight fund as provided in 2 1 that section. The fees shall be deposited into the fund. 2 2 (b) For a foreign corporation, the amount of the fee shall 2 3 be determined by the secretary of state. The fees shall be 2 4 deposited in the general fund of the state. 2 5 EXPLANATION 2 6 This bill creates a charities oversight fund and provides 2 7 for an appropriation from the fund to the attorney general to 2 8 support the oversight, including regulation, of persons 2 9 organized or doing business in this state on a nonprofit basis 2 10 (domestic nonprofit corporations and domestic charitable 2 11 trusts). The fund is supported by moneys collected by the 2 12 secretary of state from domestic nonprofit corporations who 2 13 must file a report each odd=numbered year with the secretary. 2 14 The amount of the fee, determined by the secretary in 2 15 consultation with the attorney general, is based on the amount 2 16 necessary to support the attorney general's efforts. 2 17 LSB 5288DP 82 2 18 da/nh/14.1