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