Relating to nonprofit corporations that receive public funds; declaring an emergency.
Catchline/Summary:
Requires nonprofit corporations that meet certain requirements, including a receipt of public funds, to comply with open meetings law and public records law, to post a copy of the corporation's proposed annual budget to the corporation's public website and to submit to and cooperate with an audit. Digest: Tells not for profit companies that get public money to obey open meetings and public records laws. Tells the companies that they must post a copy of the budget they expect to adopt on their websites. Tells the companies that they must agree to and cooperate with audits. Says that the company's directors, officers and employees must comply with government ethics standards. Takes effect on passage. (Flesch Readability Score: 60.1).
Requires nonprofit corporations that meet certain requirements, including a receipt of public funds, to comply with open meetings law and public records law, to post a copy of the corporation's proposed annual budget to the corporation's public website and to submit to and cooperate with an audit. Subjects members of a corporation's board of directors and officers and employees of a corporation to government ethics standards.
Applies the provisions of the Act to corporations over a 15-year period, with required compliance during the period depending on the proportion of the budget or revenues of the corporation that comes from public funds.
Declares an emergency, effective on passage.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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