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AR SB484
Bill
Status
4/11/2023
Primary Sponsor
Clarke Tucker
Click for details
AI Summary
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Amends Arkansas Code § 4-28-403(b) to clarify the definition of "contribution" for charitable organizations subject to audited financial statement requirements.
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Excludes bequests to charitable organizations received from a decedent's estate from the definition of "contribution."
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Excludes testamentary distributions to charitable organizations received from a trust from the definition of "contribution."
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Modifies the contribution threshold calculation by removing inherited funds from the organizations' reported contributions.
Legislative Description
To Modify The Law Concerning Charitable Organizations; To Clarify Contributions Of Charitable Organizations; And To Exclude Certain Bequests And Testamentary Distributions From Trusts From Contributions.
Last Action
Notification that SB484 is now Act 708
4/11/2023