HI HB314

Requires providers receiving funds from the Department of Health or Department of Human Services to file annual financial reports with the relevant department.

Providers must submit IRS Form 990, 990-EZ, or 990-PF if filed, or provide department-prescribed information if filing Form 990-N or not required to file with the IRS; providers filing Form 990-T must also include that form.

Reports must be electronically submitted within ten business days of IRS filing for Form 990 filers, or by the fifteenth day of the fifth month following fiscal year-end for other providers.

Imposes a late filing fee of $20 per day (capped at $1,000) for non-compliance, and requires providers to maintain fiscal records for three years available for inspection.

Requires all submitted documents to be shared with the Department of Taxation to ensure compliance with state tax requirements; exempts contracts with federally-mandated reporting requirements.