HB992 - Solicitation of Funds from the Public

• Creates new registration and reporting requirements for platform charities, requiring them to register with the department before soliciting funds and file annual financial reports detailing donations, fees, and recipient organizations.

• Consolidates duplicate registration and fee requirements for charitable fundraising platforms and platform charities, eliminating separate registration pathways while maintaining oversight through a single $250 registration fee and annual renewal.

• Establishes mandatory disclosures platform charities must provide donors before completing donations, including identification of who receives funds, maximum distribution timelines, all fees charged, and tax deductibility status.

• Requires platform charities to obtain written consent from recipient organizations before soliciting on their behalf and prohibit fund diversification by requiring donations be held in separate accounts and promptly distributed with fee accounting.

• Clarifies definitions to distinguish between commercial co-venturers (six or fewer recipient organizations annually) and charitable fundraising platforms, with persons meeting both definitions treated as commercial co-venturers under specified conditions.