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MS HB1211
Bill
Status
1/30/2018
Primary Sponsor
Cory Wilson
Click for details
AI Summary
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Requires nonprofit organizations receiving 50% or more public funding (federal, state, or local) annually to register with the Secretary of State and pay a $50 filing fee.
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Registration statements must include organization details, officer information, funding sources, tax-exempt status, and financial reports; organizations receiving over $25,000 in contributions must file audited financial statements signed by a certified public accountant.
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Secretary of State may deny, suspend, or revoke registration for incomplete applications, false statements, violations, felony convictions involving fraud or misuse of funds, or disqualifying criminal history involving crimes against children.
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Violations include misrepresenting the purpose of public monies, making false statements on required documents, failing to maintain records, engaging in fraud, and employing individuals with relevant criminal convictions in positions with fund access.
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Penalties range from $2,000 fine or up to one year in jail for knowing violations to up to $25,000 fine or five years imprisonment for fraud-related schemes using false pretenses during solicitation.
Legislative Description
Nonprofit organizations; regulate those whose funding is fifty percent or more public monies.
Last Action
Died In Committee
1/30/2018