NC H732

Allows charitable or religious corporations to merge with limited liability companies whose sole member is a charitable or religious corporation, provided the LLC is disregarded for income tax purposes and both the owner and LLC qualify for or would qualify for section 501(c)(3) tax exemption status.

Adds nonprofit associations to the definition of "business entity" eligible to merge under the Nonprofit Corporation Act's merger provisions.

Increases the charitable solicitation licensing exemption threshold from $25,000 to $50,000 in annual contributions for organizations that do not provide compensation to officers, trustees, organizers, incorporators, fundraisers, or solicitors.

Allows charitable organizations to demonstrate they meet the $50,000 contribution threshold by submitting IRS Form 990 or Form 990-EZ, their governing board-approved budget, a Department financial form, or other evidence satisfactory to the Department.

Becomes effective upon enactment.