OR HB2848

Nonprofit corporations receiving 75% or more of revenues from public funds must comply with Oregon open meetings law, public records law, and submit to audits by the Secretary of State or funding public body

Covered nonprofits must have gross annual revenues over $100,000 or 25+ employees, and must either perform governmental functions via contract or set policies controlling public fund expenditures

Proposed annual budgets must be posted on the corporation's website at least 30 days before adoption, identifying public fund sources and planned expenditures

The public funding threshold decreases over 15 years: 75% initially (January 1, 2026), then 50% (July 1, 2032), then 25% (January 1, 2041), with exemptions available for corporations below 25%

Noncompliant corporations face repayment demands, 10-year denial of public funds, and potential administrative dissolution; board members and officers of dissolved corporations are barred from serving on other nonprofit boards for at least 10 years