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Sponsors
Senator · Senate District 61
No co-sponsors yet.
History
- Referred to corporations, authorities and commissions
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to the effectiveness of certain provisions of law related to reform of charitable organizations
In Assembly Committee · Corporations, Authorities And Commissions · Sponsor James F. Brennan
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7341
Title of bill
An act to amend chapter 549 of the laws of 2013 amending the executive law and other laws relating to reform of charitable organizations, in relation to the effectiveness of certain provisions of such chapter
Purpose or general idea of bill
To extend certain sections of chapter 549 of the laws of 2013 to March 31, 2015.
Summary of specific provisions
Section one - of the bill amends section 132 of chapter 549 of the laws of 2013 to extend the effective date of sections 72, 73, 74, 75 and 130 of said chapter from January 1, 2015 to March 31, 2015.
Section two - provides that the Act will take effect immediately.
Justification
It has come to the attention of the state legislature that a number of NYS nonprofits, especially the smaller ones, need additional time to complete their analysis of the Non-profit Revitalization Act of 2013 (Chapter 549) and make the necessary changes to their bylaws and other legal documents to conform with the provisions of chapter 549. Nonprofits have also asked for additional time to implement the provisions relating to directors; such as independent directors and related party transactions. Questions have also been raised whether the Act should apply to trusts.
This bill would allow additional time for all nonprofits in this state to comply with chapter 549, and for the legislature to study the law's application to trusts.
Prior legislative history
New bill
Fiscal implications
None
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.