LRB-1649/1
TNF:jrd:km
1995 - 1996 LEGISLATURE
July 12, 1995 - Introduced by Representatives Duff, Kreibich, Goetsch, Albers
and Owens, cosponsored by Senators Farrow, Darling and Rosenzweig.
Referred to Committee on Education.
AB484,1,3
1An Act to amend 440.42 (5) (a) 5. of the statutes;
relating to: exempting certain
2educational institutions and their authorized charitable foundations from
3annual registration for the solicitation of funds for charitable purposes.
Analysis by the Legislative Reference Bureau
Under current law, with certain exceptions, a charitable organization that
solicits contributions in this state must register with the department of regulation
and licensing (DORL) and file an annual financial report or audited financial
statement with DORL. Educational institutions and their authorized charitable
foundations that solicit contributions only from their students and other specified
groups (alumni, faculty, trustees, corporations, foundations, patients and the
families of students) are not required to register with DORL.
This bill extends the exemption from registration with DORL to regionally
accredited, nonprofit, postsecondary educational institutions and their authorized
charitable foundations, regardless from whom contributions are solicited from by the
charitable foundations.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB484, s. 1
4Section
1. 440.42 (5) (a) 5. of the statutes is amended to read:
AB484,2,45
440.42
(5) (a) 5.
An A nonprofit, postsecondary educational institution
6accredited by a regional accrediting agency or association approved under 20 USC
11099b, and its authorized charitable foundations, or an educational institution and
2its authorized charitable foundations which solicit contributions only from its
3students and their families, alumni, faculty, trustees, corporations, foundations and
4patients.
