AB628: Bill Text

LRB-3493/1

CTS:jld:pg

2007 - 2008 LEGISLATURE

2007 Assembly BILL 628

December 19, 2007 - Introduced by Representative Ziegelbauer. Referred to Committee on State Affairs.

AB628,1,3 An Act to amend 440.42 (3) (a) (intro.) of the statutes; relating to: annual reports filed with the Department of Regulation and Licensing by certain charitable organizations.

Analysis by the Legislative Reference Bureau

Generally, under current law, certain charitable organizations must register with the Department of Regulation and Licensing (DRL). Certain registered charitable organizations that receive more than $5,000 in charitable contributions in a fiscal year must submit to DRL an annual report containing information specified under current law. These annual reports are currently due not more than six months after the end of a charitable organization's fiscal year. This bill extends the current deadline to seven months after the end of a charitable organization's fiscal year.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB628, s. 1 Section 1. 440.42 (3) (a) (intro.) of the statutes is amended to read:

AB628,2,6 440.42 (3) (a) (intro.) Except as provided in pars. (am) and (b) and in rules promulgated under sub. (8), a charitable organization that received contributions in excess of $5,000 during its most recently completed fiscal year shall file with the department an annual financial report for the charitable organization's most recently completed fiscal year. The department shall prescribe the form of the report and shall prescribe standards for its completion. The annual financial report shall be filed within 6 7 months after the end of that fiscal year and shall include all of the following:

AB628,2,7 (End)