202.12 (1) (b) 1m. Pays to the department the The registration fee determined by the department under s. 202.08 202.041.

163,59 Section 59. 202.12 (1) (c) and (d) of the statutes are repealed.

163,60 Section 60. 202.12 (1) (e) of the statutes is created to read:

202.12 (1) (e) All charitable organization registrations expire on July 31 of each year.

163,61 Section 61. 202.12 (2) of the statutes is repealed.

163,62 Section 62. 202.12 (3) (title) of the statutes is amended to read:

202.12 (3) (title) Annual financial report; audit requirement.

163,63 Section 63. 202.12 (3) (a) (intro.) of the statutes is renumbered 202.12 (3) (a) and amended to read:

202.12 (3) (a) Except as provided in pars. (am), (b), and (bm), and in rules promulgated under sub. (8), a A charitable organization that received contributions in excess of $5,000 during its most recently completed fiscal year registered under sub. (1) 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 12 months after the end of that fiscal year and shall include all of the following:.

163,64 Section 64. 202.12 (3) (a) 1., 2., 3. and 4. of the statutes are repealed.

163,65 Section 65. 202.12 (3) (am) of the statutes is repealed.

163,66 Section 66. 202.12 (3) (b) of the statutes is amended to read:

202.12 (3) (b) Except as provided in rules promulgated under sub. (8) In addition to the annual report required under par. (a), if a charitable organization received contributions in excess of $400,000 $500,000, subject to adjustment under sub. (8), during its most recently completed fiscal year, the charitable organization shall file with the department, in lieu of a report under par. (a), an audited financial statement for the charitable organization's most recently completed fiscal year, prepared in accordance with generally accepted accounting principles, and the opinion of an independent certified public accountant on the financial statement. The audited financial statement shall be filed within 6 12 months after the end of that fiscal year.

163,67 Section 67. 202.12 (3) (bm) of the statutes is amended to read:

202.12 (3) (bm) Except as provided in rules promulgated under sub. (8) In addition to the annual report required under par. (a), if a charitable organization received contributions in excess of $200,000 $300,000, subject to adjustment under sub. (8), but less not more than $400,000 $500,000, subject to adjustment under sub. (8), during its most recently completed fiscal year, the charitable organization shall file with the department, in lieu of a report under par. (a), a financial statement for the charitable organization's most recently completed fiscal year, prepared in accordance with generally accepted accounting principles, and a review of the financial statement by an independent certified public accountant. The financial statement shall be filed within 6 12 months after the end of that fiscal year.

163,68 Section 68. 202.12 (3) (c) of the statutes is repealed.

163,69 Section 69. 202.12 (3) (d) of the statutes is created to read:

202.12 (3) (d) A charitable organization may apply to the department for a waiver of the requirement set forth in par. (b) or (bm). The waiver application shall be in writing, be received by the department within 90 days after the charitable organization's fiscal year-end, and include documentation to support all of the following:

1. The charitable organization's contributions were, during each of the past 3 fiscal years, less than $100,000, subject to adjustment under sub. (8).

2. During the fiscal year for which the waiver is being requested, the charitable organization received one or more contributions from one contributor that exceeded $200,000, subject to adjustment under sub. (8), if the charitable organization is applying for a waiver of the requirement set forth in par. (bm), or exceeded $400,000, subject to adjustment under sub. (8), if the charitable organization is applying for a waiver of the requirement set forth in par. (b).

163,70 Section 70. 202.12 (4) of the statutes is repealed.

163,71 Section 71. 202.12 (5) (a) 3. of the statutes is amended to read:

202.12 (5) (a) 3. Except as provided in par. (b) and in rules promulgated under sub. (8), a charitable organization that does not intend to raise or receive contributions in excess of $5,000 $25,000, subject to adjustment under sub. (8), during a fiscal year, if all of its functions, including solicitation, are performed by persons who are unpaid for their services and if no part of its assets or income inures to the benefit of, or is paid to, any officer or member of the charitable organization.

163,72 Section 72. 202.12 (5) (a) 9. of the statutes is created to read:

202.12 (5) (a) 9. Any corporation established by an act of the United States Congress that is required by federal law to submit to Congress annual reports, fully audited by the United States Department of Defense, of its activities including itemized accounts of all receipts and expenditures.

163,73 Section 73. 202.12 (5) (b) of the statutes is amended to read:

202.12 (5) (b) Except as provided in rules promulgated under sub. (8), if If a charitable organization would otherwise be exempt under par. (a) 3., but it raises or receives more than $5,000 $25,000, subject to adjustment under sub. (8), in contributions, it shall, within 30 days after the date on which its contributions exceed $5,000 this amount, register as required under sub. (1).

163,74 Section 74. 202.12 (6m) (a) 3. of the statutes is created to read:

202.12 (6m) (a) 3. That the contribution is not tax-deductible, if this disclosure is applicable.