HB 74 (BR 310) - J. Barrows, K. Hall
AN ACT relating to charitable community foundations.
Amend KRS 65.1575 relating to charitable community foundations to include all boards of education in the definition of "local government"; define "nonprofit organization" as an organization incorporated under KRS Chapter 273 and exempt under Section 501(c)(3) of the Internal Revenue Code; allow a local government to contribute to a nonprofit organization exempt under Section 501(c)(3) of the Internal Revenue Code for the development and operation of a community center or recreational facilities; require nonprofit organizations that receive a gift from a local government to maintain financial records; allow nonprofit organizations to be organized so as to allow appointment to its board of directors by the local government; require the nonprofit organization to refund contributions made to it by a local government upon certain conditions.
Jan 4-introduced in House
Jan 5-to Judiciary (H)