Plain English Breakdown
The official source material does not provide information on the impact of these changes on state revenue or consequences for non-compliance, which were included in the candidate explanation.
Changes to Nonprofit Rules in Tennessee
This bill changes rules for nonprofits and charitable organizations in Tennessee by removing fees and changing reporting requirements.
What This Bill Does
- Removes the fee that a nonprofit must pay when it stops operating.
- Increases from 30 days to 90 days the time a person has after stopping fundraising activities to tell the secretary of state about it.
Who It Names or Affects
- Nonprofit organizations
- Charitable organizations
Terms To Know
- Secretary of State
- The person in charge of keeping important records for the state, like those about businesses and nonprofits.
- Articles of termination
- Documents a nonprofit files to say it is closing down.
Limits and Unknowns
- Does not specify how much money will be saved or lost by the state from these changes.
- The bill does not explain what happens if nonprofits do not follow the new rules.