HB1408: relative to reporting requirements for certain nonprofit organizations, including health care charitable trusts.

CHAPTER 213

HB 1408-FN – FINAL VERSION

11Mar2004… 0535h

25May2004… 1640CofC

2004 SESSION

03-2328

05/10

HOUSE BILL 1408-FN

AN ACT relative to reporting requirements for certain nonprofit organizations, including health care charitable trusts.

SPONSORS: Rep. Weyler, Rock 79; Rep. Hughes, Rock 88; Rep. N. Johnson, Straf 68; Rep. Giuda, Graf 13; Rep. Quandt, Rock 83; Sen. Barnes, Dist 17; Sen. Below, Dist 5; Sen. Gatsas, Dist 16; Sen. Roberge, Dist 9

COMMITTEE: Commerce

ANALYSIS

This bill requires certain nonprofits to file the organization’s most recent audited financial report with the attorney general. The bill also changes the community needs assessment reporting requirement for health care charitable trusts from 3 years to 5 years.

This bill is a request of the committee to study the exemption from property taxes for not-for-profit hospitals, 2002, 121 (HB 424) as extended by 2003, 45 (HB 172).

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

11Mar2004… 0535h

25May2004… 1640CofC

03-2328

05/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Four

AN ACT relative to reporting requirements for certain nonprofit organizations, including health care charitable trusts.

Be it Enacted by the Senate and House of Representatives in General Court convened:

213:1 New Paragraphs; Director of Charitable Trusts; Reports by Trustees of Charitable Trusts; Reporting Requirements Added. Amend RSA 7:28 by inserting after paragraph III the following new paragraphs:

III-a. Any charitable organization with revenue, gains, and other support of $500,000 or more that is required to file an Internal Revenue Service Form 990 with the attorney general shall also submit the organization’s latest financial statement prepared in accordance with generally accepted accounting principles.

III-b. Any charitable organization with revenue, gains, and other support of $1,000,000 or more that is required to file an Internal Revenue Service Form 990 with the attorney general shall also submit the organization’s latest audited financial statement prepared in accordance with generally accepted accounting principles.

III-c. Charitable organizations for which compliance with paragraphs III-a or III-b would constitute a financial burden may request an exemption according to criteria established and administered by the director of charitable trusts. An exemption, if granted, shall be valid for 3 years from the date of issuance unless revoked by the director of charitable trusts and written notice of such revocation is provided to the charitable organization.

213:2 Community Benefits; Community Needs Assessment Updates. Amend RSA 7:32-f to read as follows:

7:32-f Community Needs Assessment. Every health care charitable trust shall, either alone or in conjunction with other health care charitable trusts in its community, conduct a community needs assessment to assist in determining the activities to be included in its community benefits plan. The needs assessment process shall include consultation with members of the public, community organizations, service providers, and local government officials in the trust’s service area, in the identification and prioritization of community needs that the health care charitable trust can address directly, or in collaboration with others. The community needs assessment shall be updated at least every [3] 5 years.

213:3 Effective Date. This act shall take effect 60 days after its passage.

(Approved: June 11, 2004)

(Effective Date: August 10, 2004)