Full Text of HB4532 97th General Assembly
HB4532 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 HB4532 Introduced 1/31/2012, by Rep. Jim Sacia SYNOPSIS AS INTRODUCED: |
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760 ILCS 55/5 | from Ch. 14, par. 55 |
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Amends the Charitable Trust Act. Reduces from $200 to $50 the fee required upon re-registration after cancellation of registration of a trust or organization that by law is required to be registered.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | | HB4532 | | LRB097 17778 JLS 62993 b |
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| 1 | | AN ACT concerning charitable trust fees.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Charitable Trust Act is amended by changing | 5 | | Section 5 as follows:
| 6 | | (760 ILCS 55/5) (from Ch. 14, par. 55)
| 7 | | Sec. 5. Registration requirement.
| 8 | | (a) The Attorney General shall establish and maintain a | 9 | | register of
trustees subject to this Act and of the particular | 10 | | trust or other
relationship under which they hold property for | 11 | | charitable purposes and, to
that end, shall conduct whatever | 12 | | investigation is necessary, and shall
obtain from public | 13 | | records, court officers, taxing authorities, trustees
and | 14 | | other sources, copies of instruments, reports and records and | 15 | | whatever
information is needed for the establishment and | 16 | | maintenance of the
register.
| 17 | | (b) A registration statement shall be signed and verified | 18 | | under
penalty of perjury by 2 officers of a corporate | 19 | | charitable organization or
by 2 trustees if not a corporate | 20 | | organization. One signature will be
accepted if there is only | 21 | | one officer or one trustee.
A registration fee of $15 shall be | 22 | | paid with each initial registration.
If a person, trustee or | 23 | | organization fails to maintain a registration of a
trust or |
| | | HB4532 | - 2 - | LRB097 17778 JLS 62993 b |
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| 1 | | organization as required by this Act, and its registration is
| 2 | | cancelled as provided in this Act, and if that trust or | 3 | | organization remains in
existence and by law is required to be | 4 | | registered, in order to re-register, a
new registration must be | 5 | | filed accompanied by required financial reports, and
in all | 6 | | instances where re-registration is required, submitted, and | 7 | | allowed, the
new re-registration materials must be filed, | 8 | | accompanied by
a
re-registration fee of $50 $200 .
| 9 | | (c) If a person or trustee fails to register or maintain | 10 | | registration of
a trust or organization or fails to file | 11 | | reports as provided in this
Act, the person or trustee
is | 12 | | subject to injunction, to removal, to account, and to | 13 | | appropriate other
relief before a court of competent | 14 | | jurisdiction exercising chancery
jurisdiction.
In the event of | 15 | | such action, the court may impose a civil penalty of not less | 16 | | than that $500 nor more than $1,000
against the organization or | 17 | | trust estate that failed to register or to maintain a
| 18 | | registration required under this Act. The collected penalty | 19 | | shall be used for
charitable trust enforcement and for | 20 | | providing charitable trust information to
the public.
| 21 | | (Source: P.A. 90-469, eff. 8-17-97; 91-444, eff. 8-6-99; | 22 | | revised 11-21-11.)
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