91st General Assembly
Summary of SB0392
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Short description: 
CHARITABLE TRUST ACT-MINORS                                                

Synopsis of Bill as introduced:
        Amends the Solicitation for Charity Act to provide that a circuit      
   court may (now, shall) impose a civil penalty upon an organization  or      
   trust estate (rather than a trustee or other person) that has failed        
   to file a registration statement with the Office of the Attorney Gen-       
   eral. Amends the exemption provision regarding certain parent-teacher       
   organizations to provide that the governing board of the organization       
   shall certify to the Attorney General, if the Attorney General makes a      
   request for certification (now, made annually regardless of Attorney        
   General's request), that the organization had made a full accounting        
   to the school and has provided benefits and contributions to the            
   school. Omits Class 4 felony offenses relating to certain professional      
   fund raising activities. Abolishes the peer review rating system for-       
   merly assigned to the Attorney General's Charitable Advisory Council.       
   Changes the reporting requirements for charitable organizations recei-      
   ving between $15,000 and $25,000 in a 12-month period. Provides that        
   the charitable organizations shall file only a simplified summary           
   financial statement disclosing only the gross receipts, total dis-          
   bursements, and assets on hand at the end of the year. Amends the           
   Charitable Trust Act to provide that a circuit court may (now, shall)       
   impose  a civil penalty upon an organization or trust estate that has       
   failed to register with the Office of the Attorney General or has           
   failed to file certain reports required under the Act. Changes the          
   amount in receipts that triggers certain financial disclosure require-      
   ments from $15,000 to $25,000. Effective immediately.                       
          FISCAL NOTE (Attorney General)                                       
          No fiscal impact on the A.G. Office; additional duties would be      
          absorbed by existing resources.                                      
        HOUSE AMENDMENT NO. 1.  (House recedes May 27, 1999)                   
        Provides that every trustee that received in any fiscal year more      
   than $25,000 (instead of $15,000) in revenue and held more than than        
   $25,000 (instead of $15,000) in assets shall pay a fee of $15 along         
   with each annual financial report filed according to the Act.               
        HOUSE AMENDMENT NO. 2.  (House recedes May 27, 1999)                   
          Adds reference to:                                                   
          760 ILCS 55/7.5 new                                                  
        Further amends the Charitable Trust Act.  Provides  that  in  the      
   case of a charitable trust established for the benefit of a minor by a      
   person  other than a minor's parent or guardian, the person or trustee      
   responsible for the trust shall report its existence by  certified  or      
   registered  United  States mail to the parent or guardian of the minor      
   within 30 days after  formation  of  the  trust  and  every  6  months      
   thereafter.   Provides  that  the  report  must  include  the name and      
   address of the trustee or trustees responsible for the trust, the name      
   and address of the financial institution at which funds for the  trust      
   are  held,  the  amount of funds raised for the trust, and an itemized      
   list of expenses for administration of the trust.                           
        HOUSE AMENDMENT NO. 4.  (House recedes May 27, 1999)                   
          Deletes reference to:                                                
          225 ILCS 460/2                                                       
          225 ILCS 460/3                                                       
          225 ILCS 460/4                                                       
          225 ILCS 460/6                                                       
          225 ILCS 460/23                                                      
          760 ILCS 55/5                                                        
          760 ILCS 55/7                                                        
        Deletes everything.  Amends the Charitable Trust  Act. Reinserts       
   the provisions added by H-am 2 only and deletes everything else that        
   was in the bill as amended. Effective immediately.                          
        CONFERENCE COMMITTEE REPORT NO. 1.                                     
        Recommends that the House recede from H-ams 1, 2, and 4.               
        Recommends that the bill be amended as follows:                        
        Deletes everything. Amends the Charitable Trust Act. Adds              
   language that is similar to H-am 4 but includes trusts established          
   for the benefit of disabled persons. Defines a "charitable trust for        
   the benefit of a minor or disabled person". Provides that each trustee      
   of a charitable trust for the benefit of a minor or disabled person         
   must register under the Act and must file an annual report as required      
   by the Act. Effective immediately.                                          
Last action on Bill: PUBLIC ACT.............................. 91-0620

   Last action date: 99-08-19

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   3     SENATE -   0


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