Senate Sponsors: O'MALLEY. House Sponsors: DART-MEYER-JONES,LOU-MCKEON-FLOWERS 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 END OF INQUIRY Full Text Bill Status