Staff Analysis of the Legislation
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HB 972 concerns charities and standards set up for how they manage investments and spend endowments. This will affect all 501c3 organizations, including churches, colleges, and universities. It accomplishes three main things:
1. Sets standards for investments of assets for boards of directors.
2. Allows flexibility for spending of endowment funds.
3. Sets out a mechanism by which a fund can be released from the charity by donor. |