HB4532 97TH GENERAL ASSEMBLY

LRB097 17778 JLS 62993 b

97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB4532

Introduced 1/31/2012, by Rep. Jim Sacia

SYNOPSIS AS INTRODUCED:

760 ILCS 55/5

from Ch. 14, par. 55

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.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning charitable trust fees.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Charitable Trust Act is amended by changing Section 5 as follows:

(760 ILCS 55/5) (from Ch. 14, par. 55)

Sec. 5. Registration requirement.

(a) The Attorney General shall establish and maintain a register of trustees subject to this Act and of the particular trust or other relationship under which they hold property for charitable purposes and, to that end, shall conduct whatever investigation is necessary, and shall obtain from public records, court officers, taxing authorities, trustees and other sources, copies of instruments, reports and records and whatever information is needed for the establishment and maintenance of the register.

(b) A registration statement shall be signed and verified under penalty of perjury by 2 officers of a corporate charitable organization or by 2 trustees if not a corporate organization. One signature will be accepted if there is only one officer or one trustee. A registration fee of $15 shall be paid with each initial registration. If a person, trustee or organization fails to maintain a registration of a trust or organization as required by this Act, and its registration is cancelled as provided in this Act, and if that trust or organization remains in existence and by law is required to be registered, in order to re-register, a new registration must be filed accompanied by required financial reports, and in all instances where re-registration is required, submitted, and allowed, the new re-registration materials must be filed, accompanied by a re-registration fee of $50 $200.

(c) If a person or trustee fails to register or maintain registration of a trust or organization or fails to file reports as provided in this Act, the person or trustee is subject to injunction, to removal, to account, and to appropriate other relief before a court of competent jurisdiction exercising chancery jurisdiction. In the event of such action, the court may impose a civil penalty of not less than that $500 nor more than $1,000 against the organization or trust estate that failed to register or to maintain a registration required under this Act. The collected penalty shall be used for charitable trust enforcement and for providing charitable trust information to the public.

(Source: P.A. 90-469, eff. 8-17-97; 91-444, eff. 8-6-99; revised 11-21-11.)