House Passes Bill Protecting Private Foundations and Charitable Trusts
Mike Seals - April 14, 2021 11:02 pm
OKLAHOMA CITY – Today the Oklahoma House of Representatives passed Senate Bill 961, a bill that will protect private foundations and charitable trusts from new filing and reporting requirements.
SB 961 was authored by Rep. Mark Lepak, R-Claremore, in the House and Sen. Julie Daniels, R-Bartlesville, in the Senate.
“This bill protects Oklahoma private foundations and charitable trusts from an undue burden imposed by the government,” said Lepak. “Government bureaucracy and red tape has slowly crept into most facets of our society, and through the passage of this bill we are trying to cut some of that red tape and make sure the money going to these organizations and trusts can be used to help people rather than to pay for accommodating new government filing and reporting requirements.”
The bill specifically prohibits state agencies or officials from imposing additional new annual filing or reporting requirements on private foundations or charitable trusts that are more stringent, restrictive or expansive than existing state or federal rules. The bill does not change current filings or reporting requirements.
Lepak added, “The bill calls for any new requirements on nonprofit organizations to first be deliberated and approved by the legislature. Additionally, it aligns Oklahoma’s governance of nonprofit organizations with federal law, unless the Oklahoma Legislature determines it is necessary to deviate from federal policy. Simply put, this is a bill that provides local control for local issues.”
SB 961 passed the House today by a vote of 63-24 and previously passed the Oklahoma Senate by a vote of 45-0. It will now be sent to the Governor’s desk for signature.