Bill Summary

HB 1569 Exemption from Regulation for Bona Fide Nonprofit Organizations (2024 Session)
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Sponsors
by Grant Co Sponsors: Stevenson, Tramont CS Sponsors: Insurance & Banking Subcommittee
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Summary
Exemption from Regulation for Bona Fide Nonprofit Organizations: Authorizes FSC to adopt rules prescribing criteria & processes for determining whether organization is bona fide nonprofit organization for specified purpose; provides exemptions from certain regulation for bona fide nonprofit organizations & certain employees of bona fide nonprofit organization that meet specified criteria; requires Office of Financial Regulation to make specified determination; requires office to make such determination based on terms consistent with loan origination in public or charitable context; requires office to periodically examine books & activities of organization & to revoke its status as bona fide nonprofit organization. Effective Date: July 1, 2024
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committees of reference
   H Insurance & Banking Subcommittee
   H Commerce Committee
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Actions
01/08/24
HOUSE 
Filed
01/13/24
HOUSE 
Referred to Insurance & Banking Subcommittee; Commerce Committee
01/13/24
HOUSE 
Now in Insurance & Banking Subcommittee
01/23/24
HOUSE 
On Committee agenda - Insurance & Banking Subcommittee, 01/25/24, 8:00 am, 17 H
01/25/24
HOUSE 
Favorable with CS by Insurance & Banking Subcommittee; 16 Yeas, 0 Nays
01/25/24
HOUSE 
Committee Substitute Text (C1) Filed
01/26/24
HOUSE 
Now in Commerce Committee
01/26/24
HOUSE 
On Committee agenda - Commerce Committee, 01/30/24, 10:00 am, 212 K
01/30/24
HOUSE 
Favorable by Commerce Committee; 16 Yeas, 0 Nays
01/30/24
HOUSE 
Placed on Calendar, on 2nd reading
02/12/24
HOUSE 
Placed on Special Order Calendar, 02/15/24
02/15/24
HOUSE 
Read Second Time; Read Third Time; Passed (Vote: 118 Yeas / 0 Nays)
02/15/24
SENATE
In Messages
02/16/24
SENATE
Received; Referred to Rules
03/04/24
SENATE
Withdrawn from Rules; Placed on Calendar, on 2nd Reading; Substituted for SB 0514; Read Second Time; Read Third Time; Passed (Vote: 40 Yeas / 0 Nays)
03/04/24
HOUSE 
Ordered enrolled
03/04/24
HOUSE 
Enrolled Text (ER) Filed
04/16/24
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Signed by Officers and presented to Governor (Governor must act on this bill by 05/01/24)
04/26/24
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Approved by Governor
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bill text & filed amendments
1569
Filed on 01/08/24
PDF
Amendment 26541 DE
Grant
Filed on 01/24/24
Adopted
PDF
1569C1
Filed on 01/25/24
PDF
No amendments to this bill text filed.
1569ER
Filed on 03/04/24
PDF
No amendments to this bill text filed.
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Statute Citations
494.0011
494.00115
Research & Reports
Revenue Estimating Coverence Reports, Veto, Transmittal letters and more. Learn more.
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