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HOUSE DOCKET, NO. 3203        FILED ON: 1/21/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3003

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Michael J. Moran and Patricia D. Jehlen

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
              Court assembled:

              The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

AN ACT TO ESTABLISH TAX TRANSPARENCY AND STRENGTHEN THE REPORTING REQUIREMENTS OF PUBLIC CHARITIES AND TO ESTABLISH REPORTING REQUIREMENTS FOR THE TRUSTEES AND DIRECTORS OF PUBLIC CHARITIES.

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PETITION OF:

 

Name:

District/Address:

Michael J. Moran

18th Suffolk

Kevin G. Honan

17th Suffolk

William N. Brownsberger

 

John P. Fresolo

16th Worcester

Alice K. Wolf

25th Middlesex

Tom Sannicandro

7th Middlesex

Linda Campbell

15th Essex

Carl M. Sciortino, Jr.

34th Middlesex

Jennifer E. Benson

37th Middlesex

Anne M. Gobi

5th Worcester

Angelo M. Scaccia

14th Suffolk

Jeffrey Sánchez

15th Suffolk

James J. Dwyer

30th Middlesex

Denise Provost

27th Middlesex

Timothy J. Toomey, Jr.

26th Middlesex

Stephen Stat Smith

28th Middlesex

Cory Atkins

14th Middlesex

Byron Rushing

9th Suffolk

James M. Murphy

4th Norfolk

Sean Garballey

23rd Middlesex

Elizabeth A. Malia

11th Suffolk

Angelo J. Puppolo, Jr.

12th Hampden

Louis L. Kafka

8th Norfolk

Kathi-Anne Reinstein

16th Suffolk

Colleen M. Garry

36th Middlesex


HOUSE DOCKET, NO. 3203        FILED ON: 1/21/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3003

By Representative Moran of Boston and Senator Jehlen, a joint petition (accompanied by bill, House, No. 3003) of Michael J. Moran and others for legislation to establish tax transparency and strengthen the reporting requirements of public charities and to establish reporting requirements for the trustees and directors of public charities.  Revenue. 

 

The Commonwealth of Massachusetts

 

_______________

In the Year Two Thousand Eleven

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AN ACT TO ESTABLISH TAX TRANSPARENCY AND STRENGTHEN THE REPORTING REQUIREMENTS OF PUBLIC CHARITIES AND TO ESTABLISH REPORTING REQUIREMENTS FOR THE TRUSTEES AND DIRECTORS OF PUBLIC CHARITIES.

 

              Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

              SECTION 1. Section 8F of chapter 12 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by adding after the first paragraph the following paragraph:

              “For public charities that are private colleges and universities operating in the Commonwealth, and including all related organizations, the report must additionally include the names of all employees and all consultants who earned more than or were paid more than $250,000 during the preceding fiscal year and the amounts earned and/or paid to each such employee and/or consultant.  The report must also include the names of all service providers that were paid a total of $150,000 or more during the preceding fiscal year and the amounts paid to each service provider along with a brief description of the services provided.  The report must also include a statement of all direct or indirect donations made to the public charity by any service provider that was paid a total of $150,000 or more by the public charity. Public charities that are employers that require employees to disclose to them the income received from third parties must attach such disclosures to the report. Public charities that are employers but do not require such disclosure from their employees must include in the report the names of all employees who were paid a total of $150,000 or more from third parties, the identity of all such third parties, the amount paid by each, and a brief description of the reason for each such payment. Public charities that own more than $10 million in investments and/or real property must attach a list of all such investments and/or real property and the value of each such investment and/or real property at the end of the reporting period. Effective January 1, 2013, the report must include a statement of all federal, state and local taxes that would have been paid during the reporting period if the public charity was not otherwise tax exempt. The Attorney General shall issue guidelines to public charities that define the methodology by which these calculations shall be made.”

              SECTION 2. Chapter 12 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by adding after section 8F the following section:

              8FF              Annual Reports of Certain Individuals Serving as a Trustee or on the Board of  Directors of a Public Charity

              Every trustee and/or director serving on the governing board of a public charity that is a private college or university operating in the Commonwealth or a related organization shall annually at a time determined by the director, file with the division a written report concerning the preceding fiscal year of the public charity. Such report shall be filed on forms prescribed by the director and shall contain such financial and other information as the director may require.  The report shall be signed by the trustee and/or director of the public charity and verified under oath.  There shall be no filing fee for the filing of reports required by this section.

              Among the information disclosed on the report must be the details of any economic and/or business transactions between the public charity and the trustee and/or director, or his/her family, entities controlled by the trustee and/or director or by members of his/her family, entities where the trustee and/or director or members of his/her family is or was employed or with whom a consulting arrangement existed during the reporting year.  Failure to file reports required by this section shall be subject to the penalties and promises set forth in section 8F.

              This section shall not apply to any property held for any religious purpose by any public charity, incorporated or unincorporated.

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