Bill Text: TX HB2674 | 2017-2018 | 85th Legislature | Comm Sub
Bill Title: Relating to reporting requirements for certain nonprofit corporations regarding employee and officer salaries.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-05-08 - Committee report sent to Calendars [HB2674 Detail]
Download: Texas-2017-HB2674-Comm_Sub.html
By: Uresti | H.B. No. 2674 | ||
Substitute the following for H.B. No. 2674: | |||
By: Oliveira | C.S.H.B. No. 2674 |
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relating to reporting requirements for certain nonprofit | ||
corporations regarding employee and officer salaries. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Chapter 22, Business Organizations Code, is | ||
amended by adding Subchapter J to read as follows: | ||
SUBCHAPTER J. CERTAIN REPORTS | ||
Sec. 22.451. ANNUAL REPORT OF EMPLOYEE AND OFFICER | ||
SALARIES. (a) Except as provided by Subsection (d), a corporation | ||
that is exempt from income taxation under Section 501(a), Internal | ||
Revenue Code of 1986, by being listed under Section 501(c)(3) of | ||
that code and that receives 25 percent or more of its income from | ||
state funding shall prepare and file an annual report with the | ||
secretary of state listing the salaries of each of its employees and | ||
officers. | ||
(b) A corporation required to prepare a report under | ||
Subsection (a) shall prepare the report on a form adopted by the | ||
secretary of state for that purpose. | ||
(c) A corporation required to prepare a report under | ||
Subsection (a) shall make the report available to the public at no | ||
cost on the corporation's Internet website, if the corporation | ||
maintains an Internet website. | ||
(d) This section does not apply to a corporation that is a | ||
church, an ecclesiastical or denominational organization, or | ||
another established physical place for worship at which religious | ||
services are the primary activity and are regularly conducted. | ||
SECTION 2. As soon as practicable after the effective date | ||
of this Act, the secretary of state shall adopt a form and establish | ||
a procedure for filing the report required by Section 22.451, | ||
Business Organizations Code, as added by this Act. | ||
SECTION 3. This Act takes effect September 1, 2017. |