An Act relative to transparency for grant applications
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No additional cosponsors.
| Committee | Recommendation | Vote |
|---|---|---|
| J25 | Accompanied | 1 entries |
Notwithstanding any general provisions or special laws to the contrary, nonprofit organizations shall provide the following to relevant state agencies upon the submission of an application for state grant funding: (1) A financial statement containing a full accounting of any existing endowment belonging to the nonprofit. (2) A comprehensive listing of any and all foreign donors and the amount of money, goods and/or services donated to that organization within the last 5 years. (3) A statement disclosing contracts with the Commonwealth for goods and/or services rendered. (4) A statement disclosing existing business contracts between the Commonwealth and members of the board of directors for said organization.
The office of the treasurer shall promulgate rules, regulations, and relevant documentation pursuant to the implementation of this Act.
SECTION 1. Notwithstanding any general provisions or special laws to the contrary, nonprofit organizations shall provide the following to relevant state agencies upon the submission of an application for state grant funding: (1) A financial statement containing a full accounting of any existing endowment belonging to the nonprofit. (2) A comprehensive listing of any and all foreign donors and the amount of money, goods and/or services donated to that organization within the last 5 years. (3) A statement disclosing contracts with the Commonwealth for goods and/or services rendered. (4) A statement disclosing existing business contracts between the Commonwealth and members of the board of directors for said organization. SECTION 2. The office of the treasurer shall promulgate rules, regulations, and relevant documentation pursuant to the implementation of this Act.