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                                         SUBSTITUTE SENATE BILL NO. 5717

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                                                                            C 190 L 87

State of Washington                              50th Legislature                              1987 Regular Session

By Senate Committee on Governmental Operations (originally sponsored by Senators Cantu and Rasmussen)

Read first time 3/5/87.

AN ACT Relating to reporting by nonprofit corporations; creating a new section; making an appropriation; declaring an emergency; and providing an effective date.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.     In order to assist the legislature in determining whether to amend reporting requirements of not-for-profit corporations under Title 24 RCW, the secretary of state shall conduct a study to correlate nonprofit corporations and charities on file with the secretary of state's office with those Washington entities that file a federal return of organization exempt from income tax, form 990.  In the conduct of the study, the secretary may contract with the internal revenue service for such services as may be necessary.  The secretary shall report the results of the correlation study to the legislature by December 31, 1987.

NEW SECTION. Sec. 2.     The sum of twenty-four thousand dollars, or so much thereof as may be necessary, is hereby appropriated from the general fund to the office of the secretary of state for the biennium ending June 30, 1987, for the performance of the study.  Any moneys remaining after the end of that fiscal biennium are reappropriated for the biennium ending June 30, 1989.

NEW SECTION. Sec. 3.     This act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public institutions, and shall take effect June 1, 1987.