Donor-advised funds.

Existing law, the Supervision of Trustees and Fundraisers for Charitable Purposes Act, governs charitable corporations, unincorporated associations, trustees, commercial fundraisers, fundraising counsel, commercial coventurers, and other legal entities holding or soliciting property for charitable purposes over which the state or the Attorney General has enforcement and supervisory powers. Under the act, any person who violates any of the act's provisions with intent to deceive or defraud any charity or individual is liable for a specified civil penalty. The act also authorizes the Attorney General to impose other specified civil penalties for related acts and omissions. This bill would express the intent of the Legislature to enact legislation that would relate to donor-advised funds for the purpose of improving accountability of charitable giving.