An Act relative to transparency for grant applications

HD 1164 requires nonprofit organizations applying for state grant funding to disclose specific financial information to relevant state agencies. It mandates that nonprofits provide a full accounting of existing endowments, a detailed list of all foreign donors and donations received over the past five years, disclosure of contracts with the Commonwealth, and disclosure of board members' contracts with the Commonwealth. These transparency requirements apply specifically to nonprofits seeking state grant funding. The Treasurer's office will develop implementing rules and regulations for the law.