Generally revise laws relating to gifts and endowments
This bill, titled the Safeguarding Endowment Gifts Act, establishes legal protections for donors who make contributions to charitable organizations with specific restrictions on how their funds should be used. It defines key terms such as endowment funds, donor-imposed restrictions, and charitable organizations to clarify the scope of the law. The legislation requires charitable organizations to notify donors 30 days in advance if they cannot fulfill an endowment agreement term and offers donors the right to file a complaint in court if restrictions are violated, though it does not allow for the return of donated funds. Courts may order remedies consistent with the original charitable purpose if a violation occurs, while the bill preserves the attorney general's enforcement authority and existing state laws regarding endowment fund management.
Bill status
introduced
1 of 4 stages cleared
Introduction
Nov 2024
Committee Review
Floor Vote
Governor
Introduced Nov 22, 2024
Last action Jan 10, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
0
Committee
0
0 primary · 0 co-sponsors
Sponsors
No sponsor information available.
Ask Maddy
·
AI policy assistant
Ask Maddy about LC 1823
Scope: MT
Hi! I can help you understand LC 1823. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline