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General Assembly Substitute Bill No. 6194
January Session, 2025
AN ACT REQUIRING REPORTS CONCERNING THE TERMINATION
OF CERTAIN FUNDS AND ACCOUNTS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (NEW) (Effective October 1, 2025) For any fund or account 1
that is (1) established pursuant to a public or special act, (2) 2
administered by the state, a state agency or a department, institution, 3
bureau, board, commission, authority or official of the state, and (3) 4
intended for a charitable purpose, the administrator of such fund or 5
account shall, to the extent practicable, submit a report electronically to 6
the clerks of the Senate and the House of Representatives prior to the 7
termination of such fund or account. Any such report shall disclose: 8
(A) The intent to terminate such fund or account; and 9
(B) An estimate of the anticipated balance of such fund or account at 10
the time of termination, if any. 11
This act shall take effect as follows and shall amend the following
sections:
Section 1 October 1, 2025 New section
BA Joint Favorable Subst.