| 1 | 1 | | By: Uresti H.B. No. 2674 |
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| 2 | 2 | | Substitute the following for H.B. No. 2674: |
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| 3 | 3 | | By: Oliveira C.S.H.B. No. 2674 |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | A BILL TO BE ENTITLED |
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| 7 | 7 | | AN ACT |
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| 8 | 8 | | relating to reporting requirements for certain nonprofit |
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| 9 | 9 | | corporations regarding employee and officer salaries. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Chapter 22, Business Organizations Code, is |
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| 12 | 12 | | amended by adding Subchapter J to read as follows: |
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| 13 | 13 | | SUBCHAPTER J. CERTAIN REPORTS |
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| 14 | 14 | | Sec. 22.451. ANNUAL REPORT OF EMPLOYEE AND OFFICER |
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| 15 | 15 | | SALARIES. (a) Except as provided by Subsection (d), a corporation |
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| 16 | 16 | | that is exempt from income taxation under Section 501(a), Internal |
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| 17 | 17 | | Revenue Code of 1986, by being listed under Section 501(c)(3) of |
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| 18 | 18 | | that code and that receives 25 percent or more of its income from |
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| 19 | 19 | | state funding shall prepare and file an annual report with the |
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| 20 | 20 | | secretary of state listing the salaries of each of its employees and |
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| 21 | 21 | | officers. |
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| 22 | 22 | | (b) A corporation required to prepare a report under |
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| 23 | 23 | | Subsection (a) shall prepare the report on a form adopted by the |
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| 24 | 24 | | secretary of state for that purpose. |
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| 25 | 25 | | (c) A corporation required to prepare a report under |
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| 26 | 26 | | Subsection (a) shall make the report available to the public at no |
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| 27 | 27 | | cost on the corporation's Internet website, if the corporation |
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| 28 | 28 | | maintains an Internet website. |
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| 29 | 29 | | (d) This section does not apply to a corporation that is a |
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| 30 | 30 | | church, an ecclesiastical or denominational organization, or |
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| 31 | 31 | | another established physical place for worship at which religious |
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| 32 | 32 | | services are the primary activity and are regularly conducted. |
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| 33 | 33 | | SECTION 2. As soon as practicable after the effective date |
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| 34 | 34 | | of this Act, the secretary of state shall adopt a form and establish |
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| 35 | 35 | | a procedure for filing the report required by Section 22.451, |
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| 36 | 36 | | Business Organizations Code, as added by this Act. |
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| 37 | 37 | | SECTION 3. This Act takes effect September 1, 2017. |
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