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Relating to the availability of financial information of nonprofit corporations for public inspection.
No fiscal implication to the State is anticipated.
Currently, non-profit organizations are required to keep records, books, and annual reports of the organization's financial activity and make those documents available to the public for inspection and copying.
SB 1463 would define "records, books, and annual reports" of a non-profit organization's financial activity. This bill would also allow organizations to: (1) require that a person requesting more than $100 worth of copies of such documents to pay a deposit; (2) establish a reasonable monthly limit of not less than 15 hours on the total amount of hours per month that personnel may spend responding to two or more requests for copies by a single requestor; and (3) deny requests for copies that are duplicative of a prior request.
Texas Action remains supports HB 1463 which uplifts the principle of limited government by tightening disclosure requirements for nonprofit organizations to prevent disclosure of sensitive information that should not be disclosed to the public and to prevent people from using the financial disclosure requirements as a means to harass nonprofit organizations.