MISSISSIPPI LEGISLATURE
2023 Regular Session
To: Judiciary, Division A
By: Senator(s) McCaughn, Suber, Branning, Parker
AN ACT TO REQUIRE NONPROFIT CORPORATIONS WHICH RECEIVE PUBLIC FUNDS IN EXCESS OF $200,000.00 TO REPORT DISTRIBUTION OF SUCH FUNDS TO THE SECRETARY OF STATE; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Any nonprofit corporation, as defined in Section 79-11-127(z), which receives Two Hundred Thousand Dollars ($200,000.00) or more in public funds from the State during any one (1) fiscal year, shall report annually to the Secretary of State, on a form prescribed by the Secretary of State, a detailed explanation of the distribution of such funds and the nonprofit corporation's compliance with any limitations on the expenditure and distribution of such funds.
SECTION 2. Section 1 of this act shall be codified in Title 79, Chapter 11, of the Mississippi Code of 1972.
SECTION 3. This act shall take effect and be in force from and after July 1, 2023.