Revision: May 17, 2010, midnight
SB 484 – VERSION ADOPTED BY BOTH BODIES
03/03/10 0736s
21Apr2010… 1267h
2010 SESSION
05/03
SENATE BILL 484
AN ACT allowing the New Hampshire children’s trust fund to become a nonprofit entity.
SPONSORS: Sen. Gilmour, Dist 12; Sen. Lasky, Dist 13; Rep. Grassie, Straf 1; Rep. McKinney, Rock 3
COMMITTEE: Health and Human Services
This bill repeals the New Hampshire children’s trust fund and transfers the fund’s assets, operations, and functions to a nonprofit corporation to be known at the New Hampshire Children’s Trust.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03/03/10 0736s
21Apr2010… 1267h
10-2852
05/03
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Ten
AN ACT allowing the New Hampshire children’s trust fund to become a nonprofit entity.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Statement of Intent. The general court intends that the New Hampshire children’s trust fund, established by RSA 169-C:39-c and administratively attached to the office of the attorney general, be reestablished as a nonprofit corporation to be known as the “New Hampshire Children’s Trust” and that all assets, operations, and functions of the New Hampshire children’s trust fund be transferred to the New Hampshire Children’s Trust.
2 Transfer of Assets, Operations, and Functions. All assets, operations, and functions of the New Hampshire children’s trust fund, established in RSA 169-C:39-a through RSA 169-C:39-i, are hereby transferred to the New Hampshire Children’s Trust, a New Hampshire voluntary corporation qualified by the Internal Revenue Service as a section 501(c)(3) entity. The transfer shall include any and all funds held by the New Hampshire Charitable Foundation and the state treasurer on behalf of the New Hampshire children’s trust fund.
3 Repeal. RSA 169-C:39-a through RSA 169-C:39-i, relative to the New Hampshire children’s trust fund, are repealed.
4 Contingency. Sections 2 and 3 of this act shall take effect on the date that the New Hampshire Children’s Trust certifies to the secretary of state, the state treasurer, and the director of the office of legislative services that the trust has been formed as a private New Hampshire voluntary corporation and has been qualified by the Internal Revenue Service as a section 501(c)(3) entity.
5 Effective Date.
I. Sections 2 and 3 of this act shall take effect as provided in section 4 of this act.
II. The remainder of this act shall take effect upon its passage.