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Update on Senate Bill 1970
As reported by Martin Green, Vice President of Government Relations at the Illinois CPA Society, Illinois State Senate Bill 1970 was sent to the Governor on June 16, 2009 after passing the Illinois State on April 1, 2009 with a vote of 57-0 and passing the House on May 18, 2009 on a 83-22 vote. The Governor has sixty (60) days from the date of receipt to act on this bill which amends the Solicitation for Charity Act and would raise the audit requirement from $150,000 to $300,000 for charitable organizations required to register with the Illinois Attorney General. The provisions of this bill update the Solicitation for Charity Act to reflect contemporary audit standards and provide charities some relief from increased overhead costs which ultimately allows them to serve their respective constituents during these very difficult economic times. More information on Senate Bill 1970, please visit the Illinois General Assembly's page on SB1970, or the Illinois CPA Society's Fact Sheet.
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