LC 1823 Legislature · 2025 Regular Session

Generally revise laws relating to gifts and endowments

This bill, titled the Safeguarding Endowment Gifts Act, establishes legal protections for donors who make contributions to charitable organizations with specific restrictions on how their funds should be used. It defines key terms such as endowment funds, donor-imposed restrictions, and charitable organizations to clarify the scope of the law. The legislation requires charitable organizations to notify donors 30 days in advance if they cannot fulfill an endowment agreement term and offers donors the right to file a complaint in court if restrictions are violated, though it does not allow for the return of donated funds. Courts may order remedies consistent with the original charitable purpose if a violation occurs, while the bill preserves the attorney general's enforcement authority and existing state laws regarding endowment fund management.
Bill status introduced 1 of 4 stages cleared
Introduction
Nov 2024
Committee Review
Floor Vote
Governor
Introduced Nov 22, 2024 Last action Jan 10, 2025
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
7
Key actions
0
Committee
0
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.