CSHB 75(FIN): "An Act amending certain audit requirements for entities receiving contributions from permanent fund dividends; requiring the three main campuses of the University of Alaska to apply to be included on the contribution list for contributions from permanent fund dividends; and requiring the university to pay an application fee for each campus separately listed on the contribution list for contributions from permanent fund dividends."
00 CS FOR HOUSE BILL NO. 75(FIN) 01 "An Act amending certain audit requirements for entities receiving contributions from 02 permanent fund dividends; requiring the three main campuses of the University of 03 Alaska to apply to be included on the contribution list for contributions from permanent 04 fund dividends; and requiring the university to pay an application fee for each campus 05 separately listed on the contribution list for contributions from permanent fund 06 dividends." 07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 08 * Section 1. AS 43.23.062(b) is amended to read: 09 (b) The department shall list each [CAMPUS OF THE UNIVERSITY OF 10 ALASKA AND SHALL LIST EACH OTHER] educational organization, community 11 foundation, or charitable organization eligible under (c) and (d) of this section and 12 each university campus that applies under (m) of this section on the contribution 13 list. The department shall maintain an electronic database for the contribution list that
01 is accessible to the public and that permits searches by organization name, geographic 02 location, and type. The department shall provide a statement of the contributions made 03 by an individual that is suitable for federal income tax purposes to each individual 04 who elects to contribute under (a) of this section. 05 * Sec. 2. AS 43.23.062(d) is amended to read: 06 (d) Except for each campus of the University of Alaska, the department may 07 include an educational organization, community foundation, or charitable organization 08 on the contribution list for a current dividend year only if the organization 09 (1) before March 31 of the qualifying year, files an application for 10 inclusion on the list for that dividend year on the form required by the department; 11 (2) is exempt from taxation under 26 U.S.C. 501(c)(3) (Internal 12 Revenue Code) as an educational or a charitable organization on the date of 13 application; 14 (3) was qualified for tax exempt status under 26 U.S.C. 501(c)(3) 15 (Internal Revenue Code) as an educational or a charitable organization during the two 16 calendar years that immediately precede the year the application is filed; 17 (4) unless exempted under federal law, has a current Internal Revenue 18 Service Form 990 on file with the United States Department of the Treasury, Internal 19 Revenue Service, or, if the Internal Revenue Service has granted a filing extension for 20 the current year, has on file that form for the immediately preceding year; 21 (5) is directed by a voluntary board of directors or local advisory 22 board, a majority of whose members are residents of the state; 23 (6) if a community foundation, provided in the state aid during the two 24 calendar years that immediately precede the year the application is filed, or, if an 25 education organization or charitable organization, provided in the state services during 26 the two calendar years that immediately precede the year the application is filed; 27 (7) receives at least $100,000 or five percent of its total annual 28 receipts, whichever is less, from contributions; 29 (8) has completed and provided to the department a financial audit 30 with an unqualified opinion conducted by an independent certified public accountant 31 for the fiscal year to which the Internal Revenue Service Form 990 required under (4)
01 of this subsection applies [, OR IF THE ORGANIZATION IS EXEMPTED FROM 02 FILING FORM 990, FOR THE FISCAL YEAR OF THE ORGANIZATION THAT 03 ENDED IMMEDIATELY BEFORE THE CURRENT FISCAL YEAR]; this 04 paragraph applies only to an organization that is required by the federal 05 government to complete a financial audit by an independent certified public 06 accountant [WITH A TOTAL ANNUAL BUDGET THAT EXCEEDS $250,000 07 DURING THE FISCAL YEAR TO WHICH THE AUDIT REQUIRED UNDER 08 THIS PARAGRAPH APPLIES]; and 09 (9) does not make grants or contributions to an organization that is 10 exempt from taxation under 26 U.S.C. 501(c)(4) or (6). 11 * Sec. 3. AS 43.23.062(f) is amended to read: 12 (f) The department shall charge an application fee of $250 for each 13 educational organization, community foundation, or charitable organization that files 14 an application under (d) of this section or for each university campus that files an 15 application under (m) of this section. The application fees shall be separately 16 accounted for under AS 37.05.142. The annual estimated balance in the account 17 maintained under AS 37.05.142 for application fees collected under this subsection 18 may be appropriated for costs of administering this section. 19 * Sec. 4. AS 43.23.062 is amended by adding new subsections to read: 20 (m) The University of Alaska shall apply separately for each of the three main 21 campuses to be listed on the contribution list for the current dividend year in the 22 manner prescribed by the department. The University of Alaska may apply for each 23 campus other than the three main campuses to be listed on the contribution list for the 24 current dividend year in the manner prescribed by the department. 25 (n) In addition to the application fee in (f) of this section, the department shall 26 withhold a coordination fee from each organization, foundation, or university campus 27 that receives contributions under this section in the immediately preceding dividend 28 year. The coordination fee for an organization, foundation, or university campus that 29 receives contributions under this section shall be seven percent of the amount of 30 contributions reported by the department under (j) of this section for the organization, 31 foundation, or university campus for the immediately preceding dividend year. The
01 coordination fee shall be separately accounted for under AS 37.05.142 and shall be 02 accounted for separately from the application fee collected under (f) of this section. 03 The annual estimated balance in the account maintained under AS 37.05.142 for 04 coordination fees collected under this subsection may be appropriated for costs of 05 administering this section.