SB 2385

AN ACT ENACT THE MISSISSIPPI TRUST ACT; TO DEFINE TERMS; TO REQUIRE A GOVERNMENTAL ENTITY TO VERIFY THE REGISTRATION OF A CHARITABLE ORGANIZATION, FOREIGN CORPORATION, OR NONPROFIT CORPORATION BEFORE THE DISBURSEMENT OF PUBLIC FUNDS; TO REQUIRE A LINE-ITEM APPROPRIATION BY THE LEGISLATURE, SUBJECT TO THE REQUIREMENTS OF SECTION 27-104-351, BEFORE THE DISBURSEMENT OF PUBLIC FUNDS TO A CHARITABLE ORGANIZATION, NONPROFIT CORPORATION, OR FOREIGN CORPORATION; TO AMEND SECTION 79-11-407, MISSISSIPPI CODE OF 1972, TO REQUIRE NONPROFIT CORPORATIONS AND FOREIGN CORPORATIONS TO REPORT CERTAIN FINANCIAL INFORMATION AND ATTEST TO THE OUTCOMES OF EXPENDITURES RELATED TO PUBLIC FUNDS; TO AMEND SECTION 79-11-507, MISSISSIPPI CODE OF 1972, TO REQUIRE CHARITABLE ORGANIZATIONS TO REPORT CERTAIN FINANCIAL INFORMATION AND ATTEST TO THE OUTCOMES OF EXPENDITURES RELATED TO PUBLIC FUNDS; TO AMEND SECTION 27-104-351, MISSISSIPPI CODE OF 1972, TO CONFORM; AND FOR RELATED PURPOSES.