NONPROFIT ANNUAL REPORT FEE H.B. (H-1) 5257: COMMITTEE SUMMARY
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House Bill 5257 (Substitute H-1 as passed by the House)
Sponsor: Representative Ted Hammon
House Committee: Appropriations
Senate Committee: Appropriations
Date Completed: 9-26-07
CONTENT
The bill would amend the Nonprofit Corporation Act to postpone the sunset on the fee for filing the annual report of a nonprofit corporation from September 30, 2007, to September 30, 2012. If the sunset is not changed, the fee will decline from $20 to $10 on October 1, 2007.
MCL 450.3060
FISCAL IMPACT
The bill would maintain the nonprofit corporation annual report filing fee at the current level. If the sunset is not postponed, the revenue from nonprofit corporation filing fees will decline by an estimated ($672,700) annually. Revenue from nonprofit corporation report filing fees goes to the Department of Labor and Economic Growth. Revenue in excess of departmental appropriations lapses to the General Fund.
Fiscal Analyst: Elizabeth Pratt
Maria Tyszkiewicz
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. hb5257/0708