Update: Nonprofits Left Out of Corporate Reform Bill - August 5, 2002 Vol. 3 No. 16

August 5, 2002 Vol. 3 No. 16:

Published: 08/05/2002

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Update: Nonprofits Left Out of Corporate Reform Bill

Despite being included in the House version of corporate reform legislation, a provision that would require disclosure of corporate ties to nonprofits was not included in the final version that was signed into law. As reported in a previous Watcher, the provision would have required disclosure of contributions by corporations to any nonprofits where a corporate officer or a family member was also an officer.

Versions of this legislation have been introduced repeatedly over the past few years, so it is likely that it will be seen again in the future.

The House version was offered by Rep. John LaFalce (D-NY) after reports that certain nonprofits received beneficial treatment from Enron directors. The Senate had no language requiring disclosure and the final bill had no such language.