CS/HB 1569: Exemption from Regulation for Bona Fide Nonprofit Organizations
GENERAL BILL by Insurance & Banking Subcommittee ; Grant ; (CO-INTRODUCERS) Stevenson ; Tramont
Exemption from Regulation for Bona Fide Nonprofit Organizations; Authorizes FSC to adopt rules prescribing criteria & processes for determining whether organization is bona fide nonprofit organization for specified purpose; provides exemptions from certain regulation for bona fide nonprofit organizations & certain employees of bona fide nonprofit organization that meet specified criteria; requires Office of Financial Regulation to make specified determination; requires office to make such determination based on terms consistent with loan origination in public or charitable context; requires office to periodically examine books & activities of organization & to revoke its status as bona fide nonprofit organization.
- Rules (RC)
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Bill History
Date Chamber Action 1/8/2024 House • Filed
1/9/2024 House • 1st Reading (Original Filed Version)
1/13/2024 House • Referred to Insurance & Banking Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
1/23/2024 House • Added to Insurance & Banking Subcommittee agenda
1/25/2024 House • Favorable with CS by Insurance & Banking Subcommittee
• Reported out of Insurance & Banking Subcommittee
• Laid on Table under Rule 7.18(a)
• CS Filed
1/26/2024 House • Referred to Commerce Committee
• Now in Commerce Committee
• Added to Commerce Committee agenda
• 1st Reading (Committee Substitute 1)
1/30/2024 House • Favorable by Commerce Committee
• Reported out of Commerce Committee
• Bill released to House Calendar
• Added to Second Reading Calendar
2/12/2024 House • Bill added to Special Order Calendar (2/15/2024)
2/15/2024 House • Read 2nd time
• Added to Third Reading Calendar
• Read 3rd time
• CS passed; YEAS 118, NAYS 0
2/15/2024 Senate • In Messages
2/16/2024 Senate • Referred to Rules
2/20/2024 Senate • Received
3/4/2024 Senate • Withdrawn from Rules -SJ 637
• Placed on Calendar, on 2nd reading
• Substituted for CS/SB 514 -SJ 638
• Read 2nd time -SJ 637
• Read 3rd time -SJ 638
• CS passed; YEAS 40 NAYS 0 -SJ 638
3/4/2024 House • Ordered enrolled
• In Messages
4/16/2024 • Signed by Officers and presented to Governor
4/26/2024 • Approved by Governor
4/29/2024 • Chapter No. 2024-134
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CS/HB 1569, Enrolled (Current Bill Version) Posted 3/4/2024 at 4:11 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 514 (c1) Mortgage Brokering Boyd Similar Last Action: 3/4/2024 S Laid on Table, companion bill(s) passed, see CS/HB 1569 (Ch. 2024-134) -SJ 638 
Citations - Statutes (2)
Citation Catchline Location in Bill Location In Bill Help 494.0011 Powers and duties of the commission and office. Page 2 (pdf) 494.00115 Exemptions. Page 3 (pdf) -
CS/HB 1569, Committee Substitute 1 Posted 1/25/2024 at 3:42 PM
Bill Text: PDF Analyses: Commerce Committee (Post-Meeting) 1/30/2024 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 514 (c1) Mortgage Brokering Boyd Similar Last Action: 3/4/2024 S Laid on Table, companion bill(s) passed, see CS/HB 1569 (Ch. 2024-134) -SJ 638
Floor Votes (2)
Date Chamber Result 2/15/2024 5:41 PM House 118 Yeas - 0 Nays 3/4/2024 3:32 PM Senate 40 Yeas - 0 Nays Citations - Statutes (2)
Citation Catchline Location in Bill Location In Bill Help 494.0011 Powers and duties of the commission and office. Page 2 (pdf) 494.00115 Exemptions. Page 3 (pdf) -
HB 1569, Original Filed Version Posted 1/8/2024 at 5:34 PM
Bill Text: PDF Analyses: Insurance & Banking Subcommittee (Post-Meeting) 5/3/2024 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 514 (c1) Mortgage Brokering Boyd Similar Last Action: 3/4/2024 S Laid on Table, companion bill(s) passed, see CS/HB 1569 (Ch. 2024-134) -SJ 638
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 026541 - Strike All Amendment
Remove everything after the enacting clause and insert:Grant 1/24/2024
8:22 PMAdopted without Objection
1/25/2024PDF Citations - Statutes (1)
Citation Catchline Location in Bill Location In Bill Help 494.00115 Exemptions. Page 1 (pdf)