First Regular Session
              Sixty-fifth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 05-0334.01 Michele Hanigsberg   HOUSE BILL 05-1041
                    HOUSE SPONSORSHIP
 Knoedler 
 
                   SENATE SPONSORSHIP
 Tupa 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 Education
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning the financial expenditures of a nonprofit entity
            organized for the benefit of a state institution of
            higher education.
       
       
                           Bill Summary
       
            (Note:  This summary applies to this bill as introduced and does
       not necessarily reflect any amendments that may be subsequently
       adopted.)
       
            Specifies that the financial records of a nonprofit entity that is
       organized for the benefit of one or more state institutions of higher
       education are public records for purposes of the open records act. 
       Specifies that these financial records shall not include any names or other
       identifying information of the donors of the nonprofit entity.
            Requires each governing board to submit annually to the Colorado
       commission on higher education a comprehensive list of each donation
       received, monetary or in-kind, by the governing board's institutions from
       a nonprofit entity.  Requires the department of higher education to
       forward the list to the governor and the joint budget committee with the
       department's annual budget submission.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  24-72-202 (2), Colorado Revised Statutes, is
       amended to read:
            24-72-202.  Definitions.  As used in this part 2, unless the context
       otherwise requires:
            (2)  "Official custodian" means and includes any officer or
       employee of the state, of any agency, institution, or political subdivision
       of the state, or of any local government-financed entity, or of a
       nonprofit entity defined in section 23-5-112 (3), C.R.S., who is
       responsible for the maintenance, care, and keeping of public records,
       regardless of whether the records are in his or her actual personal custody
       and control.
            SECTION 2.  24-72-202 (6) (a), Colorado Revised Statutes, is
       amended BY THE ADDITION OF NEW SUBPARAGRAPH to read:
            24-72-202.  Definitions.  As used in this part 2, unless the context
       otherwise requires:
            (6) (a) (IV)  "Public records" includes the financial
       expenditure records of a nonprofit entity defined in section
       23-5-112 (3), C.R.S.; except that records of financial
       expenditures shall not include names or other identifying
       information of the donors to the nonprofit entity.
            SECTION 3.  23-5-112 (3), Colorado Revised Statutes, is
       amended to read:
            23-5-112.  Gifts and bequests to institutions of higher
       education.  (3) (a)  For purposes of this section, "nonprofit entity"
       means a foundation, institute, or similar organization that is
       organized for the benefit of one or more state institutions of
       higher education.
            (b)  A nonprofit entities such as foundations, institutes, and similar
       organizations organized for the sole benefit of one or more state
       institutions of higher education entity shall be entitled to receive gifts
       and bequests of money or property which may be tendered to any such
       entity by will or gift.  Such gifts and bequests are subject to audit by the
       state auditor or his or her designee.  If the nonprofit entity is entirely
       separate and apart from the institution, if no employees of the institution
       serve as staff or as voting members of the nonprofit entity's board, and
       if the funds and accounts of the nonprofit entity are entirely separate
       from those of the institution, such gifts and bequests shall be subject to
       annual audit to be performed by an independent accounting firm engaged
       by the nonprofit entity if determined in advance to be satisfactory to the
       legislative audit committee.  The state auditor shall have access to all of
       the accountant's work papers.  If, alternatively, the separate relationship
       does not prevail, members and employees of the board of the nonprofit
       entity may include staff members or employees of the institution, and
       such gifts and bequests shall be subject to audit by the state auditor or his
       or her designee.
            (c)  Each governing board shall, with the board's budget
       request, annually submit to the Colorado commission on higher
       education a comprehensive list of each donation received,
       monetary or in kind, by each of the governing board's
       institutions from a nonprofit entity.  The department of higher
       education shall forward the list to the governor and the joint
       budget committee with the department's annual budget
       submission.
            SECTION 4.  Safety clause.  The general assembly hereby finds,
       determines, and declares that this act is necessary for the immediate
       preservation of the public peace, health, and safety.