Legislature Approves State Budget; Final Version Does Not Contain Proposed Restrictions On Non-Profit Director and Officer Compensation

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On Thursday, June 28, the Massachusetts House and Senate each voted to approve a $32.5 billion state budget bill. We had previously reported on an amendment to the budget that would have prohibited the compensation of directors, independent officers and trustees of public charities without the approval of the Massachusetts attorney general. This amendment was not included in the budget bill passed yesterday in the House and Senate.

Foley Hoag will continue to track legislative developments affecting public charities and their officers and directors, and is available to advise public charities of any resulting implications. If you have any questions, please contact Sharon C. LincolnKevin C. Conroy or Noah J. Kaufman at Foley Hoag.

 

Published In: Administrative Agency Updates, Business Organization Updates, Elections & Politics Updates, Nonprofits Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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