HB 1315 - AS INTRODUCED
2000 SESSION
HOUSE BILL 1315
AN ACT relative to payout ratios of qualified charitable gift annuities.
SPONSORS: Rep. T. Reardon, Merr 23
This bill permits charitable organizations that issue charitable gift annuities with payout ratios higher than that recommended by the American Council on Gift Annuities to issue qualified charitable gift annuities if the higher payout ratio is approved by the attorney general.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
00-2474
03/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand
AN ACT relative to payout ratios of qualified charitable gift annuities.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Insurance; Charitable Gift Annuities Exemption; Definitions; Qualified Charitable Gift Annuity; Payout Ratio; Approval. Amend RSA 403-E:1, V(c) to read as follows:
(c) Issues charitable gift annuities with payout ratios no greater than recommended by the American Council on Gift Annuities at the time of issuance, unless a higher payout ratio is approved by the attorney general;
2 Effective Date. This act shall take effect January 1, 2001.