Montana legislation · 2025 Regular Session
Montana SB134: Generally revise laws relating to gifts and endowments
Status: Signed into law, April 18, 2025
What the bill says
An act creating the safeguarding endowment gifts act; providing definitions; providing protections afforded to endowments and gifts to certain entities; providing requirements for certain entities relating to endowments and gifts; and providing an immediate effective date and a retroactive applicability date.
From the engrossed text:
AN ACT CREATING THE SAFEGUARDING ENDOWMENT GIFTS ACT; PROVIDING DEFINITIONS; PROVIDING PROTECTIONS AFFORDED TO ENDOWMENTS AND GIFTS TO CERTAIN ENTITIES; PROVIDING REQUIREMENTS FOR CERTAIN ENTITIES RELATING TO ENDOWMENTS AND GIFTS; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE AND A RETROACTIVE APPLICABILITY DATE. Section 1. Short title -- purpose. (1) [Sections 1 through 3] may be cited as the "Safeguarding Endowment Gifts Act". (2) [Sections 1 through 3] are necessary to provide legal recourse to individual charitable donors when their giving restrictions are not followed by a recipient charitable organization according to an endowment agreement. Section 2. Definitions. For the purposes of [sections 1 through 3], the following definitions apply: (1) "Charitable organization" means an organization arranged and operated exclusively for religious, charitable, scientific, literary, educational, or other specified purposes or for testing for public safety and that has a tax-exempt designation under the provisions of section 501(c)(3) of the Internal Revenue Code, 26 U.S.C. 501(c)(3). (2) "Donor" means an individual or entity who has made a contribution of property or money to either an existing endowment fund or a new endowment fund of a charitable organization or of a charitable trust pursuant to the terms of an endowment agreement that may include donor-imposed restrictions governing the use of the contribution. (3) "Donor-imposed restriction" means a written statement within an endowment agreement …
Sponsors
- Hertz, Greg (R, 7) · primary sponsor
- Overstreet, Greg (R, 88)
Latest actions
- : Chapter Number Assigned
- : (S) Signed by Governor
- : (S) Transmitted to Governor
- : (H) Signed by Speaker
- : (S) Signed by President
- : (S) Returned from Enrolling
- : (S) Sent to Enrolling
- : (H) 3rd Reading
- : (H) Scheduled for 3rd Reading
- : (H) 2nd Reading
Votes
- Do Concur (March 28, 2025): 81 yea, 18 nay, passed
- Do Concur (March 27, 2025): 79 yea, 21 nay, passed
- Do Pass (February 14, 2025): 33 yea, 17 nay, passed
- Do Pass As Amended (February 12, 2025): 45 yea, 5 nay, passed
- AMD-SB0134.002.001 Hertz D/PASS (February 12, 2025): 48 yea, 1 nay, passed
Subjects: Estates, Contracts
Common questions
- What is SB134?
- SB134 is a bill in the Montana Legislature (2025 Regular Session): Generally revise laws relating to gifts and endowments.
- What does SB134 do?
- In its own words: An act creating the safeguarding endowment gifts act; providing definitions; providing protections afforded to endowments and gifts to certain entities; providing requirements for certain entities relating to endowments and gifts; and providing an immediate effective date and a retroactive applicability date.
- What is the status of SB134?
- Signed into law as of April 18, 2025. Latest action: Chapter Number Assigned (April 18, 2025).
- Who sponsored SB134?
- Hertz, Greg (R, 7), with 1 co-sponsor.
- Where is the official record for SB134?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC1823
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.