HB 2595
Non Profit Athletics Act
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill, the Non-Profit Athletics Act, aims to allow West Virginia’s public colleges and universities to contract with private corporations to assist with operational, economic, fiscal, and educational development related to intercollegiate athletics. It seeks to streamline research grants and development opportunities by utilizing these corporations, while also permitting the transfer of real and personal property to qualifying organizations. The bill establishes specific requirements for these corporations, including a majority of voting directors being employees of the institution and limiting their involvement in athletics-related decisions.
Key provisions
- Allows state colleges and universities to contract with private corporations for athletic development.
- Limits voting corporate directors to employees of the institution or its affiliates.
- Authorizes the transfer of real and personal property to qualifying private corporations.
- Exempts activities of private corporations from certain state requirements.
- Corporations must be organized as non-profit, non-stock entities under the Internal Revenue Code.
- Requires corporations to have a majority of directors who are employees of the institution.
- Specifies that the assets of a dissolving corporation must be transferred to an exempt organization.
- Permits the use of both corporation employees and institution personnel.
Who is affected
- State Institutions of Higher Education
- Private Corporations
- Students
- Faculty
- Athletic Programs
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