❌ SB12
Regards community foundation charitable and institutional funds
Current Status: In Senate Committee (Finance)
Summary
The bill allows community foundations to create component funds from charitable funds received by public schools and classifies some funds held by community foundations as institutional funds. It establishes conditions under which these funds must be returned to the community schools if certain criteria are met, such as the community foundation no longer meeting specific requirements or being liquidated.
Rationale
The bill involves increased government control over charitable funds and education, which conflicts with Libertarian principles advocating for minimal government intervention and free market solutions in education. Both LP and LPO platforms emphasize individual rights and limited government, which this bill does not support.
Risks and Concerns
- Increased government control over charitable donations
- Potential for mismanagement of funds by government entities
- Restrictions on the autonomy of community foundations