Tuesday, February 21, 2012

AB 224 Awaits Governor's Signature: Allows Gift Transfers

A bill recently approved by the legislature, AB 224, authorizes school boards and school libraries to transfer an unrestricted gift or grant to certain charitable organizations, such as a school foundation or a community foundation. The bill, introduced by Rep. Dean Kaufert (R-Neenah) awaits the governor's signature to become law.

WLA also supported an earlier bill that would give public libraries the same authority to transfer gifts and grants to a library-related foundation or friends group. AB 224 would clarify that public libraries may also transfer this type of funding to a community foundation. The money must be used for a library-related purpose - or in the case of a transfer by a school, for a school-related purpose.

The bill would provide more flexibility to schools and libraries in the management and investment of such funds. WLA urges Governor Walker to sign the bill.

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