On Thursday, June 28, the Massachusetts House and Senate each
voted to approve a $32.5 billion state budget bill. We had
previously
reported on an amendment to the budget that would have
prohibited the compensation of directors, independent officers and
trustees of public charities without the approval of the
Massachusetts attorney general. This amendment was not included in
the budget bill passed yesterday in the House and Senate.
Foley Hoag will continue to track legislative developments
affecting public charities and their officers and directors, and is
available to advise public charities of any resulting
implications.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.