H 4662 — Regulation of charitable funds

2025-2026 Bill 4662 Text of Previous Version (Mar.(Dec.

24,17, 2026)2025) - South Carolina Legislature Online South Carolina General Assembly126th Session, 2025-2026Bill 4662Indicates Matter StrickenIndicates New Matter(Text matches printed bills.

Document has been reformatted to meet World Wide Web specifications.) Indicates  Matter  Stricken  Indicates  New  Matter    Committee  ReportA Marchbill 24,  2026TO  AMEND H.THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 33-56-50, RELATING TO ORGANIZATIONS EXEMPT FROM REGISTRATION PROVISIONS, SO AS TO REGULATE CHARITABLE ORGANIZATIONS THAT SOLICIT, COLLECT, EARN, OR RECEIVE MORE THAN A STATED AMOUNT IN A FISCAL YEAR THAT REGISTER WITH THE SECRETARY OF STATE BY INCREASING REPORT REQUIREMENTS;

4662   Introduced by Reps.

Wooten, Wetmore, Pope and Oremus   S.

Printed 3/24/26--H.

Read the first time January 13, 2026   ________   The committee on House Labor, Commerce and Industry To whom was referred a Bill (H.

4662) to amend the South Carolina Code of Laws by amending Section 33-56-50, relating to organizations exempt from registration provisions, so as to regulate charitable, etc., respectfully Report:

That they have duly and carefully considered the same, and recommend that the same do pass:

  WILLIAM HERBKERSMAN for Committee.

    statement of estimated fiscal impact Explanation of Fiscal Impact State Expenditure This bill modifies the limits under which charitable organizations are exempt from filing registration statements with the Secretary of State.

Currently, a charitable organization whose fundraising activities are not conducted by professional solicitors, professional fundraising counsel, or commercial co-venturers is exempt from registration requirements with the Secretary of State's Office if they do not intend to solicit or receive contributions from the public in excess of $20,000.

All charitable organizations, regardless of whether or not fundraising activities are conducted by professional solicitors, professional fundraising counsel, or commercial co-venturers are exempt from registration requirements with the Secretary of State's Office if they do not intend to solicit or receive contributions from the public in excess of $7,500.

Under this bill, a charitable organization whose fundraising activities are not conducted by professional solicitors, professional fundraising counsel, or commercial co-venturers is exempt from registration requirements with the Secretary of State's Office if they do not solicit, collect, earn, or receive gross revenue in excess of $25,000 per fiscal year.

The bill further states that all charitable organizations, regardless of whether or not fundraising activities are conducted by professional solicitors, professional fundraising counsel, or commercial co-venturers are exempt from registration requirements with the Secretary of State's Office if they do not solicit, collect, earn, or receive gross revenue in excess of $10,000 per fiscal year.

If the gross revenue solicited, collected, earned, or received by an organization exceeds the limit established by the bill, the organization must register with the Secretary of State within thirty days.

The bill further establishes a registration exemption for professional co-venturers receiving charitable funds for a contribution campaign in the amount of $10,000 or less per solicitation campaign.

Currently, §33-56-110 requires all professional co-venturers to register with the Secretary of State, regardless of the amount of funds received per solicitation campaign.

The bill also clarifies several registration requirements for professional fundraising counsel, professional solicitors, or commercial co-venturers, and requires the disclosure of the legal name and purpose of a charitable organization at the initial time of solicitation.

The Secretary of State's Office indicates that the implementation of the bill will be managed with existing staff and resources and will have no expenditure impact on the office.

  State Revenue This bill modifies the limits under which charitable organizations are exempt from filing registration statements with the Secretary of State from $20,000 in charitable contributions to $25,000 in gross revenue or $7,500 in charitable contributions to $10,000 in gross revenue depending on the type of fundraising activities and establishes a registration exemption for professional co-venturers receiving charitable funds for a contribution campaign in the amount of $10,000 or less per solicitation campaign.

This bill may reduce Other Funds fee revenue for the Secretary of State's Office by exempting more charitable organizations and commercial co-venturers from registration requirements.

Currently, under §33-56-160, all administrative fees charged for the registration of charitable organizations as well as professional coventurers are retained by the office for administrative purposes and totaled $913,800 in FY 2024-25.

However, the Secretary of State's Office anticipates that the reduction in fee revenue as a result of the bill will be minimal.

    Frank A.

Rainwater, Executive Director Revenue and Fiscal Affairs Office   _______                 A bill   TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 33-56-50, RELATING TO ORGANIZATIONS EXEMPT FROM REGISTRATION PROVISIONS, SO AS TO REGULATE CHARITABLE ORGANIZATIONS THAT SOLICIT, COLLECT, EARN, OR RECEIVE MORE THAN A STATED AMOUNT IN A FISCAL YEAR THAT REGISTER WITH THE SECRETARY OF STATE BY INCREASING REPORT REQUIREMENTS;

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