TRENTON – Legislation sponsored by Senators Joseph Vitale and Nilsa Cruz-Perez exempting veterans’ organizations from nonprofit corporation annual report filing fees was signed into law today.
Under current law, nonprofit corporations must pay a $25 annual report filing fee; however, when the new law takes effect, veterans’ organizations which categorize as a nonprofit corporation will still file the annual required report but will be exempted from the filing fee.
“This is about veterans organizations saving money where they can,” said Senator Vitale (D-Middlesex). “We need to provide sufficient care to our veterans, and that includes the organizations that are working to help them. It is our hope that the money these organizations save will be dedicated directly to assisting and caring for the brave men and women who served our country.”
“I am very pleased to see this legislation signed into law,” said Senator Cruz-Perez (D-Camden/Gloucester). “Helping these organizations by exempting them from paying these fees is the right thing to do for those that provide valuable assistance to our veterans. It is a small gesture, but one way that we can show appreciation for their work.”
The law defines “veterans’ organization” to mean the American Legion, Veterans of Foreign Wars, or other veterans’ organizations chartered under federal law, or any service foundation of such an organization recognized in its bylaws.
A survey of veterans’ organizations provided by the Department of Military and Veterans Affairs resulted in a count of approximately 740 affiliates of veterans’ organizations in the State.
S-1307 cleared the Senate 39-0 in June and cleared the Assembly 75-0 in January. The law will take effect six months from today.