The proposed bill introduces the Truth in Giving Act to the Code of West Virginia, establishing new regulations for thrift operators regarding the disclosure of information to donors and customers. It defines key terms such as "charitable organization," "drop box," and "thrift operator," and mandates that thrift operators disclose whether donations benefit non-profit organizations or for-profit businesses. Specifically, thrift operators that are charitable organizations or 501(c)(3) tax-exempt organizations must provide their name, address, and contact information to donors and customers. For those that are not, they must disclose their ownership and include a statement indicating that donations support a for-profit business.

The bill also outlines enforcement mechanisms, including the authority of the Secretary of State to investigate violations and impose criminal and civil penalties for non-compliance. Violators may face fines or imprisonment, with penalties increasing for repeat offenses. Additionally, the bill stipulates that recovered funds from enforcement actions will be split between the state General Revenue Fund and the Secretary of State's operational account. Finally, it grants the Secretary of State the power to propose rules to implement the provisions of the Act effectively.

Statutes affected:
Introduced Version: 29-19A-1, 29-19A-2, 29-19A-3, 29-19A-4, 29-19A-5
Committee Substitute: 29-19A-1, 29-19A-2, 29-19A-3, 29-19A-4, 29-19A-5
Engrossed Committee Substitute: 29-19A-1, 29-19A-2, 29-19A-3, 29-19A-4, 29-19A-5