Non-Profit Revitalization Act of 2013 Substantially Revises New York Not-for-Profit Corporation Law
In December 2013, Governor Cuomo signed the Non-Profit Revitalization Act of 2013, the first substantial modification of New York’s non-profit laws in more than 40 years. The Act, most of whose provisions are effective July 1, 2014, strengthens the governance practices of nonprofit organizations, both not-for-profit corporations and wholly charitable trusts; eliminates unnecessary administrative and procedural burdens, which, among other things, will facilitate the expedient establishment of not-for-profit corporations in New York; and expands the enforcement powers of the Attorney General.