Texas Financial Audit Proposal May Impact Some Religious Ministries

The Baptist Standard reports today on a bill pending in the Texas legislature (H.B. 3417) designed to impose new accounting requirements on charitable organizations. If enacted, the law which will require annual financial audits of many larger non-profits, and more elaborate unaudited statements from others, will apply to some religious groups. While it exempts schools and places of worship where regular services are held, the bill's requirements will probably apply to separate entites created by churches to carry out community ministries, claims an official of the Baptist General Convention.