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S.B. 162

This document includes Senate Committee Amendments incorporated into the bill on Tue, Feb 24, 2009 at 9:09 AM by rday. -->              1     

USE OF CAMPAIGN FUNDS AMENDMENTS

             2     
2009 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Chief Sponsor: John L. Valentine

             5     
House Sponsor: John Dougall

             6     

             7      LONG TITLE
             8      General Description:
             9          This bill prohibits the use of campaign and officeholder funds for a purpose that would
             10      result in the funds' recognition as taxable income under federal tax law.
             11      Highlighted Provisions:
             12          This bill:
             13          .    prohibits the use of campaign and officeholder funds for a purpose that would result
             14      in the candidate or officeholder recognizing the funds as taxable income under
             15      federal tax law; and
             16          .    makes technical changes.
             17      Monies Appropriated in this Bill:
             18          None
             19      Other Special Clauses:
             20          None
             21      Utah Code Sections Affected:
             22      AMENDS:
             23          20A-11-201, as last amended by Laws of Utah 1997, Chapter 355
             24          20A-11-301, as last amended by Laws of Utah 1997, Chapter 355
             25          20A-11-402, as last amended by Laws of Utah 1997, Chapter 355
             26          20A-11-1301, as enacted by Laws of Utah 1997, Chapter 355
             27     



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     Be it enacted by the Legislature of the state of Utah:
             29          Section 1. Section 20A-11-201 is amended to read:
             30           20A-11-201. State office candidate -- Separate bank account for campaign funds.
             31          (1) (a) Each state office candidate or the candidate's personal campaign committee
             32      shall deposit each contribution and public service assistance received in one or more separate
             33      campaign accounts in a financial institution.
             34          (b) The state office candidate or the candidate's personal campaign committee may use
             35      the monies in those accounts only for political purposes.
             36          (2) A state office candidate or the candidate's personal campaign committee may not
             37      deposit or mingle any contributions received into a personal or business account.
             38          (3) If a person who is no longer a state office candidate chooses not to expend the
             39      monies remaining in [his] a campaign account, the person shall continue to file the year-end
             40      summary report required by Section 20A-11-203 until the statement of dissolution and final
             41      summary report required by Section 20A-11-205 are filed with the lieutenant governor.
             42          (4) S. [ A ] (a) Except as provided in Subsection (4)(b) and Section 20A-11-402, a .S
             42a      person who is no longer a state office candidate may not expend or transfer the
             43      monies in a campaign account in a manner that would cause the former state office candidate to
             44      recognize the monies as taxable income under federal tax law.
             44a      S. (b) A person who is no longer a state office candidate may transfer the monies in a
             44b      campaign account in a manner that would cause the former state office candidate to recognize
             44c      the monies as taxable income under federal tax law if the transfer is made to a campaign
             44d      account for federal office. .S
             45          Section 2. Section 20A-11-301 is amended to read:
             46           20A-11-301. Legislative office candidate -- Campaign requirements.
             47          (1) Each legislative office candidate shall deposit each contribution and public service
             48      assistance received in one or more separate accounts in a financial institution that are dedicated
             49      only to that purpose.
             50          (2) A legislative office candidate may not deposit or mingle any contributions or public
             51      service assistance received into a personal or business account.
             52          (3) A legislative office candidate may not make any political expenditures prohibited
             53      by law.
             54          (4) If a person who is no longer a legislative candidate chooses not to expend the
             55      monies remaining in [his] a campaign account, the person shall continue to file the year-end
             56      summary report required by Section 20A-11-302 until the statement of dissolution and final


            
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     summary report required by Section 20A-11-304 are filed with the lieutenant governor.
             58          (5) S. [ A ] (a) Except as provided in Subsection (5)(b) and Section 20A-11-402, a .S person who is no longer a legislative office candidate may not expend or transfer



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             59
     the monies in a campaign account in a manner that would cause the former legislative office
             60      candidate to recognize the monies as taxable income under federal tax law.
             60a      S. (b) A person who is no longer a legislative office candidate may transfer the monies in a
             60b      campaign account in a manner that would cause the former legislative office candidate to
             60c      recognize the monies as taxable income under federal tax law if the transfer is made to a
             60d      campaign account for federal office. .S
             61          Section 3. Section 20A-11-402 is amended to read:
             62           20A-11-402. Officeholder financial reporting requirements -- Termination of
             63      duty to report.
             64          (1) An officeholder is active and subject to reporting requirements until the
             65      officeholder has filed a statement of dissolution with the lieutenant governor stating that:
             66          (a) the officeholder is no longer receiving contributions or public service assistance and
             67      is no longer making expenditures;
             68          (b) the ending balance on the last summary report filed is zero and the balance in the
             69      separate bank account required by Sections 20A-11-201 and 20A-11-301 is zero; and
             70          (c) a final summary report in the form required by Section 20A-11-401 showing a zero
             71      balance is attached to the statement of dissolution.
             72          (2) A statement of dissolution and a final summary report may be filed at any time.
             73          (3) Each officeholder shall continue to file the year-end summary report required by
             74      Section 20A-11-401 until the statement of dissolution and final summary report required by
             75      this section are filed with the lieutenant governor.
             76          (4) S. [ A ] (a) Except as provided in Subsection (4)(b), a .S person who is no longer an
             76a      officeholder may not expend or transfer the monies in
             77      a campaign account in a manner that would cause the former officeholder to recognize the
             78      monies as taxable income under federal tax law.
             78a      S. (b) A person who is no longer an officeholder may transfer the monies in a campaign
             78b      account in a manner that would cause the former officeholder to recognize the monies as
             78c      taxable income under federal tax law if the transfer is made to a campaign account for federal
             78d      office. .S
             79          Section 4. Section 20A-11-1301 is amended to read:
             80           20A-11-1301. School board office candidate -- Campaign requirements.
             81          (1) Each school board office candidate shall deposit each contribution and public
             82      service assistance received in one or more separate accounts in a financial institution that are
             83      dedicated only to that purpose.


            
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         (2) A school board office candidate may not deposit or mingle any contributions or
             85      public service assistance received into a personal or business account.
             86          (3) A school board office candidate may not make any political expenditures prohibited
             87      by law.
             88          (4) If a person who is no longer a school board candidate chooses not to expend the
             89      monies remaining in [his] a campaign account, the person shall continue to file the year-end



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             90
     summary report required by Section 20A-11-1302 until the statement of dissolution and final
             91      summary report required by Section 20A-11-1304 are filed with:
             92          (a) the lieutenant governor in the case of a state school board candidate; and
             93          (b) the county clerk, in the case of a local school board candidate.
             94          (5) S. [ A ] (a) Except as provided in Subsection (5)(a) and Section 20A-11-402, a .S
             94a      person who is no longer a school board candidate may not expend or transfer the
             95      monies in a campaign account in a manner that would cause the former school board candidate
             96      to recognize the monies as taxable income under federal tax law.
             96a      S. (b) A person who is no longer a school board candidate may transfer the monies in a
             96b      campaign account in a manner that would cause the former school board candidate to
             96c      recognize the monies as taxable income under federal tax law if the transfer is made to a
             96d      campaign account for federal office. .S





Legislative Review Note
    as of 2-3-09 1:12 PM


Office of Legislative Research and General Counsel


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