20A-11-301.   Legislative office candidate -- Campaign requirements.
     (1) Each legislative office candidate shall deposit each contribution and public service assistance received in one or more separate accounts in a financial institution that are dedicated only to that purpose.
     (2) A legislative office candidate may not deposit or mingle any contributions or public service assistance received into a personal or business account.
     (3) A legislative office candidate may not make any political expenditures prohibited by law.
     (4) If a person who is no longer a legislative candidate chooses not to expend the monies remaining in a campaign account, the person shall continue to file the year-end summary report required by Section 20A-11-302 until the statement of dissolution and final summary report required by Section 20A-11-304 are filed with the lieutenant governor.
     (5) (a) Except as provided in Subsection (5)(b) and Section 20A-11-402, a person who is no longer a legislative office candidate may not expend or transfer the monies in a campaign account in a manner that would cause the former legislative office candidate to recognize the monies as taxable income under federal tax law.
     (b) A person who is no longer a legislative office candidate may transfer the monies in a campaign account in a manner that would cause the former legislative office candidate to recognize the monies as taxable income under federal tax law if the transfer is made to a campaign account for federal office.
     (6) (a) As used in this Subsection (6) and Section 20A-11-303, "received" means:
     (i) for a cash contribution, that the cash is given to a legislative office candidate or a member of the candidate's personal campaign committee;
     (ii) for a contribution that is a negotiable instrument or check, that the negotiable instrument or check is negotiated; and
     (iii) for any other type of contribution, that any portion of the contribution's benefit inures to the legislative office candidate.
     (b) Each legislative office candidate shall report each contribution and public service assistance to the lieutenant governor within 30 days after the contribution or public service assistance is received.

Amended by Chapter 227, 2009 General Session
Amended by Chapter 361, 2009 General Session
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Last revised: Thursday, May 28, 2009