20A-11-802.   Political issues committees -- Financial reporting.
     (1) (a) Each registered political issues committee that has received political issues contributions totaling at least $750, or disbursed political issues expenditures totaling at least $50, during a calendar year, shall file a verified financial statement with the lieutenant governor's office:
     (i) on January 10, reporting contributions and expenditures as of December 31 of the previous year;
     (ii) seven days before the date of an incorporation election, if the political issues committee has received donations or made disbursements to affect an incorporation;
     (iii) at least three days before the first public hearing held as required by Section 20A-7-204.1;
     (iv) if the political issues committee has received or expended funds in relation to an initiative or referendum, at the time the initiative or referendum sponsors submit:
     (A) the verified and certified initiative packets as required by Section 20A-7-206; or
     (B) the signed and verified referendum packets as required by Section 20A-7-306;
     (v) on August 31; and
     (vi) seven days before the regular general election.
     (b) The political issues committee shall report:
     (i) a detailed listing of all contributions received and expenditures made since the last statement; and
     (ii) for financial statements filed on August 31 and before the general election, all contributions and expenditures as of three days before the required filing date of the financial statement.
     (c) The political issues committee need not file a statement under this section if it received no contributions and made no expenditures during the reporting period.
     (2) (a) That statement shall include:
     (i) the name, address, and occupation of any individual that makes a political issues contribution to the reporting political issues committee, and the amount of the political issues contribution;
     (ii) the identification of any publicly identified class of individuals that makes a political issues contribution to the reporting political issues committee, and the amount of the political issues contribution;
     (iii) the name and address of any political issues committee, group, or entity that makes a political issues contribution to the reporting political issues committee, and the amount of the political issues contribution;
     (iv) the name and address of each reporting entity that makes a political issues contribution to the reporting political issues committee, and the amount of the political issues contribution;
     (v) for each nonmonetary contribution, the fair market value of the contribution;
     (vi) except as provided in Subsection (2)(c), the name and address of each individual, entity, or group of individuals or entities that received a political issues expenditure of more than $50 from the reporting political issues committee, and the amount of each political issues expenditure;
     (vii) for each nonmonetary expenditure, the fair market value of the expenditure;
     (viii) the total amount of political issues contributions received and political issues

expenditures disbursed by the reporting political issues committee;
     (ix) a paragraph signed by the political issues committee's treasurer or chief financial officer verifying that, to the best of the signer's knowledge, the financial statement is accurate; and
     (x) a summary page in the form required by the lieutenant governor that identifies:
     (A) beginning balance;
     (B) total contributions during the period since the last statement;
     (C) total contributions to date;
     (D) total expenditures during the period since the last statement; and
     (E) total expenditures to date.
     (b) (i) Political issues contributions received by a political issues committee that have a value of $50 or less need not be reported individually, but shall be listed on the report as an aggregate total.
     (ii) Two or more political issues contributions from the same source that have an aggregate total of more than $50 may not be reported in the aggregate, but shall be reported separately.
     (c) When reporting political issue expenditures made to circulators of initiative petitions, the political issues committee:
     (i) need only report the amount paid to each initiative petition circulator; and
     (ii) need not report the name or address of the circulator.

Amended by Chapter 14, 2008 General Session
Amended by Chapter 49, 2008 General Session
Download Code Section Zipped WordPerfect 20A11_080200.ZIP 4,089 Bytes

Sections in this Chapter|Chapters in this Title|All Titles|Legislative Home Page

Last revised: Thursday, May 28, 2009