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H.B. 59 Enrolled

             1     

CAMPAIGN FINANCE REVISIONS

             2     
2010 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Chief Sponsor: Keith Grover

             5     
Senate Sponsor: Margaret Dayton

             6     
             7      LONG TITLE
             8      General Description:
             9          This bill modifies Title 20A, Chapter 11, Campaign and Financial Reporting
             10      Requirements by amending certain reporting periods.
             11      Highlighted Provisions:
             12          This bill:
             13          .    provides that all expenditures made by a corporation and a political issues
             14      committee must be reported as of five days instead of three days before the required
             15      filing date of the financial statement; and
             16          .    makes technical amendments.
             17      Monies Appropriated in this Bill:
             18          None
             19      Other Special Clauses:
             20          None
             21      Utah Code Sections Affected:
             22      AMENDS:
             23          20A-11-701, as last amended by Laws of Utah 2008, Chapter 14
             24          20A-11-802, as last amended by Laws of Utah 2008, Chapters 14 and 49
             25     
             26      Be it enacted by the Legislature of the state of Utah:
             27          Section 1. Section 20A-11-701 is amended to read:
             28           20A-11-701. Campaign financial reporting of candidate campaign contributions
             29      by corporations -- Filing requirements -- Statement contents.


             30          (1) (a) Each corporation that has made expenditures for political purposes that total at
             31      least $750 during a calendar year shall file a verified financial statement with the lieutenant
             32      governor's office on:
             33          (i) January 10, reporting expenditures as of December 31 of the previous year;
             34          (ii) August 31; and
             35          (iii) seven days before the regular general election.
             36          (b) The corporation shall report:
             37          (i) a detailed listing of all expenditures made since the last statement; and
             38          (ii) for financial statements filed on August 31 and before the general election, all
             39      expenditures as of [three] five days before the required filing date of the financial statement.
             40          (c) The corporation need not file a statement under this section if it made no
             41      expenditures during the reporting period.
             42          (2) That statement shall include:
             43          (a) the name and address of each reporting entity that received an expenditure from the
             44      corporation, and the amount of each expenditure;
             45          (b) the total amount of expenditures disbursed by the corporation; and
             46          (c) a paragraph signed by the corporation's or the political action committee's treasurer
             47      or chief financial officer verifying the accuracy of the financial report.
             48          Section 2. Section 20A-11-802 is amended to read:
             49           20A-11-802. Political issues committees -- Financial reporting.
             50          (1) (a) Each registered political issues committee that has received political issues
             51      contributions totaling at least $750, or disbursed political issues expenditures totaling at least
             52      $50, during a calendar year, shall file a verified financial statement with the lieutenant
             53      governor's office:
             54          (i) on January 10, reporting contributions and expenditures as of December 31 of the
             55      previous year;
             56          (ii) seven days before the date of an incorporation election, if the political issues
             57      committee has received donations or made disbursements to affect an incorporation;


             58          (iii) at least three days before the first public hearing held as required by Section
             59      20A-7-204.1 ;
             60          (iv) if the political issues committee has received or expended funds in relation to an
             61      initiative or referendum, at the time the initiative or referendum sponsors submit:
             62          (A) the verified and certified initiative packets as required by Section 20A-7-206 ; or
             63          (B) the signed and verified referendum packets as required by Section 20A-7-306 ;
             64          (v) on August 31; and
             65          (vi) seven days before the regular general election.
             66          (b) The political issues committee shall report:
             67          (i) a detailed listing of all contributions received and expenditures made since the last
             68      statement; and
             69          (ii) for financial statements filed on August 31 and before the general election, all
             70      contributions and expenditures as of [three] five days before the required filing date of the
             71      financial statement.
             72          (c) The political issues committee need not file a statement under this section if it
             73      received no contributions and made no expenditures during the reporting period.
             74          (2) (a) That statement shall include:
             75          (i) the name, address, and occupation of any individual that makes a political issues
             76      contribution to the reporting political issues committee, and the amount of the political issues
             77      contribution;
             78          (ii) the identification of any publicly identified class of individuals that makes a
             79      political issues contribution to the reporting political issues committee, and the amount of the
             80      political issues contribution;
             81          (iii) the name and address of any political issues committee, group, or entity that
             82      makes a political issues contribution to the reporting political issues committee, and the
             83      amount of the political issues contribution;
             84          (iv) the name and address of each reporting entity that makes a political issues
             85      contribution to the reporting political issues committee, and the amount of the political issues


             86      contribution;
             87          (v) for each nonmonetary contribution, the fair market value of the contribution;
             88          (vi) except as provided in Subsection (2)(c), the name and address of each individual,
             89      entity, or group of individuals or entities that received a political issues expenditure of more
             90      than $50 from the reporting political issues committee, and the amount of each political issues
             91      expenditure;
             92          (vii) for each nonmonetary expenditure, the fair market value of the expenditure;
             93          (viii) the total amount of political issues contributions received and political issues
             94      expenditures disbursed by the reporting political issues committee;
             95          (ix) a paragraph signed by the political issues committee's treasurer or chief financial
             96      officer verifying that, to the best of the signer's knowledge, the financial statement is accurate;
             97      and
             98          (x) a summary page in the form required by the lieutenant governor that identifies:
             99          (A) beginning balance;
             100          (B) total contributions during the period since the last statement;
             101          (C) total contributions to date;
             102          (D) total expenditures during the period since the last statement; and
             103          (E) total expenditures to date.
             104          (b) (i) Political issues contributions received by a political issues committee that have
             105      a value of $50 or less need not be reported individually, but shall be listed on the report as an
             106      aggregate total.
             107          (ii) Two or more political issues contributions from the same source that have an
             108      aggregate total of more than $50 may not be reported in the aggregate, but shall be reported
             109      separately.
             110          (c) When reporting political issue expenditures made to circulators of initiative
             111      petitions, the political issues committee:
             112          (i) need only report the amount paid to each initiative petition circulator; and
             113          (ii) need not report the name or address of the circulator.


             114     


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