Representative Brian M. Greene proposes the following substitute bill:


1     
POLITICAL ISSUES COMMITTEE AMENDMENTS

2     
2015 GENERAL SESSION

3     
STATE OF UTAH

4     
Chief Sponsor: Brian M. Greene

5     
Senate Sponsor: Alvin B. Jackson

6     

7     LONG TITLE
8     General Description:
9          This bill amends the Election Code in relation to the definition of, and the requirements
10     placed on, a political issues committee.
11     Highlighted Provisions:
12          This bill:
13          ▸     provides that a political issues committee does not include certain associations of
14     individuals who seek to challenge a single ballot proposition, ordinance, or other
15     governmental action of a county, city, town, local district, special service district, or
16     other local political subdivision of the state; and
17          ▸     changes the amount of political issues expenditures that trigger the requirement for
18     a political issues committee to file a statement of organization and a financial
19     report.
20     Money Appropriated in this Bill:
21          None
22     Other Special Clauses:
23          None
24     Utah Code Sections Affected:
25     AMENDS:

26          20A-11-101, as last amended by Laws of Utah 2014, Chapters 18, 158, and 337
27          20A-11-801, as last amended by Laws of Utah 2008, Chapter 225
28          20A-11-802, as last amended by Laws of Utah 2013, Chapter 420
29     

30     Be it enacted by the Legislature of the state of Utah:
31          Section 1. Section 20A-11-101 is amended to read:
32          20A-11-101. Definitions.
33          As used in this chapter:
34          (1) "Address" means the number and street where an individual resides or where a
35     reporting entity has its principal office.
36          (2) "Agent of a reporting entity" means:
37          (a) a person acting on behalf of a reporting entity at the direction of the reporting
38     entity;
39          (b) a person employed by a reporting entity in the reporting entity's capacity as a
40     reporting entity;
41          (c) the personal campaign committee of a candidate or officeholder;
42          (d) a member of the personal campaign committee of a candidate or officeholder in the
43     member's capacity as a member of the personal campaign committee of the candidate or
44     officeholder; or
45          (e) a political consultant of a reporting entity.
46          (3) "Ballot proposition" includes initiatives, referenda, proposed constitutional
47     amendments, and any other ballot propositions submitted to the voters that are authorized by
48     the Utah Code Annotated 1953.
49          (4) "Candidate" means any person who:
50          (a) files a declaration of candidacy for a public office; or
51          (b) receives contributions, makes expenditures, or gives consent for any other person to
52     receive contributions or make expenditures to bring about the person's nomination or election
53     to a public office.
54          (5) "Chief election officer" means:
55          (a) the lieutenant governor for state office candidates, legislative office candidates,
56     officeholders, political parties, political action committees, corporations, political issues

57     committees, state school board candidates, judges, and labor organizations, as defined in
58     Section 20A-11-1501; and
59          (b) the county clerk for local school board candidates.
60          (6) (a) "Contribution" means any of the following when done for political purposes:
61          (i) a gift, subscription, donation, loan, advance, or deposit of money or anything of
62     value given to the filing entity;
63          (ii) an express, legally enforceable contract, promise, or agreement to make a gift,
64     subscription, donation, unpaid or partially unpaid loan, advance, or deposit of money or
65     anything of value to the filing entity;
66          (iii) any transfer of funds from another reporting entity to the filing entity;
67          (iv) compensation paid by any person or reporting entity other than the filing entity for
68     personal services provided without charge to the filing entity;
69          (v) remuneration from:
70          (A) any organization or its directly affiliated organization that has a registered lobbyist;
71     or
72          (B) any agency or subdivision of the state, including school districts;
73          (vi) a loan made by a candidate deposited to the candidate's own campaign; and
74          (vii) in-kind contributions.
75          (b) "Contribution" does not include:
76          (i) services provided by individuals volunteering a portion or all of their time on behalf
77     of the filing entity if the services are provided without compensation by the filing entity or any
78     other person;
79          (ii) money lent to the filing entity by a financial institution in the ordinary course of
80     business; or
81          (iii) goods or services provided for the benefit of a candidate or political party at less
82     than fair market value that are not authorized by or coordinated with the candidate or political
83     party.
84          (7) "Coordinated with" means that goods or services provided for the benefit of a
85     candidate or political party are provided:
86          (a) with the candidate's or political party's prior knowledge, if the candidate or political
87     party does not object;

88          (b) by agreement with the candidate or political party;
89          (c) in coordination with the candidate or political party; or
90          (d) using official logos, slogans, and similar elements belonging to a candidate or
91     political party.
92          (8) (a) "Corporation" means a domestic or foreign, profit or nonprofit, business
93     organization that is registered as a corporation or is authorized to do business in a state and
94     makes any expenditure from corporate funds for:
95          (i) the purpose of expressly advocating for political purposes; or
96          (ii) the purpose of expressly advocating the approval or the defeat of any ballot
97     proposition.
98          (b) "Corporation" does not mean:
99          (i) a business organization's political action committee or political issues committee; or
100          (ii) a business entity organized as a partnership or a sole proprietorship.
101          (9) "County political party" means, for each registered political party, all of the persons
102     within a single county who, under definitions established by the political party, are members of
103     the registered political party.
104          (10) "County political party officer" means a person whose name is required to be
105     submitted by a county political party to the lieutenant governor in accordance with Section
106     20A-8-402.
107          (11) "Detailed listing" means:
108          (a) for each contribution or public service assistance:
109          (i) the name and address of the individual or source making the contribution or public
110     service assistance;
111          (ii) the amount or value of the contribution or public service assistance; and
112          (iii) the date the contribution or public service assistance was made; and
113          (b) for each expenditure:
114          (i) the amount of the expenditure;
115          (ii) the person or entity to whom it was disbursed;
116          (iii) the specific purpose, item, or service acquired by the expenditure; and
117          (iv) the date the expenditure was made.
118          (12) (a) "Donor" means a person that gives money, including a fee, due, or assessment

119     for membership in the corporation, to a corporation without receiving full and adequate
120     consideration for the money.
121          (b) "Donor" does not include a person that signs a statement that the corporation may
122     not use the money for an expenditure or political issues expenditure.
123          (13) "Election" means each:
124          (a) regular general election;
125          (b) regular primary election; and
126          (c) special election at which candidates are eliminated and selected.
127          (14) "Electioneering communication" means a communication that:
128          (a) has at least a value of $10,000;
129          (b) clearly identifies a candidate or judge; and
130          (c) is disseminated through the Internet, newspaper, magazine, outdoor advertising
131     facility, direct mailing, broadcast, cable, or satellite provider within 45 days of the clearly
132     identified candidate's or judge's election date.
133          (15) (a) "Expenditure" means any of the following made by a reporting entity or an
134     agent of a reporting entity on behalf of the reporting entity:
135          (i) any disbursement from contributions, receipts, or from the separate bank account
136     required by this chapter;
137          (ii) a purchase, payment, donation, distribution, loan, advance, deposit, gift of money,
138     or anything of value made for political purposes;
139          (iii) an express, legally enforceable contract, promise, or agreement to make any
140     purchase, payment, donation, distribution, loan, advance, deposit, gift of money, or anything of
141     value for political purposes;
142          (iv) compensation paid by a filing entity for personal services rendered by a person
143     without charge to a reporting entity;
144          (v) a transfer of funds between the filing entity and a candidate's personal campaign
145     committee; or
146          (vi) goods or services provided by the filing entity to or for the benefit of another
147     reporting entity for political purposes at less than fair market value.
148          (b) "Expenditure" does not include:
149          (i) services provided without compensation by individuals volunteering a portion or all

150     of their time on behalf of a reporting entity;
151          (ii) money lent to a reporting entity by a financial institution in the ordinary course of
152     business; or
153          (iii) anything listed in Subsection (15)(a) that is given by a reporting entity to
154     candidates for office or officeholders in states other than Utah.
155          (16) "Federal office" means the office of president of the United States, United States
156     Senator, or United States Representative.
157          (17) "Filing entity" means the reporting entity that is required to file a financial
158     statement required by this chapter or Chapter 12, Part 2, Judicial Retention Elections.
159          (18) "Financial statement" includes any summary report, interim report, verified
160     financial statement, or other statement disclosing contributions, expenditures, receipts,
161     donations, or disbursements that is required by this chapter or Chapter 12, Part 2, Judicial
162     Retention Elections.
163          (19) "Governing board" means the individual or group of individuals that determine the
164     candidates and committees that will receive expenditures from a political action committee,
165     political party, or corporation.
166          (20) "Incorporation" means the process established by Title 10, Chapter 2, Part 1,
167     Incorporation, by which a geographical area becomes legally recognized as a city or town.
168          (21) "Incorporation election" means the election authorized by Section 10-2-111 or
169     10-2-127.
170          (22) "Incorporation petition" means a petition authorized by Section 10-2-109 or
171     10-2-125.
172          (23) "Individual" means a natural person.
173          (24) "In-kind contribution" means anything of value, other than money, that is accepted
174     by or coordinated with a filing entity.
175          (25) "Interim report" means a report identifying the contributions received and
176     expenditures made since the last report.
177          (26) "Legislative office" means the office of state senator, state representative, speaker
178     of the House of Representatives, president of the Senate, and the leader, whip, and assistant
179     whip of any party caucus in either house of the Legislature.
180          (27) "Legislative office candidate" means a person who:

181          (a) files a declaration of candidacy for the office of state senator or state representative;
182          (b) declares oneself to be a candidate for, or actively campaigns for, the position of
183     speaker of the House of Representatives, president of the Senate, or the leader, whip, and
184     assistant whip of any party caucus in either house of the Legislature; or
185          (c) receives contributions, makes expenditures, or gives consent for any other person to
186     receive contributions or make expenditures to bring about the person's nomination, election, or
187     appointment to a legislative office.
188          (28) "Major political party" means either of the two registered political parties that
189     have the greatest number of members elected to the two houses of the Legislature.
190          (29) "Officeholder" means a person who holds a public office.
191          (30) "Party committee" means any committee organized by or authorized by the
192     governing board of a registered political party.
193          (31) "Person" means both natural and legal persons, including individuals, business
194     organizations, personal campaign committees, party committees, political action committees,
195     political issues committees, and labor organizations, as defined in Section 20A-11-1501.
196          (32) "Personal campaign committee" means the committee appointed by a candidate to
197     act for the candidate as provided in this chapter.
198          (33) "Personal use expenditure" has the same meaning as provided under Section
199     20A-11-104.
200          (34) (a) "Political action committee" means an entity, or any group of individuals or
201     entities within or outside this state, a major purpose of which is to:
202          (i) solicit or receive contributions from any other person, group, or entity for political
203     purposes; or
204          (ii) make expenditures to expressly advocate for any person to refrain from voting or to
205     vote for or against any candidate or person seeking election to a municipal or county office.
206          (b) "Political action committee" includes groups affiliated with a registered political
207     party but not authorized or organized by the governing board of the registered political party
208     that receive contributions or makes expenditures for political purposes.
209          (c) "Political action committee" does not mean:
210          (i) a party committee;
211          (ii) any entity that provides goods or services to a candidate or committee in the regular

212     course of its business at the same price that would be provided to the general public;
213          (iii) an individual;
214          (iv) individuals who are related and who make contributions from a joint checking
215     account;
216          (v) a corporation, except a corporation a major purpose of which is to act as a political
217     action committee; or
218          (vi) a personal campaign committee.
219          (35) (a) "Political consultant" means a person who is paid by a reporting entity, or paid
220     by another person on behalf of and with the knowledge of the reporting entity, to provide
221     political advice to the reporting entity.
222          (b) "Political consultant" includes a circumstance described in Subsection (35)(a),
223     where the person:
224          (i) has already been paid, with money or other consideration;
225          (ii) expects to be paid in the future, with money or other consideration; or
226          (iii) understands that the person may, in the discretion of the reporting entity or another
227     person on behalf of and with the knowledge of the reporting entity, be paid in the future, with
228     money or other consideration.
229          (36) "Political convention" means a county or state political convention held by a
230     registered political party to select candidates.
231          (37) (a) "Political issues committee" means an entity, or any group of individuals or
232     entities within or outside this state, a major purpose of which is to:
233          (i) solicit or receive donations from any other person, group, or entity to assist in
234     placing a ballot proposition on the ballot, assist in keeping a ballot proposition off the ballot, or
235     to advocate that a voter refrain from voting or vote for or vote against any ballot proposition;
236          (ii) make expenditures to expressly advocate for any person to sign or refuse to sign a
237     ballot proposition or incorporation petition or refrain from voting, vote for, or vote against any
238     proposed ballot proposition or an incorporation in an incorporation election; or
239          (iii) make expenditures to assist in qualifying or placing a ballot proposition on the
240     ballot or to assist in keeping a ballot proposition off the ballot.
241          (b) "Political issues committee" does not mean:
242          (i) a registered political party or a party committee;

243          (ii) any entity that provides goods or services to an individual or committee in the
244     regular course of its business at the same price that would be provided to the general public;
245          (iii) an individual;
246          (iv) individuals who are related and who make contributions from a joint checking
247     account; [or]
248          (v) a corporation, except a corporation a major purpose of which is to act as a political
249     issues committee[.]; or
250          (vi) a group of individuals who:
251          (A) associate together for the purpose of challenging a single ballot proposition,
252     ordinance, or other governmental action by a county, city, town, local district, special service
253     district, or other local political subdivision of the state;
254          (B) have a common liberty, property, or financial interest that is directly impacted by
255     the ballot proposition, ordinance, or other governmental action;
256          (C) do not associate together, for the purpose described in Subsection (37)(b)(vi)(A),
257     via a legal entity;
258          (D) do not receive funds for challenging the ballot proposition, ordinance, or other
259     governmental action from a person other than an individual in the group; and
260          (E) do not expend a total of more than $10,000 for the purpose described in Subsection
261     (37)(b)(vi)(A).
262          (38) (a) "Political issues contribution" means any of the following:
263          (i) a gift, subscription, unpaid or partially unpaid loan, advance, or deposit of money or
264     anything of value given to a political issues committee;
265          (ii) an express, legally enforceable contract, promise, or agreement to make a political
266     issues donation to influence the approval or defeat of any ballot proposition;
267          (iii) any transfer of funds received by a political issues committee from a reporting
268     entity;
269          (iv) compensation paid by another reporting entity for personal services rendered
270     without charge to a political issues committee; and
271          (v) goods or services provided to or for the benefit of a political issues committee at
272     less than fair market value.
273          (b) "Political issues contribution" does not include:

274          (i) services provided without compensation by individuals volunteering a portion or all
275     of their time on behalf of a political issues committee; or
276          (ii) money lent to a political issues committee by a financial institution in the ordinary
277     course of business.
278          (39) (a) "Political issues expenditure" means any of the following when made by a
279     political issues committee or on behalf of a political issues committee by an agent of the
280     reporting entity:
281          (i) any payment from political issues contributions made for the purpose of influencing
282     the approval or the defeat of:
283          (A) a ballot proposition; or
284          (B) an incorporation petition or incorporation election;
285          (ii) a purchase, payment, distribution, loan, advance, deposit, or gift of money made for
286     the express purpose of influencing the approval or the defeat of:
287          (A) a ballot proposition; or
288          (B) an incorporation petition or incorporation election;
289          (iii) an express, legally enforceable contract, promise, or agreement to make any
290     political issues expenditure;
291          (iv) compensation paid by a reporting entity for personal services rendered by a person
292     without charge to a political issues committee; or
293          (v) goods or services provided to or for the benefit of another reporting entity at less
294     than fair market value.
295          (b) "Political issues expenditure" does not include:
296          (i) services provided without compensation by individuals volunteering a portion or all
297     of their time on behalf of a political issues committee; or
298          (ii) money lent to a political issues committee by a financial institution in the ordinary
299     course of business.
300          (40) "Political purposes" means an act done with the intent or in a way to influence or
301     tend to influence, directly or indirectly, any person to refrain from voting or to vote for or
302     against any candidate or a person seeking a municipal or county office at any caucus, political
303     convention, or election.
304          (41) (a) "Poll" means the survey of a person regarding the person's opinion or

305     knowledge of an individual who has filed a declaration of candidacy for public office, or of a
306     ballot proposition that has legally qualified for placement on the ballot, which is conducted in
307     person or by telephone, facsimile, Internet, postal mail, or email.
308          (b) "Poll" does not include:
309          (i) a ballot; or
310          (ii) an interview of a focus group that is conducted, in person, by one individual, if:
311          (A) the focus group consists of more than three, and less than thirteen, individuals; and
312          (B) all individuals in the focus group are present during the interview.
313          (42) "Primary election" means any regular primary election held under the election
314     laws.
315          [(45)] (43) "Publicly identified class of individuals" means a group of 50 or more
316     individuals sharing a common occupation, interest, or association that contribute to a political
317     action committee or political issues committee and whose names can be obtained by contacting
318     the political action committee or political issues committee upon whose financial statement the
319     individuals are listed.
320          [(43)] (44) "Public office" means the office of governor, lieutenant governor, state
321     auditor, state treasurer, attorney general, state school board member, state senator, state
322     representative, speaker of the House of Representatives, president of the Senate, and the leader,
323     whip, and assistant whip of any party caucus in either house of the Legislature.
324          [(44)] (45) (a) "Public service assistance" means the following when given or provided
325     to an officeholder to defray the costs of functioning in a public office or aid the officeholder to
326     communicate with the officeholder's constituents:
327          (i) a gift, subscription, donation, unpaid or partially unpaid loan, advance, or deposit of
328     money or anything of value to an officeholder; or
329          (ii) goods or services provided at less than fair market value to or for the benefit of the
330     officeholder.
331          (b) "Public service assistance" does not include:
332          (i) anything provided by the state;
333          (ii) services provided without compensation by individuals volunteering a portion or all
334     of their time on behalf of an officeholder;
335          (iii) money lent to an officeholder by a financial institution in the ordinary course of

336     business;
337          (iv) news coverage or any publication by the news media; or
338          (v) any article, story, or other coverage as part of any regular publication of any
339     organization unless substantially all the publication is devoted to information about the
340     officeholder.
341          (46) "Receipts" means contributions and public service assistance.
342          (47) "Registered lobbyist" means a person registered under Title 36, Chapter 11,
343     Lobbyist Disclosure and Regulation Act.
344          (48) "Registered political action committee" means any political action committee that
345     is required by this chapter to file a statement of organization with the Office of the Lieutenant
346     Governor.
347          (49) "Registered political issues committee" means any political issues committee that
348     is required by this chapter to file a statement of organization with the Office of the Lieutenant
349     Governor.
350          (50) "Registered political party" means an organization of voters that:
351          (a) participated in the last regular general election and polled a total vote equal to 2%
352     or more of the total votes cast for all candidates for the United States House of Representatives
353     for any of its candidates for any office; or
354          (b) has complied with the petition and organizing procedures of Chapter 8, Political
355     Party Formation and Procedures.
356          (51) (a) "Remuneration" means a payment:
357          (i) made to a legislator for the period the Legislature is in session; and
358          (ii) that is approximately equivalent to an amount a legislator would have earned
359     during the period the Legislature is in session in the legislator's ordinary course of business.
360          (b) "Remuneration" does not mean anything of economic value given to a legislator by:
361          (i) the legislator's primary employer in the ordinary course of business; or
362          (ii) a person or entity in the ordinary course of business:
363          (A) because of the legislator's ownership interest in the entity; or
364          (B) for services rendered by the legislator on behalf of the person or entity.
365          (52) "Reporting entity" means a candidate, a candidate's personal campaign committee,
366     a judge, a judge's personal campaign committee, an officeholder, a party committee, a political

367     action committee, a political issues committee, a corporation, or a labor organization, as
368     defined in Section 20A-11-1501.
369          (53) "School board office" means the office of state school board.
370          (54) (a) "Source" means the person or entity that is the legal owner of the tangible or
371     intangible asset that comprises the contribution.
372          (b) "Source" means, for political action committees and corporations, the political
373     action committee and the corporation as entities, not the contributors to the political action
374     committee or the owners or shareholders of the corporation.
375          (55) "State office" means the offices of governor, lieutenant governor, attorney general,
376     state auditor, and state treasurer.
377          (56) "State office candidate" means a person who:
378          (a) files a declaration of candidacy for a state office; or
379          (b) receives contributions, makes expenditures, or gives consent for any other person to
380     receive contributions or make expenditures to bring about the person's nomination, election, or
381     appointment to a state office.
382          (57) "Summary report" means the year end report containing the summary of a
383     reporting entity's contributions and expenditures.
384          (58) "Supervisory board" means the individual or group of individuals that allocate
385     expenditures from a political issues committee.
386          Section 2. Section 20A-11-801 is amended to read:
387          20A-11-801. Political issues committees -- Registration -- Criminal penalty for
388     providing false information or accepting unlawful contribution.
389          (1) (a) Each political issues committee shall file a statement of organization with the
390     lieutenant governor's office by January 10 of each year, unless the political issues committee
391     has filed a notice of dissolution under Subsection (4).
392          (b) If a political issues committee is organized after the January 10 filing date, the
393     political issues committee shall file an initial statement of organization no later than seven days
394     after:
395          (i) receiving political issues contributions totaling at least $750; or
396          (ii) disbursing political issues expenditures totaling at least [$50] $750.
397          (2) Each political issues committee shall designate two officers that have primary

398     decision-making authority for the political issues committee.
399          (3) The statement of organization shall include:
400          (a) the name and street address of the political issues committee;
401          (b) the name, street address, phone number, occupation, and title of the two primary
402     officers designated under Subsection (2);
403          (c) the name, street address, occupation, and title of all other officers of the political
404     issues committee;
405          (d) the name and street address of the organization, individual, corporation,
406     association, unit of government, or union that the political issues committee represents, if any;
407          (e) the name and street address of all affiliated or connected organizations and their
408     relationships to the political issues committee;
409          (f) the name, street address, business address, occupation, and phone number of the
410     committee's treasurer or chief financial officer;
411          (g) the name, street address, and occupation of each member of the supervisory and
412     advisory boards, if any; and
413          (h) the ballot proposition whose outcome they wish to affect, and whether they support
414     or oppose it.
415          (4) (a) Any registered political issues committee that intends to permanently cease
416     operations during a calendar year shall file a notice of dissolution with the lieutenant governor's
417     office.
418          (b) Any notice of dissolution filed by a political issues committee does not exempt that
419     political issues committee from complying with the financial reporting requirements of this
420     chapter.
421          (5) (a) Unless the political issues committee has filed a notice of dissolution under
422     Subsection (4), a political issues committee shall file, with the lieutenant governor's office,
423     notice of any change of an officer described in Subsection (2).
424          (b) Notice of a change of a primary officer described in Subsection (2) shall:
425          (i) be filed within 10 days of the date of the change; and
426          (ii) contain the name and title of the officer being replaced and the name, street
427     address, occupation, and title of the new officer.
428          (6) (a) A person is guilty of providing false information in relation to a political issues

429     committee if the person intentionally or knowingly gives false or misleading material
430     information in the statement of organization or the notice of change of primary officer.
431          (b) Each primary officer designated in Subsection (2) is guilty of accepting an unlawful
432     contribution if the political issues committee knowingly or recklessly accepts a contribution
433     from a corporation that:
434          (i) was organized less than 90 days before the date of the general election; and
435          (ii) at the time the political issues committee accepts the contribution, has failed to file
436     a statement of organization with the lieutenant governor's office as required by Section
437     20A-11-704.
438          (c) A violation of this Subsection (6) is a third degree felony.
439          Section 3. Section 20A-11-802 is amended to read:
440          20A-11-802. Political issues committees -- Financial reporting.
441          (1) (a) Each registered political issues committee that has received political issues
442     contributions totaling at least $750, or disbursed political issues expenditures totaling at least
443     [$50] $750, during a calendar year, shall file a verified financial statement with the lieutenant
444     governor's office:
445          (i) on January 10, reporting contributions and expenditures as of December 31 of the
446     previous year;
447          (ii) seven days before the state political convention of each major political party;
448          (iii) seven days before the regular primary election date;
449          (iv) seven days before the date of an incorporation election, if the political issues
450     committee has received donations or made disbursements to affect an incorporation;
451          (v) at least three days before the first public hearing held as required by Section
452     20A-7-204.1;
453          (vi) if the political issues committee has received or expended funds in relation to an
454     initiative or referendum, at the time the initiative or referendum sponsors submit:
455          (A) the verified and certified initiative packets as required by Section 20A-7-206; or
456          (B) the signed and verified referendum packets as required by Section 20A-7-306;
457          (vii) on August 31; and
458          (viii) seven days before:
459          (A) the municipal general election; and

460          (B) the regular general election.
461          (b) The political issues committee shall report:
462          (i) a detailed listing of all contributions received and expenditures made since the last
463     statement; and
464          (ii) all contributions and expenditures as of five days before the required filing date of
465     the financial statement, except for a financial statement filed on January 10.
466          (c) The political issues committee need not file a statement under this section if it
467     received no contributions and made no expenditures during the reporting period.
468          (2) (a) That statement shall include:
469          (i) the name and address of any individual that makes a political issues contribution to
470     the reporting political issues committee, and the amount of the political issues contribution;
471          (ii) the identification of any publicly identified class of individuals that makes a
472     political issues contribution to the reporting political issues committee, and the amount of the
473     political issues contribution;
474          (iii) the name and address of any political issues committee, group, or entity that makes
475     a political issues contribution to the reporting political issues committee, and the amount of the
476     political issues contribution;
477          (iv) the name and address of each reporting entity that makes a political issues
478     contribution to the reporting political issues committee, and the amount of the political issues
479     contribution;
480          (v) for each nonmonetary contribution, the fair market value of the contribution;
481          (vi) except as provided in Subsection (2)(c), the name and address of each individual,
482     entity, or group of individuals or entities that received a political issues expenditure of more
483     than $50 from the reporting political issues committee, and the amount of each political issues
484     expenditure;
485          (vii) for each nonmonetary expenditure, the fair market value of the expenditure;
486          (viii) the total amount of political issues contributions received and political issues
487     expenditures disbursed by the reporting political issues committee;
488          (ix) a statement by the political issues committee's treasurer or chief financial officer
489     certifying that, to the best of the person's knowledge, the financial statement is accurate; and
490          (x) a summary page in the form required by the lieutenant governor that identifies:

491          (A) beginning balance;
492          (B) total contributions during the period since the last statement;
493          (C) total contributions to date;
494          (D) total expenditures during the period since the last statement; and
495          (E) total expenditures to date.
496          (b) (i) Political issues contributions received by a political issues committee that have a
497     value of $50 or less need not be reported individually, but shall be listed on the report as an
498     aggregate total.
499          (ii) Two or more political issues contributions from the same source that have an
500     aggregate total of more than $50 may not be reported in the aggregate, but shall be reported
501     separately.
502          (c) When reporting political issue expenditures made to circulators of initiative
503     petitions, the political issues committee:
504          (i) need only report the amount paid to each initiative petition circulator; and
505          (ii) need not report the name or address of the circulator.
506          (3) (a) As used in this Subsection (3), "received" means:
507          (i) for a cash contribution, that the cash is given to a political issues committee;
508          (ii) for a contribution that is a negotiable instrument or check, that the negotiable
509     instrument or check is negotiated; and
510          (iii) for any other type of contribution, that any portion of the contribution's benefit
511     inures to the political issues committee.
512          (b) A political issues committee shall report each contribution to the lieutenant
513     governor within 30 days after the contribution is received.