20A-11-802 (Effective 01/01/11) - Political issues committees -- Financial reporting.
20A-11-802 (Effective 01/01/11). Political issues committees -- Financial reporting.
(1) (a) Each registered political issues committee that has received political issuescontributions 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'soffice:
(i) on January 10, reporting contributions and expenditures as of December 31 of theprevious year;
(ii) seven days before the date of an incorporation election, if the political issuescommittee has received donations or made disbursements to affect an incorporation;
(iii) at least three days before the first public hearing held as required by Section20A-7-204.1;
(iv) if the political issues committee has received or expended funds in relation to aninitiative 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 laststatement; and
(ii) for financial statements filed on August 31 and before the general election, allcontributions and expenditures as of five days before the required filing date of the financialstatement.
(c) The political issues committee need not file a statement under this section if itreceived no contributions and made no expenditures during the reporting period.
(2) (a) That statement shall include:
(i) the name and address of any individual that makes a political issues contribution tothe 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 politicalissues contribution to the reporting political issues committee, and the amount of the politicalissues contribution;
(iii) the name and address of any political issues committee, group, or entity that makes apolitical issues contribution to the reporting political issues committee, and the amount of thepolitical issues contribution;
(iv) the name and address of each reporting entity that makes a political issuescontribution to the reporting political issues committee, and the amount of the political issuescontribution;
(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 issuesexpenditure;
(vii) for each nonmonetary expenditure, the fair market value of the expenditure;
(viii) the total amount of political issues contributions received and political issuesexpenditures disbursed by the reporting political issues committee;
(ix) a statement by the political issues committee's treasurer or chief financial officercertifying that, to the best of the person'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 avalue of $50 or less need not be reported individually, but shall be listed on the report as anaggregate total.
(ii) Two or more political issues contributions from the same source that have anaggregate total of more than $50 may not be reported in the aggregate, but shall be reportedseparately.
(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 235, 2010 General Session
Amended by Chapter 389, 2010 General Session