24.2-949.7 - Large dollar contribution reporting requirement for political action committees.
§ 24.2-949.7. Large dollar contribution reporting requirement for politicalaction committees.
In addition to the quarterly reports required by § 24.2-949.6, politicalaction committees shall report any single contribution or loan of $10,000 ormore received at any time during the calendar year within three business daysof receipt of the contribution or loan.
1. The report shall be filed on a "large dollar contribution report" formprescribed by the State Board and shall be filed in writing or electronicallyin the same manner as the political action committee files its quarterlydisclosure reports.
2. Any contribution or loan reported pursuant to this section shall also bereported on the next subsequent report required under § 24.2-949.6 followingreceipt of the contribution or loan.
3. For the purposes of this section, political action committees shall reportas one contribution multiple contributions from a single source that havebeen subdivided into smaller amounts or given through different bank accountsfor the purpose of evading the $10,000 threshold. A political actioncommittee that receives contributions from affiliated organizations shall notbe deemed to be receiving contributions from a single source.
(1984, c. 480, § 24.1-923; 1991, cc. 9, 709; 1993, cc. 639, 641, § 24.2-923;1995, c. 785; 2002, cc. 156, 237; 2003, c. 256; 2004, c. 26; 2005, c. 9;2006, cc. 787, 892.)