HF 1260

as introduced - 88th Legislature (2013 - 2014) Posted on 03/05/2013 11:22am

A bill for an act
relating to political contributions; to ensure equal protection by requiring certain
political contributions and expenditures be from funds subject to individual
income tax; amending Minnesota Statutes 2012, section 211B.15, by adding a
subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2012, section 211B.15, is amended by adding a
subdivision to read:

Subd. 2a.

Contributions subject to income tax.

To ensure equal protection,
political contributions of funds derived from the revenues of a corporation may be made
only from funds that have been reported or will be required to be reported as income
on individual income tax returns in the same way that corporate dividends, salaries,
wages, commissions, bonuses, and capital gains are required to be reported as income on
individual income tax returns. "Political contributions" includes independent expenditures
and contributions for independent expenditures.