HF 375

as introduced - 89th Legislature (2015 - 2016) Posted on 01/29/2015 04:31pm

A bill for an act
relating to campaign finance; requiring that certain political contributions and
independent expenditures be made from funds subject to the individual income
tax; amending Minnesota Statutes 2014, section 10A.27, by adding a subdivision;
proposing coding for new law in Minnesota Statutes, chapter 211B.

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

Section 1.

Minnesota Statutes 2014, section 10A.27, is amended by adding a
subdivision to read:

new text begin Subd. 14a. new text end

new text begin No pretax contributions. new text end

new text begin To ensure equal treatment under the law
and equal opportunity for political participation, political contributions and independent
expenditures of funds derived from revenues of a corporation or limited liability company
may be made only from funds that have been reported, or will be required to be reported,
as income on individual income tax returns, such as corporate dividends, salaries, wages,
commissions, bonuses, and capital gains. This subdivision applies to contributions and
independent expenditures for all federal, state, and local races.
new text end

Sec. 2.

new text begin [211B.151] PROHIBITION ON PRETAX CONTRIBUTIONS.
new text end

new text begin To ensure equal treatment under the law and equal opportunity for political
participation, political contributions and independent expenditures of funds derived from
revenues of a corporation or limited liability company may be made only from funds that
have been reported, or will be required to be reported, as income on individual income
tax returns, such as corporate dividends, salaries, wages, commissions, bonuses, and
capital gains. This subdivision applies to contributions and independent expenditures for
all federal, state, and local races.
new text end