SF 2099

1st Engrossment - 88th Legislature (2013 - 2014) Posted on 05/05/2014 09:58am

A bill for an act
relating to campaign finance; requiring that certain political contributions be
made from funds subject to the individual income tax; amending Minnesota
Statutes 2012, 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 2012, 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 Political contributions and independent
expenditures of funds derived from revenues of a corporation or limited liability company
may be made, whether directly or indirectly, 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 state and local races.
new text end

Sec. 2.

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

new text begin Political contributions and independent expenditures of funds derived from revenues
of a corporation or limited liability company may be made, whether directly or indirectly,
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 state and local races.
new text end