SF 4160

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/26/2024 09:53am

A bill for an act
relating to campaign finance; requiring reporting disclosure of original sources of
campaign funds; requiring recordkeeping and reporting; modifying disclosure
requirements; providing penalties; appropriating money; amending Minnesota
Statutes 2022, sections 10A.01, by adding subdivisions; 10A.02, by adding a
subdivision; 10A.20, subdivision 3, by adding a subdivision; 211B.04, subdivisions
1, 2, by adding subdivisions; Minnesota Statutes 2023 Supplement, sections 10A.20,
subdivision 12; 10A.202, subdivisions 2, 3; proposing coding for new law in
Minnesota Statutes, chapter 10A.

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

Section 1.

Minnesota Statutes 2022, section 10A.01, is amended by adding a subdivision
to read:

new text begin Subd. 8a. new text end

new text begin Business income. new text end

new text begin "Business income" means:
new text end

new text begin (1) money received by a person in commercial transactions in the ordinary course of the
person's regular trade, business, or investments; or
new text end

new text begin (2) membership or union dues to the extent that they do not exceed $5,000 from a person
in a calendar year.
new text end

Sec. 2.

Minnesota Statutes 2022, section 10A.01, is amended by adding a subdivision to
read:

new text begin Subd. 9b. new text end

new text begin Covered entity. new text end

new text begin "Covered entity" means any association, political committee
or fund, person, political party, or political party unit who spends $10,000 or more in an
election cycle segment on covered campaign spending or who accepts $10,000 or more in
an election cycle segment of in-kind contributions to enable covered campaign spending,
but does not include:
new text end

new text begin (1) an individual who spends only their own personal funds for covered campaign
spending;
new text end

new text begin (2) an entity that spends only its own business income for covered campaign spending;
new text end

new text begin (3) a candidate's principle campaign committee; or
new text end

new text begin (4) any of the following that receive no more than $5,000 in contributions from any one
person in an election cycle segment: political committee or fund, person, political party, or
political party unit.
new text end

new text begin The amount of a person's covered campaign spending includes spending made by entities
established, financed, maintained, or controlled by that person.
new text end

Sec. 3.

Minnesota Statutes 2022, section 10A.01, is amended by adding a subdivision to
read:

new text begin Subd. 9c. new text end

new text begin Covered campaign spending. new text end

new text begin "Covered campaign spending" means the
expenditure of funds by a covered entity for independent expenditures, electioneering
communications, and to promote or defeat ballot questions.
new text end

Sec. 4.

Minnesota Statutes 2022, section 10A.01, is amended by adding a subdivision to
read:

new text begin Subd. 17e. new text end

new text begin Identity. new text end

new text begin "Identity" means:
new text end

new text begin (1) in the case of an individual, the individual's name, address, and employer or
occupation if self-employed; or
new text end

new text begin (2) in the case of an association, the legal name, address, federal tax status, and state of
incorporation or partnership, if any.
new text end

Sec. 5.

Minnesota Statutes 2022, section 10A.01, is amended by adding a subdivision to
read:

new text begin Subd. 26c. new text end

new text begin Original funds. new text end

new text begin "Original funds" means business income or the personal
funds of an individual.
new text end

Sec. 6.

Minnesota Statutes 2022, section 10A.01, is amended by adding a subdivision to
read:

new text begin Subd. 26d. new text end

new text begin Personal funds. new text end

new text begin "Personal funds" means:
new text end

new text begin (1) any asset of an individual that, at the time the individual engaged in covered spending
or transferred funds to another person for covered spending, the individual had legal control
over and rightful title to transfer;
new text end

new text begin (2) income received by an individual, including:
new text end

new text begin (i) salary and other earned income from bona fide employment;
new text end

new text begin (ii) dividends and proceeds from the individual's personal investments; or
new text end

new text begin (iii) bequests to the individual, including income from trusts established by bequests;
and
new text end

new text begin (3) a portion of assets that are jointly owned by the individual and the individual's spouse
equal to the individual's share of the assets under the instrument of conveyance or ownership,
or if no specific share is indicated by an instrument of conveyance or ownership, the value
of one-half of the property.
new text end

new text begin Personal funds does not include any asset or income received from any person for the
purpose of influencing any election.
new text end

Sec. 7.

Minnesota Statutes 2022, section 10A.01, is amended by adding a subdivision to
read:

new text begin Subd. 36a. new text end

new text begin Traceable funds. new text end

new text begin "Traceable funds" means funds and in-kind contributions
that have been given to a covered entity and for which, pursuant to section 10A.125, no
donor has opted out of the use or transfer for covered campaign spending.
new text end

Sec. 8.

Minnesota Statutes 2022, section 10A.02, is amended by adding a subdivision to
read:

new text begin Subd. 16. new text end

new text begin Website requirements. new text end

new text begin The board must maintain a page on its website for
each entity that reports spending to the board. The board must provide a way for the public
to easily find information on original source donors from the web page to which the public
is directed.
new text end

Sec. 9.

new text begin [10A.125] TRANSFER RECORDS; NOTICE REQUIREMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Transfer records; notice requirements. new text end

new text begin A covered entity must maintain
written transfer records. The records must include the identity of the persons who directly
or indirectly contributed or transferred original funds or in-kind contributions used for
covered campaign spending, the amounts of those contributions or transfers, and how the
contributions or transfers were disbursed. In addition, the records must include the name,
address, and position of the individual who is the custodian of the transfer records; the
identity of any person whose aggregate contributions of traceable funds to the covered entity
constituted more than half of the funds of the covered entity at the start of the calendar year;
the identity of any intermediaries used to transfer the traceable funds to the covered entity
from original sources with the date, amount, original source, and intermediate source of the
transferred funds; and the total amount of traceable funds received by the covered entity
during the calendar year.
new text end

new text begin Subd. 2. new text end

new text begin Contributions. new text end

new text begin (a) This subdivision applies to contributions that are not in-kind
contributions.
new text end

new text begin (b) A covered entity must notify a donor that the contribution may be used in Minnesota
for covered campaign spending unless the donor opts out of having the donation used or
transferred for these purposes. The notice may be provided to the donor before or after the
covered entity receives the contribution, but the contribution may not be used or transferred
for covered campaign spending purposes until 21 days after the notice is provided or until
the donor provides written consent, whichever is earlier. The notice provided to the donor
must be in writing and, at a minimum, must state:
new text end

new text begin (1) the donor's contributions may be used for covered campaign spending in Minnesota
and that information about donors may have to be reported to the Campaign Finance and
Public Disclosure Board for disclosure to the public; and
new text end

new text begin (2) the donor may opt out of having their contributions used or transferred for covered
campaign spending in Minnesota by notifying the covered entity in writing within 21 days.
new text end

new text begin (c) When a person contributes $10,000 or more in aggregate in traceable funds in an
election cycle segment, the notice required by paragraph (b) must also inform the person
of the requirements of paragraph (d). A covered entity's failure to provide notice required
by this paragraph does not negate the obligation to comply with the requirements in paragraph
(d).
new text end

new text begin (d) Within ten days of receiving a written request from the covered entity, any person
who contributes $10,000 or more in aggregate in traceable funds in an election cycle segment
to a covered entity must inform the covered entity of the identities of persons who directly
or indirectly contributed $1,000 or more in original funds being transferred, the amounts
of the persons' original funds being transferred, and the identities of any persons who have
previously transferred the original funds. If more than one transfer has previously occurred,
the contributor must disclose all the previous transfers and intermediaries. The contributor
must maintain these records for at least four years and provide them, upon request, to the
board. The covered entity must not use or transfer the contribution for covered campaign
spending purposes unless the covered entity has received complete transfer records for the
contributions.
new text end

new text begin Subd. 3. new text end

new text begin In-kind contributions. new text end

new text begin (a) This subdivision applies to in-kind contributions.
new text end

new text begin (b) A covered entity must notify a donor that the in-kind contribution may be used in
Minnesota for covered campaign spending unless the donor opts out of having the donation
used for these purposes. The notice must be in writing and must state:
new text end

new text begin (1) the donor's contributions may be used for covered campaign spending in Minnesota
and that information about donors may have to be reported to the Campaign Finance and
Public Disclosure Board for disclosure to the public; and
new text end

new text begin (2) the donor may opt out of having their contributions used or transferred for covered
campaign spending in Minnesota by notifying the covered entity at the time the contribution
is made or offered to be made.
new text end

new text begin (c) When a person makes an in-kind contribution to a covered entity of $10,000 or more
in aggregate in traceable funds in an election cycle segment, the notice required by paragraph
(b) must also inform the person of the requirements of paragraph (d). A covered entity's
failure to provide notice required by this paragraph does not negate the obligation to comply
with the requirements in paragraph (d).
new text end

new text begin (d) Any person who makes an in-kind contribution to a covered entity of $10,000 or
more in aggregate in an election cycle segment to enable covered campaign spending must
inform the covered entity, at the time the in-kind contribution is made or offered to be made,
of the identities of persons who directly or indirectly contributed or provided $1,000 or
more in original funds used to finance the in-kind contribution, the amounts of the persons'
original funds so used, and the identities of any persons who had previously transferred the
original funds. If more than one transfer had previously occurred, the in-kind contributor
must disclose all the previous transfers and intermediaries. The in-kind contributor must
maintain these records for at least four years and provide them, upon request, to the board.
The covered entity must not use the in-kind contribution unless the covered entity has
received complete transfer records for the contributions. A covered entity must not use an
in-kind contribution for covered campaign expenditures if the donor has notified the covered
entity that the donor has opted to not have the in-kind contribution spent for covered
campaign expenditures.
new text end

new text begin Subd. 4. new text end

new text begin Penalty. new text end

new text begin For each violation of this section, the board may impose a civil penalty
of not less than the amount contributed or spent, and not more than the greater of either
$10,000 or double the amount contributed or spent.
new text end

new text begin EFFECTIVE DATE; APPLICATION. new text end

new text begin This section is effective January 1, 2025, and
applies to contributions or transfers made on or after that date.
new text end

Sec. 10.

Minnesota Statutes 2022, section 10A.20, subdivision 3, is amended to read:

Subd. 3.

Contents of report.

(a) The report required by this section must include each
of the items listed in paragraphs (b) to (q) that are applicable to the filer. The board shall
prescribe forms based on filer type indicating which of those items must be included on the
filer's report.

(b) The report must disclose the amount of liquid assets on hand at the beginning of the
reporting period.

(c) The report must disclose the name, address, employer, or occupation if self-employed,
and registration number if registered with the board, of each individual or association that
has made one or more contributions to the reporting entity, including the purchase of tickets
for a fundraising effort, that in aggregate within the year exceed $200 for legislative or
statewide candidates or more than $500 for ballot questions, together with the amount and
date of each contribution, and the aggregate amount of contributions within the year from
each source so disclosed. A donation in kind must be disclosed at its fair market value. An
approved expenditure must be listed as a donation in kind. A donation in kind is considered
consumed in the reporting period in which it is received. The names of contributors must
be listed in alphabetical order. Contributions from the same contributor must be listed under
the same name. When a contribution received from a contributor in a reporting period is
added to previously reported unitemized contributions from the same contributor and the
aggregate exceeds the disclosure threshold of this paragraph, the name, address, and
employer, or occupation if self-employed, of the contributor must then be listed on the
report.

(d) The report must disclose the sum of contributions to the reporting entity during the
reporting period.

(e) The report must disclose each loan made or received by the reporting entity within
the year in aggregate in excess of $200, continuously reported until repaid or forgiven,
together with the name, address, occupation, principal place of business, if any, and
registration number if registered with the board of the lender and any endorser and the date
and amount of the loan. If a loan made to the principal campaign committee of a candidate
is forgiven or is repaid by an entity other than that principal campaign committee, it must
be reported as a contribution for the year in which the loan was made.

(f) The report must disclose each receipt over $200 during the reporting period not
otherwise listed under paragraphs (c) to (e).

(g) The report must disclose the sum of all receipts of the reporting entity during the
reporting period.

(h) The report must disclose the name, address, and registration number if registered
with the board of each individual or association to whom aggregate expenditures, approved
expenditures, independent expenditures, and ballot question expenditures have been made
by or on behalf of the reporting entity within the year in excess of $200, together with the
amount, date, and purpose of each expenditure, including an explanation of how the
expenditure was used, and the name and address of, and office sought by, each candidate
or local candidate on whose behalf the expenditure was made, identification of the ballot
question that the expenditure was intended to promote or defeat and an indication of whether
the expenditure was to promote or to defeat the ballot question, and in the case of independent
expenditures made in opposition to a candidate or local candidate, the candidate's or local
candidate's name, address, and office sought. A reporting entity making an expenditure on
behalf of more than one candidate or local candidate must allocate the expenditure among
the candidates and local candidates on a reasonable cost basis and report the allocation for
each candidate or local candidate. The report must list on separate schedules any independent
expenditures made on behalf of local candidates and any expenditures made for ballot
questions as defined in section 10A.01, subdivision 7, clause (2), (3), or (4).

(i) The report must disclose the sum of all expenditures made by or on behalf of the
reporting entity during the reporting period.

(j) The report must disclose the amount and nature of an advance of credit incurred by
the reporting entity, continuously reported until paid or forgiven. If an advance of credit
incurred by the principal campaign committee of a candidate is forgiven by the creditor or
paid by an entity other than that principal campaign committee, it must be reported as a
donation in kind for the year in which the advance of credit was made.

(k) The report must disclose the name, address, and registration number if registered
with the board of each political committee, political fund, principal campaign committee,
local candidate, or party unit to which contributions have been made that aggregate in excess
of $200 within the year and the amount and date of each contribution. The report must list
on separate schedules any contributions made to state candidates' principal campaign
committees and any contributions made to local candidates.

(l) The report must disclose the sum of all contributions made by the reporting entity
during the reporting period and must separately disclose the sum of all contributions made
to local candidates by the reporting entity during the reporting period.

(m) The report must disclose the name, address, and registration number if registered
with the board of each individual or association to whom noncampaign disbursements have
been made that aggregate in excess of $200 within the year by or on behalf of the reporting
entity and the amount, date, and purpose of each noncampaign disbursement, including an
explanation of how the expenditure was used.

(n) The report must disclose the sum of all noncampaign disbursements made within
the year by or on behalf of the reporting entity.

(o) The report must disclose the name and address of a nonprofit corporation that provides
administrative assistance to a political committee or political fund as authorized by section
211B.15, subdivision 17, the type of administrative assistance provided, and the aggregate
fair market value of each type of assistance provided to the political committee or political
fund during the reporting period.

(p) Legislative, statewide, and judicial candidates, party units, and political committees
and funds must itemize contributions that in aggregate within the year exceed $200 for
legislative or statewide candidates or more than $500 for ballot questions on reports submitted
to the board. The itemization must include the date on which the contribution was received,
the individual or association that provided the contribution, and the address of the contributor.
Additionally, the itemization for a donation in kind must provide a description of the item
or service received. Contributions that are less than the itemization amount must be reported
as an aggregate total.

(q) Legislative, statewide, and judicial candidates, party units, political committees and
funds, and committees to promote or defeat a ballot question must itemize expenditures and
noncampaign disbursements that in aggregate exceed $200 in a calendar year on reports
submitted to the board. The itemization must include the date on which the committee made
or became obligated to make the expenditure or disbursement, the name and address of the
vendor that provided the service or item purchased, and a description of the service or item
purchased, including an explanation of how the expenditure was used. Expenditures and
noncampaign disbursements must be listed on the report alphabetically by vendor.

new text begin (r) The report must disclose the total amount of traceable funds received by the reporting
entity during the reporting period. The report must list each contributor of original funds
who has contributed, directly or indirectly, more than $5,000 of traceable funds or in-kind
contributions during the reporting period and the date and amount of each contributor's
contributions. The report must identify any persons who acted as intermediaries who
transferred, in whole or in part, traceable funds from original sources to the reporting entity
and the date, amount, original source, and intermediate source of the transferred funds. The
report must identify any person whose aggregate contributions of traceable funds to the
reporting entity constituted more than half of the contributions received by the reporting
entity during the reporting period.
new text end

Sec. 11.

Minnesota Statutes 2022, section 10A.20, is amended by adding a subdivision to
read:

new text begin Subd. 5a. new text end

new text begin Covered entity supplemental report. new text end

new text begin In addition to the dates specified in
subdivision 2, each time a covered entity disburses an additional $10,000 or more in aggregate
between reports, or receives an additional $10,000 in aggregate between reports of in-kind
contributions to enable covered spending, that person must file a supplemental report with
the board. The supplemental report must include any information that has changed since
the most recently filed report. All information included in the supplemental report must be
reported in the next regularly filed report required by subdivision 2. The supplemental report
must be filed with the board no later than 11:59 p.m. on the day following the first date on
which covered spending is publicly distributed or, in the case of an in-kind expenditure, the
date on which it is expended. The board must post the report on the board's website by the
end of the next business day after the report is received.
new text end

Sec. 12.

Minnesota Statutes 2023 Supplement, section 10A.20, subdivision 12, is amended
to read:

Subd. 12.

Failure to file; late fees; penalty.

(a) If an individual or association fails to
file a report required by this section or section 10A.202, the board may impose a late filing
fee as provided in this subdivision.

(b) If an individual or association fails to file a report required by this section that is due
January 31, the board may impose a late filing fee of $25 per day, not to exceed $1,000,
commencing the day after the report was due.

(c) If an individual or association fails to file a report required by subdivision 2, 2a, or
5, or by section 10A.202, the board may impose a late filing fee of $50 per day, not to exceed
$1,000, commencing on the day after the date the statement was due, provided that if the
total receipts received during the reporting period or total expenditure reportable under
section 10A.202 exceeds $25,000, then the board may impose a late filing fee of up to two
percent of the amount that should have been reported, per day, commencing on the day after
the report was due, not to exceed 100 percent of the amount that should have been reported.

(d) If an individual or association has been assessed a late filing fee under this subdivision
during the prior four years, the board may impose a late filing fee of up to twice the amount
otherwise authorized by this subdivision.

(e) Within ten business days after the report was due or receipt by the board of
information disclosing the potential failure to file a report required by this section, the board
must send notice by certified mail that the individual or association may be subject to a civil
penalty for failure to file the report. An individual who fails to file the report within seven
days after the certified mail notice was sent by the board is subject to a civil penalty imposed
by the board of up to $1,000 in addition to the late filing fees imposed by this subdivision.

new text begin (f) A person must not structure, assist in structuring, or attempt to structure or assist in
structuring any solicitation, contribution, expenditure, disbursement, or other transaction
for the purpose of evading the reporting requirements of this section. For a violation of this
paragraph, the board may impose a civil penalty of not more than ten times the amount in
the report that is the subject of the violation.
new text end

Sec. 13.

Minnesota Statutes 2023 Supplement, section 10A.202, subdivision 2, is amended
to read:

Subd. 2.

Content of report.

A statement of electioneering communications required by
this section shall disclose the following information:

(1) the identification of the person who made the disbursement or who executed a contract
to make a disbursement and, if the person is not an individual, the person's principal place
of business;

(2) the identification of any individual sharing or exercising direction or control over
the activities of the person who made the disbursement or who executed a contract to make
a disbursement;

(3) the identification of the custodian of the books and accounts from which the
disbursements were made;

(4) the amount of each disbursement, or amount obligated, of more than $200 during
the period covered by the statement, the date the disbursement was made or the contract
was executed, and the identification of the person to whom that disbursement was made;

(5) all clearly identified candidates referred to in the electioneering communication and
the elections in which they are candidates;

(6) the disclosure date;

(7) if the disbursements were paid exclusively from a segregated bank account consisting
of funds provided solely by persons other than national banks, corporations organized by
federal law or the laws of this state, or foreign nationals, the name and address of each donor
who donated an amount aggregating $1,000 or more to the segregated bank account,
aggregating since the first day of the preceding calendar year;

(8) if the disbursements were not paid exclusively from a segregated bank account
consisting of funds provided solely by persons other than national banks, corporations
organized by federal law or the laws of this state, or foreign nationals, and were not made
by a corporation or labor organization, the name and address of each donor who donated
an amount aggregating $1,000 or more to the person making the disbursement, aggregating
since the first day of the preceding calendar year; deleted text begin and
deleted text end

(9) if the disbursements were made by a corporation or labor organization and were not
paid exclusively from a segregated bank account consisting of funds provided solely by
persons other than national banks, corporations organized by federal law or the laws of this
state, or foreign nationals, the name and address of each person who made a donation
aggregating $1,000 or more to the corporation or labor organization, aggregating since the
first day of the preceding calendar year, which was made for the purpose of furthering
electioneering communications deleted text begin . deleted text end new text begin ; and
new text end

new text begin (10) if the disbursements were made in whole or in part with traceable funds, the statement
must disclose each contributor of original funds who has contributed, directly or indirectly,
more than $5,000 of traceable funds or in-kind contributions for the disbursements disclosed
in the statement and the date and amount of each of the contributor's contributions. If
intermediaries were used to transfer the traceable funds to the covered entity, the statement
must identify all persons who acted as intermediaries who transferred, in whole or part,
traceable funds from original sources to the association that made the electioneering
communication and the date, amount, original source, and intermediate source of the
transferred funds.
new text end

Sec. 14.

Minnesota Statutes 2023 Supplement, section 10A.202, subdivision 3, is amended
to read:

Subd. 3.

Recordkeeping.

All persons who make electioneering communications or who
accept donations for the purpose of making electioneering communications must maintain
records as necessary to comply with the requirements of this section. new text begin In addition, all persons
who accept traceable funds for use in making electioneering communications must maintain
a record of the name, address, and position of the individual who is the custodian of the
transfer records; the name, address, and position of at least one individual who can control,
directly or indirectly, how the traceable funds are disbursed; the full name and office of any
candidate referenced in an electioneering communication that was financed, in whole or
part, with traceable funds; the identity of any person whose aggregate contributions of
traceable funds to the covered entity constituted more than half of the funds of the covered
entity at the start of the calendar year; and the total amount of traceable funds owned or
controlled by the covered entity for use in making electioneering communications during
the calendar year.
new text end

Sec. 15.

Minnesota Statutes 2022, section 211B.04, subdivision 1, is amended to read:

Subdivision 1.

Campaign material.

(a) A person who participates in the preparation or
dissemination of campaign material other than as provided in section 211B.05, subdivision
1, that does not prominently include the name and address of the person or committee
causing the material to be prepared or disseminated in a disclaimer substantially in the form
provided in paragraph (b) or (c) is guilty of a misdemeanor.

(b) Except in cases covered by paragraph (c), the required form of disclaimer is: "Prepared
and paid for by the ....... committee, ....... (address)" for material prepared and paid for by
a principal campaign committee, or "Prepared and paid for by the ....... committee, .......
(address)" for material prepared and paid for by a person or committee other than a principal
campaign committee. The address must be either the committee's mailing address or the
committee's website, if the website includes the committee's mailing address. If the material
is produced and disseminated without cost, the words "paid for" may be omitted from the
disclaimer.

(c) In the case of broadcast media, the required form of disclaimer is: "Paid for by the
....... committee." If the material is produced and broadcast without cost, the required form
of the disclaimer is: "The ....... committee is responsible for the content of this message."

new text begin (d ) As provided in subdivision 2a, if there are donors who directly or indirectly donated
$10,000 or more in original funds during the election cycle segment, in addition to the
requirements in paragraphs (b) and (c), the disclaimer must include the names of the top
three highest donors over $10,000 as of when the text is finalized. The required form of the
disclaimer is: "The following persons are the top three donors who helped pay for this
message: ....... (names of donors). More information may be found at ....... (link to the
committee's web page on the Board's website)." As an alternative to providing the full
address to the committee's page on the board's website, the disclaimer may instead use a
different method that is commonly used to provide a shortcut to a specific web page.
new text end

Sec. 16.

Minnesota Statutes 2022, section 211B.04, is amended by adding a subdivision
to read:

new text begin Subd. 1a. new text end

new text begin Definitions. new text end

new text begin (a) For purposes of this section, the following terms have the
given meanings.
new text end

new text begin (b) "Board" means the Campaign Finance and Public Disclosure Board established in
chapter 10A.
new text end

new text begin (c) "Covered entity" has the meaning given in section 10A.01, subdivision 9b.
new text end

new text begin (d) "Original funds" has the meaning given in section 10A.01, subdivision 26c.
new text end

new text begin (e) "Traceable funds" has the meaning given in section 10A.01, subdivision 36a.
new text end

Sec. 17.

Minnesota Statutes 2022, section 211B.04, subdivision 2, is amended to read:

Subd. 2.

Independent expenditures.

(a) The required form of the disclaimer on a written
independent expenditure is: "This is an independent expenditure prepared and paid for by
....... (name of entity participating in the expenditure), ....... (address). It is not coordinated
with or approved by any candidate nor is any candidate responsible for it." The address
must be either the entity's mailing address or the entity's website, if the website includes
the entity's mailing address. When a written independent expenditure is produced and
disseminated without cost, the words "and paid for" may be omitted from the disclaimer.

(b) The required form of the disclaimer on a broadcast independent expenditure is: "This
independent expenditure is paid for by ....... (name of entity participating in the expenditure).
It is not coordinated with or approved by any candidate nor is any candidate responsible
for it." When a broadcast independent expenditure is produced and disseminated without
cost, the following disclaimer may be used: "....... (name of entity participating in the
expenditure) is responsible for the contents of this independent expenditure. It is not
coordinated with or approved by any candidate nor is any candidate responsible for it."

new text begin (c) As provided in subdivision 2a, if there are donors who directly or indirectly donated
$10,000 or more in original funds during the election cycle segment, in addition to the
requirements in paragraphs (a) and (b), the disclaimer must include the names of the top
three highest donors over $10,000 as of when the text is finalized. The required form of the
disclaimer is: "The following persons are the top three donors who helped pay for this
message: ....... (names of donors). More information may be found at ....... (link to the
committee's web page on the Board's website)." As an alternative to providing the full
address to the committee's page on the board's website, the disclaimer may instead use a
different method that is commonly used to provide a shortcut to a specific web page.
new text end

Sec. 18.

Minnesota Statutes 2022, section 211B.04, is amended by adding a subdivision
to read:

new text begin Subd. 2a. new text end

new text begin Top three donors. new text end

new text begin (a) For purposes of subdivision 2, the top three donors
must be determined by calculating the three donors of traceable funds that have contributed
the most original funds, directly or indirectly, during the election cycle to the covered entity
or, if the covered entity is a political fund, the most original funds to the general treasury
of that political committee.
new text end

new text begin (b) Contributions of traceable funds made in prior election cycles shall be considered
to have been contributed in the current election cycle if the contributor's aggregate
contributions of original funds to the covered entity constituted more than one-half of the
covered entity's traceable funds at the start of the election cycle segment or, if the reporting
person is a political committee, the contributor's aggregate contributions to the general
treasury of that political committee constituted more than one-half of the funds in that
treasury at the start of the election cycle.
new text end

new text begin (c) If multiple contributors have contributed identical amounts so that there is no
difference in contributed amounts between the third-highest contributor and the
fourth-highest, or lower, the contributor who most recently contributed to the covered entity
shall be deemed a top three donor.
new text end

new text begin (d) No contributor of traceable funds shall be deemed a top three donor if the contributor's
aggregate contributions of original funds during the election cycle to the covered entity are
less than $10,000.
new text end

new text begin (e) To the extent that fewer than three contributors meet the $10,000 threshold in
paragraph (d), an intermediary who transferred, directly or indirectly, more than $10,000
of traceable funds to the covered entity during the election cycle shall be treated as the
original source of funds for purposes of the disclaimer required by this section.
new text end

Sec. 19.

Minnesota Statutes 2022, section 211B.04, is amended by adding a subdivision
to read:

new text begin Subd. 6. new text end

new text begin Campaign Finance and Public Disclosure Board. new text end

new text begin The board's website must
have a separate web page for each committee that provides the information required by
subdivisions 1 and 2. The board must provide each committee with a simple link to that
committee's specific web page.
new text end

Sec. 20. new text begin PUBLIC AWARENESS PROMOTION.
new text end

new text begin The Campaign Finance and Public Disclosure Board must promote public awareness of
this law and the ability of the public to use the board's website to find information about
the original source of campaign contributions and contributors. The board must make
available on its website instructions on how to use the website databases.
new text end

Sec. 21. new text begin APPROPRIATION.
new text end

new text begin $....... in fiscal year 2024 is appropriated from the general fund to the Campaign Finance
and Public Disclosure Board to implement the requirements of this act. This appropriation
does not cancel, but is available until June 30, 2025.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 22. new text begin REVISOR INSTRUCTION.
new text end

new text begin The revisor must renumber the subdivisions in Minnesota Statutes, section 10A.01, so
that the definitions appear in alphabetical order. The revisor must correct all cross-references.
new text end

Sec. 23. new text begin EFFECTIVE DATE.
new text end

new text begin This act is effective January 1, 2025, unless otherwise stated.
new text end