Bill Text: MN HF1260 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Political contributions made from funds derived from revenues of a corporation or LLC required to be subject to the individual income tax.
Sponsorship: Partisan Bill (Democrat 4)
Status: (Introduced - Dead) 2013-03-05 - Introduction and first reading, referred to Elections [HF1260 Detail]
Download: Minnesota-2013-HF1260-Introduced.html
1.2relating to political contributions; to ensure equal protection by requiring certain
1.3political contributions and expenditures be from funds subject to individual
1.4income tax;amending Minnesota Statutes 2012, section 211B.15, by adding a
1.5subdivision.
1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.7 Section 1. Minnesota Statutes 2012, section 211B.15, is amended by adding a
1.8subdivision to read:
1.9 Subd. 2a. Contributions subject to income tax. To ensure equal protection,
1.10political contributions of funds derived from the revenues of a corporation may be made
1.11only from funds that have been reported or will be required to be reported as income
1.12on individual income tax returns in the same way that corporate dividends, salaries,
1.13wages, commissions, bonuses, and capital gains are required to be reported as income on
1.14individual income tax returns. "Political contributions" includes independent expenditures
1.15and contributions for independent expenditures.
1.3political contributions and expenditures be from funds subject to individual
1.4income tax;amending Minnesota Statutes 2012, section 211B.15, by adding a
1.5subdivision.
1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.7 Section 1. Minnesota Statutes 2012, section 211B.15, is amended by adding a
1.8subdivision to read:
1.9 Subd. 2a. Contributions subject to income tax. To ensure equal protection,
1.10political contributions of funds derived from the revenues of a corporation may be made
1.11only from funds that have been reported or will be required to be reported as income
1.12on individual income tax returns in the same way that corporate dividends, salaries,
1.13wages, commissions, bonuses, and capital gains are required to be reported as income on
1.14individual income tax returns. "Political contributions" includes independent expenditures
1.15and contributions for independent expenditures.
