Bill Text: MN HF2463 | 2013-2014 | 88th Legislature | Engrossed
Bill Title: Political contributions made from funds derived from revenues of a corporation or LLC required to be subject to the individual income tax.
Spectrum: Partisan Bill (Democrat 7-0)
Status: (Introduced - Dead) 2014-05-16 - Author added Dorholt [HF2463 Detail]
Download: Minnesota-2013-HF2463-Engrossed.html
1.2relating to campaign finance; requiring that certain political contributions be
1.3made from funds subject to the individual income tax;amending Minnesota
1.4Statutes 2012, section 10A.27, by adding a subdivision; proposing coding for
1.5new law in Minnesota Statutes, chapter 211B.
1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.7 Section 1. Minnesota Statutes 2012, section 10A.27, is amended by adding a
1.8subdivision to read:
1.9 Subd. 14a. No pretax contributions. Political contributions and independent
1.10expenditures of funds derived from revenues of a corporation or limited liability company
1.11may be made, whether directly or indirectly, only from funds that have been reported, or will
1.12be required to be reported, as income on individual income tax returns, such as corporate
1.13dividends, salaries, wages, commissions, bonuses, and capital gains. This subdivision
1.14applies to contributions and independent expenditures for all state and local races.
1.15 Sec. 2. [211B.151] PROHIBITION ON PRETAX CONTRIBUTIONS.
1.16Political contributions and independent expenditures of funds derived from revenues
1.17of a corporation or limited liability company may be made, whether directly or indirectly,
1.18only from funds that have been reported, or will be required to be reported, as income on
1.19individual income tax returns, such as corporate dividends, salaries, wages, commissions,
1.20bonuses, and capital gains. This subdivision applies to contributions and independent
1.21expenditures for all state and local races.
1.3made from funds subject to the individual income tax;amending Minnesota
1.4Statutes 2012, section 10A.27, by adding a subdivision; proposing coding for
1.5new law in Minnesota Statutes, chapter 211B.
1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.7 Section 1. Minnesota Statutes 2012, section 10A.27, is amended by adding a
1.8subdivision to read:
1.9 Subd. 14a. No pretax contributions. Political contributions and independent
1.10expenditures of funds derived from revenues of a corporation or limited liability company
1.11may be made, whether directly or indirectly, only from funds that have been reported, or will
1.12be required to be reported, as income on individual income tax returns, such as corporate
1.13dividends, salaries, wages, commissions, bonuses, and capital gains. This subdivision
1.14applies to contributions and independent expenditures for all state and local races.
1.15 Sec. 2. [211B.151] PROHIBITION ON PRETAX CONTRIBUTIONS.
1.16Political contributions and independent expenditures of funds derived from revenues
1.17of a corporation or limited liability company may be made, whether directly or indirectly,
1.18only from funds that have been reported, or will be required to be reported, as income on
1.19individual income tax returns, such as corporate dividends, salaries, wages, commissions,
1.20bonuses, and capital gains. This subdivision applies to contributions and independent
1.21expenditures for all state and local races.
