Utah Code 20A-11-401. Officeholder financial reporting requirements — Year-end summary report — Officeholder as a political action committee officer — Anonymous contribution or public service assistance
20A-11-401. Officeholder financial reporting requirements — Year-end summary report — Officeholder as a political action committee officer — Anonymous contribution or public service assistance.
(1)
Terms Used In Utah Code 20A-11-401
Candidate: means any person who:
(a)
files a declaration of candidacy for a public office; or
(b)
receives contributions, makes expenditures, or gives consent for any other person to receive contributions or make expenditures to bring about the person's nomination or election to a public office. See Utah Code 20A-11-101
Contribution: means any of the following when done for political purposes:
(i)
a gift, subscription, donation, loan, advance, or deposit of money or anything of value given to the filing entity;
(ii)
an express, legally enforceable contract, promise, or agreement to make a gift, subscription, donation, unpaid or partially unpaid loan, advance, or deposit of money or anything of value to the filing entity;
(iii)
any transfer of funds from another reporting entity to the filing entity;
(iv)
compensation paid by any person or reporting entity other than the filing entity for personal services provided without charge to the filing entity;
(v)
remuneration from:
(A)
any organization or its directly affiliated organization that has a registered lobbyist; or
(B)
any agency or subdivision of the state, including school districts;
(vi)
a loan made by a candidate deposited to the candidate's own campaign; and
for each contribution or public service assistance:
(i)
the name and address of the individual or source making the contribution or public service assistance, except to the extent that the name or address of the individual or source is unknown;
(ii)
the amount or value of the contribution or public service assistance; and
(iii)
the date the contribution or public service assistance was made; and
(b)
for each expenditure:
(i)
the amount of the expenditure;
(ii)
the goods or services acquired by the expenditure; and
Expenditure: means any of the following made by a reporting entity or an agent of a reporting entity on behalf of the reporting entity:
(i)
any disbursement from contributions, receipts, or from the separate bank account required by this chapter;
(ii)
a purchase, payment, donation, distribution, loan, advance, deposit, gift of money, or anything of value made for political purposes;
(iii)
an express, legally enforceable contract, promise, or agreement to make any purchase, payment, donation, distribution, loan, advance, deposit, gift of money, or anything of value for political purposes;
(iv)
compensation paid by a filing entity for personal services rendered by a person without charge to a reporting entity;
(v)
a transfer of funds between the filing entity and a candidate's personal campaign committee;
(vi)
goods or services provided by the filing entity to or for the benefit of another reporting entity for political purposes at less than fair market value; or
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Officeholder: means a person who holds a public office. See Utah Code 20A-11-101
Political action committee: includes groups affiliated with a registered political party but not authorized or organized by the governing board of the registered political party that receive contributions or makes expenditures for political purposes. See Utah Code 20A-11-101
Public service assistance: means the following when given or provided to an officeholder to defray the costs of functioning in a public office or aid the officeholder to communicate with the officeholder's constituents:
(i)
a gift, subscription, donation, unpaid or partially unpaid loan, advance, or deposit of money or anything of value to an officeholder; or
(ii)
goods or services provided at less than fair market value to or for the benefit of the officeholder. See Utah Code 20A-11-101
Receipts: means contributions and public service assistance. See Utah Code 20A-11-101
Source: means the person or entity that is the legal owner of the tangible or intangible asset that comprises the contribution. See Utah Code 20A-11-101
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Summary report: means the year end report containing the summary of a reporting entity's contributions and expenditures. See Utah Code 20A-11-101
(a)
Each officeholder shall file a summary report by January 10 of each year.
(b)
An officeholder that is required to file a summary report both as an officeholder and as a candidate for office under the requirements of this chapter may file a single summary report as a candidate and an officeholder, provided that the combined report meets the requirements of:
(i)
this section; and
(ii)
the section that provides the requirements for the summary report filed by the officeholder in the officeholder’s capacity of a candidate for office.
(2)
(a)
Each summary report shall include the following information as of December 31 of the previous year:
(i)
the net balance of the last summary report, if any;
(ii)
a single figure equal to the total amount of receipts received since the last summary report, if any;
(iii)
a single figure equal to the total amount of expenditures made since the last summary report, if any;
(iv)
a detailed listing of each contribution and public service assistance received since the last summary report;
(v)
for each nonmonetary contribution:
(A)
the fair market value of the contribution with that information provided by the contributor; and
(B)
a specific description of the contribution;
(vi)
a detailed listing of each expenditure made since the last summary report;
(vii)
for each nonmonetary expenditure, the fair market value of the expenditure;
(viii)
a net balance for the year consisting of the net balance from the last summary report plus all receipts minus all expenditures; and
(ix)
the name of a political action committee for which the officeholder is designated as an officer who has primary decision-making authority under Section 20A-11-601.
(b)
In preparing the report, all receipts and expenditures shall be reported as of December 31 of the previous year.
(3)
The summary report shall contain a paragraph signed by the officeholder certifying that, to the best of the officeholder’s knowledge, all receipts and all expenditures have been reported as of December 31 of the last calendar year and that there are no bills or obligations outstanding and unpaid except as set forth in that report.
(4)
An officeholder may:
(a)
receive public service assistance from a political action committee registered under Section 20A-11-601; and
(b)
be designated by a political action committee as an officer who has primary decision-making authority as described in Section 20A-11-601.
(5)
Within 31 days after receiving a contribution or public service assistance that is cash or a negotiable instrument, exceeds $50, and is from an unknown source, an officeholder shall disburse the amount of the contribution or public service assistance to:
(a)
the treasurer of the state or a political subdivision for deposit into the state’s or political subdivision’s general fund; or
(b)
an organization that is exempt from federal income taxation under Section 501(c)(3), Internal Revenue Code.
