20A-11-402. Officeholder financial reporting requirements — Statement of dissolution.
(1)
An officeholder or former officeholder is active and subject to reporting requirements until the officeholder or former officeholder has filed a statement of dissolution with the lieutenant governor stating that:
Terms Used In Utah Code 20A-11-402
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
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
Federal office: means the office of president of the United States, United States Senator, or United States Representative. See Utah Code 20A-11-101
Officeholder: means a person who holds a public office. 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
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)
the officeholder or former officeholder is no longer receiving contributions or public service assistance and is no longer making expenditures;
(b)
the ending balance on the last summary report filed is zero and the balance in the separate bank account required by Section 20A-11-201, 20A-11-301, or 20A-11-1301 is zero; and
(c)
a final summary report in the form required by Section 20A-11-401 showing a zero balance is attached to the statement of dissolution.
(2)
A statement of dissolution and a final summary report may be filed at any time.
(3)
(a)
Each officeholder shall report to the lieutenant governor each contribution or public service assistance received by the state officeholder within 31 days after the day on which the officeholder receives the contribution or public service assistance.
(b)
For each contribution or public service assistance that an officeholder fails to report within the time period described in Subsection (3)(a), the lieutenant governor shall impose a fine against the officeholder in an amount equal to:
(i)
10% of the amount of the contribution or public service assistance if the officeholder reports the contribution or public service assistance within 60 days after the day on which the time period described in Subsection (3)(a) ends; or
(ii)
20% of the amount of the contribution or public service assistance if the officeholder fails to report the contribution or public service assistance within 60 days after the day on which the time period described in Subsection (3)(a) ends.
(c)
Each officeholder or former officeholder shall continue to file the year-end summary report required by Section 20A-11-401 until the statement of dissolution and final summary report required by this section are filed with the lieutenant governor.
(4)
An officeholder or former officeholder may not use a contribution or public service assistance deposited in an account in accordance with this chapter for:
(a)
a personal use expenditure; or
(b)
an expenditure prohibited by law.
(5)
(a)
Except as provided in Subsection (5)(b), a former officeholder may not expend or transfer the money in a campaign account in a manner that would cause the former officeholder to recognize the money as taxable income under federal tax law.
(b)
A former officeholder may transfer the money in a campaign account in a manner that would cause the former officeholder to recognize the money as taxable income under federal tax law if the transfer is made to a campaign account for federal office.
