20A-11-507. Political party financial reporting requirements — Interim reports.
(1)
The party committee of each registered political party shall file an interim report at the following times in any year in which there is a regular general election:
Terms Used In Utah Code 20A-11-507
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
Convention: means the political party convention at which party officers and delegates are selected. See Utah Code 20A-1-102
Detailed listing: means :
(a)
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
special election at which candidates are eliminated and selected. See Utah Code 20A-11-101
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.
Financial statement: includes any summary report, interim report, verified financial statement, or other statement disclosing contributions, expenditures, receipts, donations, or disbursements that is required by this chapter or 2. See Utah Code 20A-11-101
Receipts: means contributions and public service assistance. See Utah Code 20A-11-101
Registered political party: means an organization of voters that:
(a)
participated in the last regular general election and polled a total vote equal to 2% or more of the total votes cast for all candidates for the United States House of Representatives for any of its candidates for any office; or
Regular general election: means the election held throughout the state on the first Tuesday after the first Monday in November of each even-numbered year for the purposes established in Section 20A-1-201. See Utah Code 20A-1-102
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
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)
seven days before the registered political party‘s political convention;
(b)
seven days before the regular primary election date;
(c)
September 30; and
(d)
seven days before the general election date.
(2)
Each interim report shall include the following information:
(a)
the net balance of the last financial statement, if any;
(b)
a single figure equal to the total amount of receipts reported on all prior interim reports, if any, during the calendar year in which the interim report is due;
(c)
a single figure equal to the total amount of expenditures reported on all prior interim reports, if any, filed during the calendar year in which the interim report is due;
(d)
a detailed listing of each contribution received since the last summary report that has not been reported in detail on a prior interim report;
(e)
for each nonmonetary contribution, the fair market value of the contribution;
(f)
a detailed listing of each expenditure made since the last summary report that has not been reported in detail on a prior interim report;
(g)
for each nonmonetary expenditure, the fair market value of the expenditure;
(h)
a net balance for the year consisting of the net balance from the last summary report, if any, plus all receipts since the last summary report minus all expenditures since the last summary report; and
(i)
a summary page in the form required by the lieutenant governor that identifies:
(i)
beginning balance;
(ii)
total contributions during the period since the last statement;
(iii)
total contributions to date;
(iv)
total expenditures during the period since the last statement; and
(v)
total expenditures to date.
(3)
(a)
For all individual contributions of $50 or less, a single aggregate figure may be reported without separate detailed listings.
(b)
Two or more contributions from the same source that have an aggregate total of more than $50 may not be reported in the aggregate, but shall be reported separately.
(4)
In preparing each interim report, all receipts and expenditures shall be reported as of five days before the required filing date of the report.
