Bill Text: MN HF2463 | 2013-2014 | 88th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
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-Introduced.html
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-Introduced.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. To ensure equal treatment under the law
1.10and equal opportunity for political participation, political contributions and independent
1.11expenditures of funds derived from revenues of a corporation or limited liability company
1.12may be made only from funds that have been reported, or will be required to be reported,
1.13as income on individual income tax returns, such as corporate dividends, salaries, wages,
1.14commissions, bonuses, and capital gains. This subdivision applies to contributions and
1.15independent expenditures for all federal, state, and local races.
1.16 Sec. 2. [211B.151] PROHIBITION ON PRETAX CONTRIBUTIONS.
1.17To ensure equal treatment under the law and equal opportunity for political
1.18participation, political contributions and independent expenditures of funds derived from
1.19revenues of a corporation or limited liability company may be made only from funds that
1.20have been reported, or will be required to be reported, as income on individual income
1.21tax returns, such as corporate dividends, salaries, wages, commissions, bonuses, and
1.22capital gains. This subdivision applies to contributions and independent expenditures for
1.23all federal, 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. To ensure equal treatment under the law
1.10and equal opportunity for political participation, political contributions and independent
1.11expenditures of funds derived from revenues of a corporation or limited liability company
1.12may be made only from funds that have been reported, or will be required to be reported,
1.13as income on individual income tax returns, such as corporate dividends, salaries, wages,
1.14commissions, bonuses, and capital gains. This subdivision applies to contributions and
1.15independent expenditures for all federal, state, and local races.
1.16 Sec. 2. [211B.151] PROHIBITION ON PRETAX CONTRIBUTIONS.
1.17To ensure equal treatment under the law and equal opportunity for political
1.18participation, political contributions and independent expenditures of funds derived from
1.19revenues of a corporation or limited liability company may be made only from funds that
1.20have been reported, or will be required to be reported, as income on individual income
1.21tax returns, such as corporate dividends, salaries, wages, commissions, bonuses, and
1.22capital gains. This subdivision applies to contributions and independent expenditures for
1.23all federal, state, and local races.
