Bill Text: VA HB1906 | 2021 | Regular Session | Prefiled
Bill Title: Campaign finance; prohibited contributions from corporations, civil penalty.
Spectrum: Partisan Bill (Democrat 8-0)
Status: (Introduced - Dead) 2021-02-05 - Left in Privileges and Elections [HB1906 Detail]
Download: Virginia-2021-HB1906-Prefiled.html
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding a section numbered 24.2-947.4:2 as follows:
§24.2-947.4:2. Contributions from corporations prohibited; civil penalty.
A. As used in this section, "corporation" means any corporation organized under the laws of the United States or the laws of the Commonwealth or any state that does not hold tax-exempt status under § 501(c)(4) or 501(c)(5) of the Internal Revenue Code or that is not organized under Chapter 3 (§ 13.1-301 et seq.) of Title 13.1.
B. No corporation shall make any contribution to a candidate, campaign committee, political committee, or political party committee. No candidate, campaign committee, political committee, or political party committee shall solicit or accept any contribution from any such corporation.
C. For the purposes of applying the prohibition set forth in this section, all direct or indirect contributions made by a corporation to a candidate, campaign committee, political committee, or political party committee, including any designated contributions or contributions otherwise explicitly directed through any other person or committee for such purpose, shall be deemed to be contributions from such corporation to such candidate, campaign committee, political committee, or political party committee.
D. For the purposes of applying the prohibition set forth in this section, any contribution or portion thereof that is returned to the contributor within 60 days after receipt shall be deemed to have not been accepted.
E. Any candidate for elected office whose campaign committee knowingly accepts, or any person who knowingly makes to such candidate, contributions in violation of the prohibition set forth in this section shall be subject to a civil penalty of up to two times the amount of the contribution. The State Board shall assess and collect such civil penalties, which shall be payable to the State Treasurer for deposit into the general fund.
