Friday, November 21, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB789: Campaign finance disclosure; filings by PACs.
Be it enacted by the General Assembly of Virginia:
1. That §§ 24.2-949.6 and 24.2-953.1 of the Code of Virginia are amended and reenacted as follows:
§ 24.2-949.6. Filing schedule for political action committees.
A. Political action committees shall file the prescribed campaign finance reports with the State Board in accordance with the applicable provisions of this section. The first filed report shall be complete for the entire period from the time the committee was organized or contributions were received.
B. The reporting requirements shall continue in effect for each committee until a final report is filed.
C. Political action committees shall file the prescribed campaign finance reports as follows:
1. Not later than April 15 complete from the preceding report through March 31;
2. Not later than July 15 complete from the preceding report through June 30;
3. Not later than October 15 complete from the preceding report through September 30; and
4. Not later than January 15 complete from the preceding report through December 31, and then continuing in accordance with this subsection until a final report is filed.
D. A political action committee that files its
statement of organization on or after October 1 and before the November
election day in any odd-numbered year shall file with its statement of
organization a campaign finance report as provided in § 24.2-949.5 for that
year, complete through the date that it files its statement of
organization. After that date and until the November election day, the
political action committee shall report any single contribution [ or
single expenditure ] of $500 or more to the State Board in writing
or electronically pursuant to § 24.2-946.1, and the report shall be received by
the State Board by 5:00 p.m. on the following day, or for a contribution
received [ or expenditure made ] on a Saturday, by 5:00
p.m. on the following Monday. However, any such contribution received [ or
expenditure made ] within the 24 hours prior to the election
day shall be reported and a report thereof received on the day prior to the
election. Any activity reported pursuant to this subsection shall also be
reported on the report required to be filed for activity through December 31.
§ 24.2-953.1. Failure to file the required reports.
A. In the case of a failure to file the statement of organization for a candidate campaign committee or political committee required by this chapter, there shall be a civil penalty not to exceed $500.
B. In the case of the failure to file a required report, the candidate campaign committee or political committee shall be assessed a civil penalty not to exceed $500. In the case of the failure to file a report required pursuant to subsection D of § 24.2-949.6, the political action committee shall be assessed a civil penalty not to exceed $500. In the case of a second or any subsequent such violation pertaining to one election cycle, the candidate campaign committee or political committee shall be assessed a civil penalty of $1,000 for each such failure to file.
C. In the case of a failure to file the report of any large
pre-election contribution required by § 24.2-947.9, or a large
contribution report required by § 24.2-948, or a report required pursuant to
subsection D of § 24.2-949.6, there shall be a rebuttable presumption that
the violation was willful.
Be it enacted by the General Assembly of Virginia:
1. That §§ 24.2-949.6 and 24.2-953.1 of the Code of Virginia are amended and reenacted as follows:
§ 24.2-949.6. Filing schedule for political action committees.
A. Political action committees shall file the prescribed campaign finance reports with the State Board in accordance with the applicable provisions of this section. The first filed report shall be complete for the entire period from the time the committee was organized or contributions were received.
B. The reporting requirements shall continue in effect for each committee until a final report is filed.
C. Political action committees shall file the prescribed campaign finance reports as follows:
1. Not later than April 15 complete from the preceding report through March 31;
2. Not later than July 15 complete from the preceding report through June 30;
3. Not later than October 15 complete from the preceding report through September 30; and
4. Not later than January 15 complete from the preceding report through December 31, and then continuing in accordance with this subsection until a final report is filed.
D. A political action committee that files its statement of organization on or after October 1 and before the November election day in any odd-numbered year shall file with its statement of organization a campaign finance report as provided in § 24.2-949.5 for that year, complete through the date that it files its statement of organization. After that date and until the November election day, the political action committee shall report any single contribution or single expenditure of $500 or more to the State Board in writing or electronically pursuant to § 24.2-946.1, and the report shall be received by the State Board by 5:00 p.m. on the following day, or for a contribution received or expenditure made on a Saturday, by 5:00 p.m. on the following Monday. However, any such contribution received or expenditure made within the 24 hours prior to the election day shall be reported and a report thereof received on the day prior to the election. Any activity reported pursuant to this subsection shall also be reported on the report required to be filed for activity through December 31.
§ 24.2-953.1. Failure to file the required reports.
A. In the case of a failure to file the statement of organization for a candidate campaign committee or political committee required by this chapter, there shall be a civil penalty not to exceed $500.
B. In the case of the failure to file a required report, the candidate campaign committee or political committee shall be assessed a civil penalty not to exceed $500. In the case of the failure to file a report required pursuant to subsection D of § 24.2-949.6, the political action committee shall be assessed a civil penalty not to exceed $500. In the case of a second or any subsequent such violation pertaining to one election cycle, the candidate campaign committee or political committee shall be assessed a civil penalty of $1,000 for each such failure to file.
C. In the case of a failure to file the report of any large
pre-election contribution required by § 24.2-947.9, or a large contribution report required by § 24.2-948, or a report required pursuant to subsection D of §
24.2-949.6, there shall be a rebuttable presumption that the
violation was willful.
Additional Data
Explanation
This is the actual text of the bill — the legislation itself. Generally this is amending existing law, proposing the addition or removal of words from laws that are already on the books.
Words that are highlighted in yellow are
proposed additions, and words that are crossed out in
red are proposed removals.
The numbers with the § symbol before them are references to existing laws, and if you click on them they’ll take you to that part of the law on the state's website.