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2000 SESSION

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HB 1092 Campaign finance disclosure.

Introduced by: Harry R. (Bob) Purkey | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Campaign finance disclosure; statements of organization filed by political committees. Requires, with certain exceptions, that a political committee provide in its statement of organization (i) an address in the Commonwealth for the committee, (ii) a residence address in the Commonwealth for the custodian, if any, of the committee’s books and accounts and for at least one principal officer (the treasurer or chief executive officer) of the committee, and (iii) the name of the financial institution in the Commonwealth that will serve as the committee’s designated sole depository. Present law requirements remain in effect for any national political party committee and any political committee established or controlled by a corporation doing business in Virginia and allow the listing of out-of-state addresses and depositories.

SUMMARY AS PASSED HOUSE:

Campaign finance disclosure; statements of organization filed by political committees. Requires, with certain exceptions, that a political committee provide in its statement of organization (i) an address in the Commonwealth for the committee, (ii) a residence address in the Commonwealth for the custodian, if any, of the committee’s books and accounts and for at least one principal officer (the treasurer or chief executive officer) of the committee, and (iii) the name of the financial institution in the Commonwealth that will serve as the committee’s designated sole depository. Present law requirements remain in effect for any political party committee and any political committee established or controlled by a corporation doing business in Virginia and allow the listing of out-of-state addresses and depositories.

SUMMARY AS INTRODUCED:

Campaign finance disclosure; statements of organization filed by political committees; PACs; expenditure requirements. Provides that any political action committee that files a statement of organization in Virginia shall make at least two-thirds of its expenditures in elections subject to the Campaign Finance Disclosure Act, i.e. elections held in the Commonwealth to fill state and local offices and decide referenda. The bill also requires that a political committee provide in its statement of organization (i) an address in the Commonwealth for the committee, (ii) a residence address in the Commonwealth for the custodian, if any, of the committee’s books and accounts and for at least one principal officer (the treasurer or chief executive officer) of the committee, and (iii) the name of the financial institution in the Commonwealth that will serve as the committee’s designated sole depository.