(1)

1. (a) Unless the political issues committee has filed a notice of dissolution under Subsection (4), each political issues committee shall file a statement of organization with the lieutenant governor's office:

   1. (i) before 5 p.m. on January 10 of each year; or
   2. (ii) electronically, before midnight on January 10 of each year.

2. (b) If a political issues committee is organized after the filing deadline described in Subsection (1)(a), the political issues committee shall file an initial statement of organization no later than seven days after the day on which the political issues committee:

   1. (i) receives political issues contributions totaling at least $750; or
   2. (ii) distributes political issues expenditures totaling at least $750.
3. (c) Each political issues committee shall deposit each contribution received into one or more separate accounts in a financial institution that are dedicated only to that purpose.

(2)

1. (a) Each political issues committee shall designate two officers that have primary decision-making authority for the political issues committee.
2. (b) An individual may not exercise primary decision-making authority for a political issues committee if the individual is not designated under Subsection (2)(a).

(3) The statement of organization shall include:

1. (a) the name and street address of the political issues committee;
2. (b) the name, street address, phone number, occupation, and title of the two primary officers designated under Subsection (2);
3. (c) the name, street address, occupation, and title of all other officers of the political issues committee;
4. (d) the name and street address of the organization, individual, corporation, association, unit of government, or union that the political issues committee represents, if any;
5. (e) the name and street address of all affiliated or connected organizations and their relationships to the political issues committee;
6. (f) the name, street address, business address, occupation, and phone number of the committee's treasurer or chief financial officer;
7. (g) the name, street address, and occupation of each member of the supervisory and advisory boards, if any; and
8. (h) the ballot proposition whose outcome they wish to affect, and whether they support or oppose it.

(4)

1. (a) A registered political issues committee that intends to permanently cease operations during a calendar year shall:

   1. (i) dispose of all remaining funds by returning the funds to donors or donating the funds to an organization that is exempt from federal income taxation under Section 501(c)(3), Internal Revenue Code; and
   2. (ii) after complying with Subsection (4)(a)(i), file a notice of dissolution with the lieutenant governor's office.
2. (b) A political issues committee may not donate money to a political action committee, but may accept a contribution from a political action committee.
3. (c) Any notice of dissolution filed by a political issues committee does not exempt that political issues committee from complying with the financial reporting requirements of this chapter in relation to all contributions received, and all expenditures made, before, at, or after dissolution.
4. (d) A political issues committee shall report all money donated or expended under Subsection (4)(a) in a financial report to the lieutenant governor, in accordance with the financial reporting requirements described in this chapter.

(5)

1. (a) Unless the political issues committee has filed a notice of dissolution under Subsection (4), a political issues committee shall file, with the lieutenant governor's office, notice of any change of an officer described in Subsection (2).

2. (b) A political issues committee shall:

   1. (i) file a notice of a change of a primary officer described in Subsection (2)(a) before 5 p.m. within 10 days after the day on which the change occurs; and
   2. (ii) include in the notice of change the name and title of the officer being replaced and the name, street address, occupation, and title of the new officer.

(6)

1. (a) A person is guilty of providing false information in relation to a political issues committee if the person intentionally or knowingly gives false or misleading material information in the statement of organization or the notice of change of primary officer.

2. (b) Each primary officer designated in Subsection (2)(a) or (5)(b) is guilty of accepting an unlawful contribution if the political issues committee knowingly or recklessly accepts a contribution from a corporation that:

   1. (i) was organized less than 90 days before the date of the general election; and
   2. (ii) at the time the political issues committee accepts the contribution, has failed to file a statement of organization with the lieutenant governor's office as required by Section 20A-11-704.
3. (c) A violation of this Subsection (6) is a third degree felony.

(7)

1. (a) As used in this Subsection (7), "received" means:

   1. (i) for a cash contribution, that the cash is given to a political issues committee;
   2. (ii) for a contribution that is a negotiable instrument or check, that the negotiable instrument or check is negotiated; and
   3. (iii) for any other type of contribution, that any portion of the contribution's benefit inures to the political issues committee.
2. (b) Each political issues committee shall report to the lieutenant governor each contribution received by the political issues committee within three business days after the day on which the contribution is received if the contribution is received within 30 days before the last day on which the sponsors of the initiative or referendum described in Subsection 20A-11-801(3)(h) may submit signatures to qualify the initiative or referendum for the ballot.

3. (c) For each contribution that a political issues committee fails to report within the period described in Subsection (7)(b), the lieutenant governor shall impose a fine against the political issues committee in an amount equal to:

   1. (i) 10% of the amount of the contribution, if the political issues committee reports the contribution within 60 days after the last day on which the political issues committee should have reported the contribution under Subsection (7)(b); or
   2. (ii) 20% of the amount of the contribution, if the political issues committee fails to report the contribution within 60 days after the last day on which the political issues committee should have reported the contribution under Subsection (7)(b).

4. (d) The lieutenant governor shall:

   1. (i) deposit money received under Subsection (7)(c) into the General Fund; and

   2. (ii) report on the lieutenant governor's website, in the location where reports relating to each political issues committee are available for public access:

      1. (A) each fine imposed by the lieutenant governor against the political issues committee;
      2. (B) the amount of the fine;
      3. (C) the amount of the contribution to which the fine relates; and
      4. (D) the date of the contribution.