House Amendment 8348


PAG LIN

     1  1    Amend Senate File 2354, as amended, passed, and
     1  2 reprinted by the Senate, as follows:
     1  3 #1.  Page 5, after line 14 by inserting:
     1  4    <Sec. ___.  NEW SECTION.  68A.404A  Corporate
     1  5 expenditures == limitations == penalty.
     1  6    1.  A corporation shall not be eligible to receive
     1  7 a tax benefit or program incentive offered by the
     1  8 state or any of its political subdivisions that is not
     1  9 available to every other corporation if the corporation
     1 10 has made an independent campaign expenditure within a
     1 11 period of the previous five years, if such expenditure
     1 12 was prohibited by state law in effect on January 1,
     1 13 2010.
     1 14    2.  A corporation that is receiving a tax benefit
     1 15 or program incentive offered by the state or any of
     1 16 its political subdivisions that is not available to
     1 17 every other corporation shall be disqualified from
     1 18 receiving any tax benefit or program incentive for
     1 19 five years if the corporation makes an independent
     1 20 campaign expenditure described in subsection 1. If
     1 21 the corporation is currently receiving such a benefit
     1 22 or incentive, the benefit or incentive shall terminate
     1 23 effective the date of the campaign expenditure.
     1 24    3.  The board shall post to an internet site, on
     1 25 a quarterly basis, a list of all corporations making
     1 26 independent expenditures and shall provide the list to
     1 27 the secretary of state. The secretary of state shall
     1 28 provide the list to all state and local government
     1 29 bodies for which candidate elections are held.
     1 30    4.  A corporation violating the provisions of
     1 31 section 68A.404 or this section shall be fined by
     1 32 the board in an amount equal to the amount of the
     1 33 independent expenditure or equal to the amount of
     1 34 any tax benefit or program incentive realized by the
     1 35 corporation during the previous five years, whichever
     1 36 is higher.>
     1 37 #2.  By renumbering as necessary.


                                        
          ISENHART of Dubuque
          SF2354.1768 (3) 83
          jr/rj

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