House
File
358
H-1102
Amend
House
File
358
as
follows:
1
1.
Page
1,
after
line
28
by
inserting:
2
<
Sec.
___.
Section
68A.503,
Code
2021,
is
amended
by
3
striking
the
section
and
inserting
in
lieu
thereof
the
4
following:
5
68A.503
Contributions
by
corporations
——
requirements.
6
1.
A
corporation
or
subsidiary
of
the
corporation
shall
not
7
use
money
or
other
property
in
connection
with
a
contribution
8
or
independent
expenditure
unless
the
shareholders
of
the
9
corporation
have
by
an
affirmative
vote
of
a
majority
of
all
10
shares
entitled
to
vote
done
all
of
the
following:
11
a.
Authorized
in
advance
the
total
amount
of
money
or
12
property
that
may
be
used
for
all
political
expenditures
during
13
a
specific
fiscal
year
of
the
corporation.
14
b.
Directed
that
the
money
or
property
be
used
for
one
or
15
more
of
the
following
purposes:
16
(1)
A
specified
candidate
or
candidates.
17
(2)
Candidates
of
a
specified
political
party
or
parties.
18
(3)
A
specified
political
party
or
parties.
19
(4)
A
specified
political
committee
or
committees.
20
(5)
A
specified
entity
or
entities
exempt
from
taxation
21
under
§501(c)(4)
or
(6)
of
the
Internal
Revenue
Code.
22
(6)
A
specified
question
or
questions.
23
2.
A
corporation
that
makes
a
contribution
or
independent
24
expenditure,
including
through
a
subsidiary
of
the
corporation,
25
shall
at
least
annually
disclose
to
its
shareholders
and
file
26
with
the
secretary
of
state
an
accounting
of
the
contributions
27
and
independent
expenditures
used
for
such
purposes,
including
28
all
of
the
following:
29
a.
The
date
of
the
contribution
or
independent
expenditure.
30
b.
The
amount
of
the
contribution
or
independent
31
expenditure.
32
c.
The
identity
of
the
recipient
of
the
contribution,
33
or
in
the
case
of
an
independent
expenditure,
the
identity
34
of
the
candidate,
ballot
measure,
political
party,
pending
35
-1-
HF358.267
(1)
89
ss/jh
1/
2
#1.
legislation,
public
policy,
or
government
rule
supported
or
1
opposed.
2
d.
The
business
rationale
for
each
contribution
or
3
independent
expenditure.
4
3.
The
secretary
of
state
shall
post
each
corporation’s
5
annual
disclosure
on
the
internet
site
maintained
by
the
6
secretary
of
state.
7
4.
When
it
appears
to
the
attorney
general
that
a
person
8
has
committed
a
violation
of
this
section,
the
attorney
general
9
may
bring
an
action
to
obtain
one
or
more
of
the
following
10
remedies:
11
a.
A
temporary
restraining
order.
12
b.
A
temporary
or
permanent
injunction.
13
c.
A
civil
penalty
in
the
following
amounts:
14
(1)
Three
times
the
amount
of
an
expenditure
made
in
15
violation
of
subsection
1.
16
(2)
Five
thousand
dollars
for
any
other
violation
of
this
17
section.
18
d.
A
declaratory
judgment.
19
e.
Rescission.
20
f.
Restitution.
21
g.
Other
appropriate
relief.
>
22
2.
Title
page,
line
1,
after
<
including
>
by
inserting
23
<
corporate
contributions,
>
24
3.
By
renumbering
as
necessary.
25
______________________________
KONFRST
of
Polk
-2-
HF358.267
(1)
89
ss/jh
2/
2
#2.
#3.