political action committee officer -- No personal use -- Contribution reporting deadline -- Report other accounts -- Anonymous contributions. (1) (a) (i) Each school board office candidate shall deposit each contribution received in one or more separate accounts in a financial institution that are dedicated only to that purpose. (ii) A school board office candidate may: (A) receive a contribution from a political action committee registered under Section 20A-11-601; and (B) be designated by a political action committee as an officer who has primary decision- making authority as described in Section 20A-11-601. (b) A school board office candidate may not use money deposited in an account described in Subsection (1)(a)(i) for: (i) a personal use expenditure; or (ii) an expenditure prohibited by law. (c) (i) Each school board officeholder shall deposit each contribution and public service assistance received in one or more separate accounts in a financial institution that are dedicated only to that purpose. (ii) A school board officeholder may: (A) receive a contribution or public service assistance from a political action committee registered under Section 20A-11-601; and (B) be designated by a political action committee as an officer who has primary decision- making authority as described in Section 20A-11-601. (d) A school board officeholder may not use money deposited in an account described in Subsection (1)(a)(i) or (1)(c)(i) for: (i) a personal use expenditure; or (ii) an expenditure prohibited by law. (2) (a) A school board office candidate may not deposit or mingle any contributions received into a personal or business account. (b) A school board officeholder may not deposit or mingle any contributions or public service assistance received into a personal or business account. (3) A school board office candidate or school board officeholder may not make any political expenditures prohibited by law. (4) If a person who is no longer a school board office candidate chooses not to expend the money remaining in a campaign account, the person shall continue to file the year-end summary report required by Section 20A-11-1302 until the statement of dissolution and final summary report required by Section 20A-11-1304 are filed with the lieutenant governor. (5) (a) Except as provided in Subsection (5)(b) and Section 20A-11-402, a person who is no longer a school board office candidate may not expend or transfer the money in a campaign account in a manner that would cause the former school board office candidate to recognize the money as taxable income under federal tax law. (b) A person who is no longer a school board office candidate may transfer the money in a campaign account in a manner that would cause the former school board office candidate to recognize the money as taxable income under federal tax law if the transfer is made to a campaign account for federal office. (6) (a) As used in this Subsection (6), "received" means the same as that term is defined in Subsection 20A-11-1303(1)(a). (b) Except as provided in Subsection (6)(d), each school board office candidate shall report to the chief election officer each contribution received by the school board office candidate: (i) except as provided in Subsection (6)(b)(ii), within 31 calendar days after the day on which the contribution is received; or (ii) within seven business days after the day on which the contribution is received, if: (A) the school board office candidate is contested in a convention and the contribution is received within 30 calendar days before the day on which the convention is held; (B) the school board office candidate is contested in a primary election and the contribution is received within 30 calendar days before the day on which the primary election is held; or (C) the school board office candidate is contested in a general election and the contribution is received within 30 calendar days before the day on which the general election is held. (c) For each contribution that a school board office candidate fails to report within the time period described in Subsection (6)(b), the chief election officer shall impose a fine against the school board office candidate in an amount equal to: (i) 10% of the amount of the contribution, if the school board office candidate reports the contribution within 60 calendar days after the day on which the time period described in Subsection (6)(b) ends; or (ii) 20% of the amount of the contribution, if the school board office candidate fails to report the contribution within 60 calendar days after the day on which the time period described in Subsection (6)(b) ends. (d) The lieutenant governor may waive the fine described in Subsection (6)(c) and issue a warning to the school board office candidate if: (i) the contribution that the school board office candidate fails to report is paid by the school board office candidate from the school board office candidate's personal funds; (ii) the school board office candidate has not previously violated Subsection (6)(c) in relation to a contribution paid by the school board office candidate from the school board office candidate's personal funds; and (iii) the lieutenant governor determines that the failure to timely report the contribution is due to the school board office candidate not understanding that the reporting requirement includes a contribution paid by a school board office candidate from the school board office candidate's personal funds. (e) The chief election officer shall: (i) deposit money received under Subsection (6)(c) into the General Fund; and (ii) report on the chief election officer's website, in the location where reports relating to each school board office candidate are available for public access: (A) each fine imposed by the chief election officer against the school board office candidate; (B) the amount of the fine; (C) the amount of the contribution to which the fine relates; and (D) the date of the contribution. (7) Within 31 calendar days after the day on which a school board office candidate receives a contribution that is cash or a negotiable instrument, exceeds $50, and is from an unknown source, the school board office candidate shall disburse the contribution to an organization that is exempt from federal income taxation under Section 501(c)(3) or (19), Internal Revenue Code. (8) (a) As used in this Subsection (8), "account" means an account in a financial institution: (i) that is not described in Subsection (1)(a)(i); and (ii) into which or from which a person who, as a candidate for an office, other than a school board office for which the person files a declaration of candidacy or federal office, or as a holder of an office, other than a school board office for which the person files a declaration of candidacy or federal office, deposits a contribution or makes an expenditure. (b) A school board office candidate shall include on any financial statement filed in accordance with this part: (i) a contribution deposited in an account: (A) since the last campaign finance statement was filed; or (B) that has not been reported under a statute or ordinance that governs the account; or (ii) an expenditure made from an account: (A) since the last campaign finance statement was filed; or (B) that has not been reported under a statute or ordinance that governs the account.
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