Senate Bill 2308

AN ACT TO AMEND SECTION 23-15-807, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT CAMPAIGN FINANCE REPORTS SHALL INCLUDE CERTAIN INFORMATION REGARDING LOANS OR OTHER EXTENSIONS OF CREDIT MADE TO A CANDIDATE FOR USE IN SUCH CANDIDATE'S CAMPAIGN; TO REPEAL SECTION 23-15-1023, MISSISSIPPI CODE OF 1972, WHICH PROVIDES THAT JUDICIAL CANDIDATES SHALL DISCLOSE CERTAIN INFORMATION ABOUT CERTAIN LOANS; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 23-15-807, Mississippi Code of 1972, is amended as follows:

23-15-807. (1) Each candidate or political committee shall file reports of contributions and disbursements in accordance with the provisions of this section. All candidates or political committees required to report may terminate its obligation to report only upon submitting a final report that it will no longer receive any contributions or make any disbursement and that such candidate or committee has no outstanding debts or obligations. The candidate, treasurer or chief executive officer shall sign each such report.

(2) Candidates who are seeking election, or nomination for election, and political committees that make expenditures for the purpose of influencing or attempting to influence the action of voters for or against the nomination for election, or election, of one or more candidates or balloted measures at such election, shall file the following reports:

(a) In any calendar year during which there is a regularly scheduled election, a preelection report, which shall be filed no later than the seventh day before any election in which such candidate or political committee has accepted contributions or made expenditures and which shall be complete as of the tenth day before such election;

(b) In 1987 and every fourth year thereafter, periodic reports, which shall be filed no later than the tenth day after April 30, May 31, June 30, September 30 and December 31, and which shall be complete as of the last day of each period; and

(c) In any calendar years except 1987 and except every fourth year thereafter, a report covering the calendar year which shall be filed no later than January 31 of the following calendar year.

(3) All candidates for judicial office as defined in Section 23-15-975, or their political committees, shall file in the year in which they are to be elected, periodic reports which shall be filed no later than the tenth day after April 30, May 31, June 30, September 30 and December 31.

(4) Contents of reports. Each report under this article shall disclose:

(a) For the reporting period and the calendar year, the total amount of all contributions and the total amount of all expenditures of the candidate or reporting committee which shall include those required to be identified pursuant to paragraph (ii) of this subsection as well as the total of all other contributions and expenditures during the calendar year. Such reports shall be cumulative during the calendar year to which they relate;

(b) The identification of:

(i) Each person or political committee who makes a contribution to the reporting candidate or political committee during the reporting period, whose contribution or contributions within the calendar year have an aggregate amount or value in excess of Two Hundred Dollars ($200.00) together with the date and amount of any such contribution;

(ii) Each person or organization, candidate or political committee who receives an expenditure, payment or other transfer from the reporting candidate, political committee or its agent, employee, designee, contractor, consultant or other person or persons acting in its behalf during the reporting period when the expenditure, payment or other transfer to such person, organization, candidate or political committee within the calendar year have an aggregate value or amount in excess of Two Hundred Dollars ($200.00) together with the date and amount of such expenditure;

(d) In addition to the contents of reports specified in paragraphs (a), (b) and (c) of this subsection (4), each political party shall disclose:

(i) Each person or political committee who makes a contribution to a political party during the reporting period and whose contribution or contributions to a political party within the calendar year have an aggregate amount or value in excess of Two Hundred Dollars ($200.00), together with the date and amount of the contribution;

(ii) Each person or organization who receives an expenditure by a political party or expenditures by a political party during the reporting period when the expenditure or expenditures to the person or organization within the calendar year have an aggregate value or amount in excess of Two Hundred Dollars ($200.00), together with the date and amount of the expenditure.

(5) The appropriate office specified in Section 23-15-805 must be in actual receipt of the reports specified in this article by 5:00 p.m. on the dates specified in subsection (2) of this section. If the date specified in subsection (2) of this section shall fall on a weekend or legal holiday then the report shall be due in the appropriate office at 5:00 p.m. on the first working day before the date specified in subsection (2) of this section. The reporting candidate or reporting political committee shall ensure that the reports are delivered to the appropriate office by the filing deadline. The Secretary of State may approve specific means of electronic transmission of completed campaign finance disclosure reports, which may include, but not be limited to, transmission by electronic facsimile (FAX) devices.

(6) (a) If any contribution of more than Two Hundred Dollars ($200.00) is received by a candidate or candidate's political committee after the tenth day, but more than forty-eight (48) hours before 12:01 a.m. of the day of the election, the candidate or political committee shall notify the appropriate office designated in Section 23-15-805, within forty-eight (48) hours of receipt of the contribution. The notification shall include:

(i) The name of the receiving candidate;

(ii) The name of the receiving candidate's political committee, if any;

(iii) The office sought by the candidate;

(iv) The identification of the contributor;

(v) The date of receipt;

(vi) The amount of the contribution;

(vii) If the contribution is in-kind, a description of the in-kind contribution; and

(viii) The signature of the candidate or the treasurer or director of the candidate's political committee;

(b) The notification shall be in writing, and may be transmitted by overnight mail, courier service, or other reliable means, including electronic facsimile (FAX), but the candidate or candidate's committee shall ensure that the notification shall in fact be received in the appropriate office designated in Section 23-15-805 within forty-eight (48) hours of the contribution.

(7) (a) In addition to the information required to be disclosed in subsection (4) of this section, candidates shall disclose:

(i) The identity of any individual or entity from which the candidate receives a loan or other extension of credit for use in his campaign or in furtherance of any campaign activities;

(ii) The identity of any individual or entity which assumes, in whole or in part, such loan or other extension of credit;

(iii) The identity of any individual or entity to which such loan or other extension of credit has been assigned or otherwise transferred, in whole or in part, by contract, purchase, operation of law or otherwise;

(iv) The identity of all creditors, cosigners, guarantors, assignees or other parties to such loan, extension of credit, assumption, assignment or related transaction;

(v) How such loan or other extension of credit was utilized; and

(vi) All details concerning repayment of the loan or extension of credit, including, but not limited to, the time of the repayments, the method of repayments, the amount of repayments and sources of repayments and the identity of the individuals involved in the repayment.

(b) Candidates shall also file certified copies of all documents related to the loans, extensions of credit, assumptions, assignments or transactions required to be reported or identified by this subsection.

SECTION 2. Section 23-15-1023, Mississippi Code of 1972, which provides that judicial candidates shall disclose information about certain loans, is repealed.

SECTION 3. The Attorney General of the State of Mississippi shall submit this act, immediately upon approval by the Governor, or upon approval by the Legislature subsequent to a veto, to the Attorney General of the United States or to the United States District Court for the District of Columbia in accordance with the provisions of the Voting Rights Act of 1965, as amended and extended.

SECTION 4. This act shall take effect and be in force from and after the date it is effectuated under Section 5 of the Voting Rights Act of 1965, as amended and extended.