§ 24.2-949.7 — Large dollar contribution reporting requirement for political action committees

Virginia § 24.2-949.7

• Jurisdiction: Virginia
• Title 24.2: Elections
• Ch. 9.3: Campaign Finance Disclosure Act of 2006
• Art. 4: Political Action Committees

Text

In addition to the scheduled reports required by § 24.2-949.6, political action committees shall report any single contribution or loan of $10,000 or more received at any time during the calendar year within three business days of receipt of the contribution or loan.

1. The report shall be filed on a "large dollar contribution report" form prescribed by the State Board and shall be filed in writing or electronically in the same manner as the political action committee files its scheduled reports.

2. Any contribution or loan reported pursuant to this section shall also be reported on the next subsequent report required under § 24.2-949.6 following receipt of the contribution or loan.

3. For the purposes of this section, political action committees shall report as one contribution multiple contributions from a single source that have been subdivided into smaller amounts or given through different bank accounts for the purpose of evading the $10,000 threshold. A political action committee that receives contributions from affiliated organizations shall not be deemed to be receiving contributions from a single source.

Legislative History

1984, c. 480, § 24.1-923; 1991, cc. 9, 709; 1993, cc. 639, 641, § 24.2-923; 1995, c. 785; 2002, cc. 156, 237; 2003, c. 256; 2004, c. 26; 2005, c. 9; 2006, cc. 787, 892; 2023, c. 764.