Bill No.: SF0003                  Drafter:  LGC

LSO No.:  11LSO-0058              Effective Date:  2/24/2011

Enrolled Act No.:  SEA0048

Chapter No.:       74

Prime Sponsor:     Joint Corporations, Elections and Political Subdivisions Interim Committee

Catch Title:       Campaign finance-organizations.

Subject:      Removing restrictions on campaign finance expenditures of independent organizations.

Summary/Major Elements:

· The United States Supreme Court ruled in Citizens United v. Federal Election Commission, 130 S.Ct. 876 (2010), that statutes which prohibit independent and indirect campaign expenditures by organizations are unconstitutional.  Current Wyoming law prohibits those expenditures.

· This act provides that no organization may contribute funds or other election assistance directly to a candidate.  Indirect assistance, independent of the candidate, is allowed.

· This act requires any organization making an independent expenditure supporting or opposing a candidate or ballot initiative to file an itemized statement of receipts. 

· In addition, for any expenditure for campaign advertising of $500 or more, the organization must file a report identifying the organization and the person acting on behalf of the organization making the expenditure.  The report must be filed at least seven days before the election and must include the disclosure of any source of funding in excess of one thousand dollars.

· This act requires any organization making an independent expenditure to print or announce the name of the organization sponsoring the advertisement or campaign literature.