Current through Register Vol. 47, No. 6, September 18, 2024
As provided in Iowa Code section
68A.503,
a financial institution, insurance company, or corporation is prohibited from
using its resources to make monetary or in-kind campaign contributions to a
candidate, candidate's committee, political committee that expressly advocates
for or against a candidate, or a political party committee. For purposes of
this chapter, "corporate entity" shall include financial institutions,
insurance companies, and corporations.
(1) The prohibition on corporate political
activity does not apply to any of the following:
a. An LLC, LLP, or any other organization
that does not file articles of incorporation and is not owned in whole or in
part by a corporation.
b. Monetary
or in-kind campaign contributions to a ballot issue committee.
c. Independent expenditure
communications.
d. A campaign
committee using a corporate entity computer to generate and file a campaign
disclosure statement or report.
(2) For purposes of this rule, prohibited
corporate activity shall include, but not be limited to, the following:
a. The physical placement of campaign
materials on corporate property except as permitted under Iowa Code sections
68A.406
and
68A.503.
b. The use of motor vehicles, telephone
equipment, long-distance lines, computers, typewriters, office space,
duplicating equipment and supplies, stationery, envelopes, labels, postage,
postage meters or communication systems of corporate entities.
c. The use of corporate entity facilities,
premises, recreational facilities and housing that are not ordinarily available
to the general public.
d. The
furnishing of beverages and other refreshments that cost in excess of $50 and
that are not ordinarily available to the general public.
e. The contributing of money of the corporate
entity.
f. Any other transaction
conducted between a corporate entity and a candidate, candidate's committee,
political committee that expressly advocates for or against candidates, or a
political party committee. Such transaction is presumed to be a corporate
contribution unless it is sufficiently demonstrated to the board that the
transaction should not be considered a prohibited contribution under Iowa Code
section
68A.503.
This rule is intended to implement Iowa Code section
68A.503.
