Iowa Admin. Code r. 351-4.30

Current through Regsiter Vol. 46, No. 26, June 12, 2024

Rule 351-4.30 - Funds from unknown source prohibited; subsequent identification of source; notice to contributors

(1)Anonymous contributions in excess of $25 prohibited. No person shall make a contribution in excess of $25 to a committee without providing the person's name and address to the committee. The committee shall not maintain in any campaign account funds in excess of $25 that cannot be accounted for and reconciled with the committee's disclosure reports.

(2)Escheat to the state. Any contribution in excess of $25 from an unknown source or campaign funds in excess of $25 that cannot be accounted for and reconciled shall escheat to the state of Iowa as required by Iowa Code section 68A.501. A committee required to escheat shall escheat such funds by depositing the funds into the committee's campaign account and issuing a committee check to the general fund in the same amount. The committee check shall be sent to the board office at 510 East 12th Street, Suite I A, Des Moines, Iowa 50319, for transmittal to the office of treasurer of state.

(3)Subsequent identification of source. A committee discovering the source of any funds that have been escheated to the state may make an application to the board for a return of the funds if the following requirements are met:

a. The committee has not dissolved;

b. Documentation of the name and address of the source is provided;

c. The amount requested to be returned is in excess of $100; and

d. The application is made within 90 days of the date of the deposit in the general fund of the state of Iowa.

(4)Notice at fund-raising event. Pursuant to Iowa Code section 68A.501, a person requested to make a contribution at a fund-raising event shall be advised that it is illegal to make a contribution in excess of $25 unless the person making the contribution also provides the person's name and address. Notice of the requirement to provide a person's name and address for a contribution in excess of $25 may be made orally or in a written statement that is displayed at the fund-raising event.

This rule is intended to implement Iowa Code section 68A.501.

Iowa Admin. Code r. 351-4.30

Amended by IAB March 24, 2021/Volume XLIII, Number 20, effective 4/28/2021