FRANKFORT, Ky. (AP) - Political groups created to advocate on
proposed constitutional amendments would have to report their
financial activities more frequently under a bill before the
Groups called 527s, which are named after a section of the IRS
code, would be affected by the proposal. So-called 527s can raise
unlimited amounts of money but must disclose donors, and their
activities must be separate from any political campaign.
Organizations or people spending more than $5,000 on a proposed
constitutional amendment would have to make weekly reports when the
legislature is in session.
The measure sponsored by Sen. Damon Thayer cleared the Senate
Tuesday and heads to the House. If passed into law, it would take
It would also require lobbyists trying to influence the passage
or failure of a proposed constitutional amendment to file weekly
reports with the Legislative Ethics Commission.
Organizations covered by the legislation would have to file
daily reports with the Registry of Election Finance for the 30 days
leading up to a general election.