Minn. campaign finance officials craft corporate advice
St. Paul, Minn. (AP) — Minnesota campaign regulators are developing a policy advising corporations on how to account for money they steer toward Minnesota political races.
The Campaign Finance and Public Disclosure Board reviewed a draft memorandum Tuesday that is up for adoption next month.
The board's action comes after a U.S. Supreme Court ruling struck down federal restrictions on corporate and labor union money in elections. Similar state laws were called into question, and Minnesota's ban on corporate donations is being challenged, too.
The policy recomends that corporations create a political fund if they want put dollars toward influencing elections. In the fund, corporations are advised to disclose both dollars coming from the business treasury and outside donors.
Board executive director Gary Goldsmith says the memo will be drafted into a "statement of guidance" used to help sort out complaints.
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