CHAPTER 890
An Act to provide for the regulation of federal campaign and political committees to the extent that federal law regulates Virginia campaign and political committees.
Approved March 22, 2003
Whereas, federal agencies have imposed requirements of federal law and regulations on Virginia campaign and political committees with respect to taxation, reporting, and filings; and
Whereas, comity justifies the regulation by the Commonwealth of federal campaign and political committees to the same extent that Virginia campaign and political committees are regulated by federal agencies; now, therefore,
Be it enacted by the General Assembly of Virginia:
1. § 1. Any campaign committee, political party committee, or political committee established to participate in federal elections and solicit contributions or make expenditures in Virginia in connection with a federal election or an election for office in Virginia shall be subject to requirements of Virginia law and regulations as provided herein to the same extent that Virginia campaign committees are subject to regulation under federal law.
Any such committee shall be subject to the laws and regulations pertaining to the regulation and registration of business entities pursuant to Chapters 9 (§ 13.1-601 et seq.), 10 (§ 13.1-801 et seq.) and 12 (§ 13.1-1000 et seq.) of Title 13.1 of the Code of Virginia. The State Corporation Commission shall enforce registration and filing requirements applicable to such committees.
Any such committee shall be subject to the laws and regulations pertaining to the taxation of the income of individuals or entities pursuant to Chapter 3 (§ 58.1-300 et seq.) of Title 58.1 of the Code of Virginia. The Virginia Department of Taxation shall enforce the application of Chapter 3 to such committees.