Iowa Code section 68A.503 prohibits contributions from insurance companies, savings associations, banks, credit unions, and corporations. This prohibition includes both monetary and in-kind donations.
Unlike many other jurisdictions (including federal campaigns), Iowa does not have contribution limits. Candidates running for state and local office may receive unlimited funds from individuals and PACs as long as they are properly disclosed.
Reports must include the exact date the contribution was received and the name and mailing address of the contributor. For contributors giving less than $25 in a calendar year, the contribution may be listed as “unitemized.” We recommend listing all contributions when possible for maximum disclosure and transparency.
Contributions are deemed received when they are physically in the possession of a representative of the campaign. If the contribution is made by check, the date of receipt may then be different from the date on the check. When received by mail, the date to be reported is the date the recipient physically opens the envelope.
Iowa law requires that campaign committee funds be kept in a separate bank account unless the candidate is self-funding, meaning they are paying for their entire campaign themselves. Campaign accounts must be kept with financial institutions based in Iowa.
When you open a campaign bank account, the bank may require an EIN (Employer Identification Number) which can be obtained online from the Internal Revenue Service. This requirement is imposed by the financial institutions and not our agency.
Repot due dates are set by law and vary based on the kind of committee and if the candidate is on the ballot. Iowa Code chapter 68A requires that campaign reports be submitted by 4:30 p.m. on the day they are due. Late reports are subject to automatic civil penalties.
Review the different filing deadlines or contact us at ethicsboard@iowa.gov if you aren't sure when your report is due. It is your committee's responsibility to know your filing obligations.
Candidates or treasurers that file late reports may petition for a waiver of the issued civil penalty under extraordinary circumstances. The Board considers waivers on an individual basis and are granted only in extraordinary circumstances, such as being on deployment for military service.
Committees are only required to register with the Board in the event they raise, spend, or receive loans in the aggregate of over $1,000.
Even if all your campaign contributions come from yourself, if you cross $1,000 in financial activity you are required to register your campaign committee with our agency and file regular disclosure reports. The $1,000 registration threshold is the same for all campaign committees regardless of where the $1,000 comes from.
Maybe. You can accept contributions from an LLC if the business does not file Articles of Incorporation with the Iowa Secretary of State's Office and if it is not owned by a corporation. Check with our office if you are unsure whether you can accept a campaign contribution.