Inaugural Fund Donations, Contribution Limits and Reporting Requirements
Pursuant to Tenn. Code Ann. 2-10-404(a), a person, including an individual, a limited liability company, partnership, limited liability partnership, association, labor organization, or any other organization or group of person (other than a corporation or the executive officers or other representatives of a corporation) may contribute up to $2,500 to the Governor’s Inaugural Fund. See also, Tenn. Code Ann. 2-10-402. These funds are not considered campaign funds, and therefore, do not trigger additional registration and/or reporting requirements by the contributor. See, Tenn. Code Ann. 2-10-102(3), (4), (5), (9), and (12)(B).
Pursuant to Tenn. Code Ann. 2-10-404(b) and (c), a multicandidate political campaign committee (PAC), a corporation doing business in this state, the executive officers of a corporation doing business in this state, or any other representatives of a corporation doing business in this state, may contribute up to $7,500 to the Governor’s Inaugural Fund. See also, Tenn. Code Ann. 2-10-402. A corporation making a contribution to the Governor’s Inaugural Fund would not “trigger” the corporation to register as a PAC under T.C.A. 2-10-102(12)(B), because contributions to the fund are not considered to be campaign funds. See, Tenn. Code Ann. 2-10-102(3), (4), (5), (9), and (12)(B).
A corporation, or other organization, affiliated with a PAC or another corporation may make a separate contributions from both the corporation and the affiliated PAC or other affiliated corporation, provided that the entities are separate and distinct entities. Thus, a corporation may not circumvent the contribution limits above by directing contributions through a conduit.
All contributions will be reportable by the Governor’s Inaugural Fund pursuant to Tenn. Code Ann. 2-10-405. A PAC required to file with the Registry of Election Finance (“the Registry”) must report any contribution to the Governor’s Inaugural Fund on the appropriate campaign finance report. However, for any PAC not otherwise required to register and report campaign contributions to the Registry, no additional reporting is required. (The Registry makes no comment or representation regarding reporting requirements under federal law or the Federal Election Commission’s jurisdiction.)
Any questions concerning the information above should be directed to Lauren Topping at email@example.com.