Chicago-Kent Law Review
Volume 91
Issue 3 Nonprofit Oversight Under Siege
Article 4
7-1-2015
Politics, Disclosure, and State Law Solutions for
501(c)(4) Organizations
Linda Sugin
Fordham Law School
Follow this and additional works at: http://scholarship.kentlaw.iit.edu/cklawreview
Recommended Citation
Linda Sugin, Politics, Disclosure, and State Law Solutions for 501(c)(4) Organizations, 91 Chi.-Kent. L. Rev. 895 (2016).
Available at: http://scholarship.kentlaw.iit.edu/cklawreview/vol91/iss3/4
This Article is brought to you for free and open access by Scholarly Commons @ IIT Chicago-Kent College of Law. It has been accepted for inclusion
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contact [email protected].
38015-ckt_91-3 Sheet No. 35 Side A
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ǦȋȌ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ǡǡ
ͷͲͳȋȌȋͶȌ
ȗ
ͺͻͷ
06/09/2016 10:30:17
ȗ”‘ˆ‡••‘”‘ˆƒ™ǡ‘”†Šƒƒ™…Š‘‘ŽǤƒ‰”ƒ–‡ˆ—Ž–‘‡Œƒ‹‡‹••ƒƒ†‹–…Š‡ŽŽƒ”’
ˆ‘”‡š…‡ŽŽ‡–”‡•‡ƒ”…Šƒ••‹•–ƒ…‡ǡƒ†’ƒ”–‹…‹’ƒ–•ƒ–Š‹…ƒ‰‘Ǧ‡–ǯ•…‘ˆ‡”‡…‡ˆ‘”Š‡Ž’ˆ—Ž…‘Ǧ
‡–•Ǥ
38015-ckt_91-3 Sheet No. 35 Side A
ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͺͻ͸
ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͺͻͻ
Ǥƒšš‡’–‹‘‹•‘––Š‡••—‡ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͺͻͻ
Ǥ‡†‡”ƒŽƒšƒ™‹•‡‰ƒŽŽ›‡ƒǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͲʹ
ǤǫǣǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͲͶ
ǤƒŽ‹ˆ‘”‹ƒǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͲͶ
Ǥ‡™‘”ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͲ͹
Ǥ
ǫǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͳͳ
Ǥ“—ƒŽ‹œ‹‰‘Ž‹–‹…ƒŽ‘™‡”ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͳͳ
Ǥ”‡ƒ–‹‰”‹…–‹‘•ˆ‘”—–Ǧ‘ˆǦ–ƒ–‡‘‹…‡•ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͳʹ
Ǥ”‘–‡…–‹‰‘–‡”•”‘”ƒ—†ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͳ͵
Ǥ”‘–‡…–‹‰–Š‡Šƒ”‹–ƒ„Ž‡‡…–‘”ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͳͷ
Ǥ”‘–‡…–‹‰‘’”‘ˆ‹–‘‘”•ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͳ͸
Ǥ
ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͳ͹
Ǥ‹•…Ž‘•—”‡ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͳͺ
ͳǤ Š›ƒ†ƒ–‡‹•…Ž‘•—”‡ǫǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻͳͻ
ʹǤ ‹•…Ž‘•—”‡–‘”‘–‡…–‘–‡”•ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻʹͲ
͵Ǥ ‹•…Ž‘•—”‡–‘”‘–‡…–‘’”‘ˆ‹–•‘‘”•ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻʹͳ
ͶǤ ‹•…Ž‘•—”‡–‘Š‹‡Ž†Šƒ”‹–‹‡•ˆ”‘ƒ‹–ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻʹ͵
Ǥ‘Ž‹…‡”‹˜ƒ–‡‡‡ˆ‹–•‹‘…Šƒ”‹–ƒ„Ž‡‘’”‘ˆ‹–•ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻʹͷ
Ǥ‡†‡ˆ‹‡‘’”‘ˆ‹–”‰ƒ‹œƒ–‹‘•†‡”–ƒ–‡ƒ™ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻʹ͹
Ǥ
ǫǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻʹͺ
Ǥ‘‡ƒ”‡„‘—–‘”Ǧ”‘ˆ‹–•ǫǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻʹͺ
Ǥ”‡–ƒ–‡•ƒ
‘‘†‡•–‹‰
”‘—†ˆ‘”‡†‡”ƒŽ‡‰—Žƒ–‹‘ǫǤǤͻ͵ͳ
Ǥ•‹•…Ž‘•—”‡‘”–Š–Š‡”‘—„Ž‡ǫǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻ͵ʹ
ǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤǤͻ͵ͷ
38015-ckt_91-3 Sheet No. 35 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͺͻ͸
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
CHICAGO-KENT LAW REVIEW
ȏ‘Žͻͳǣ͵
Ǥ
 ʹͲͳ͵ǡ –Š‡ –‡”ƒŽ ‡˜‡—‡ ‡”˜‹…‡ ȋȌ •—ˆˆ‡”‡† ‹–• ™‘”•–
•…ƒ†ƒŽ‹ƒ‰‡‡”ƒ–‹‘‘˜‡”‹–•–”‡ƒ–‡–‘ˆ–‡ƒǦ’ƒ”–›”‡Žƒ–‡†‘”‰ƒ‹Ǧ
œƒ–‹‘•Ǥ ͳ ‘‡ ‘ˆ –Š‡ ˆƒ…–• ƒ”‡ —†‹•’—–‡†ǣ ‘ŽŽ‘™‹‰ –Š‡ —’”‡‡
‘—”–ǯ•ʹͲͳͲCitizens United†‡…‹•‹‘ǡ ʹ’‡‘’Ž‡”—•Š‡†–‘‘”‰ƒ‹œ‡•‡…Ǧ
–‹‘ͷͲͳȋ…ȌȋͶȌ‘”‰ƒ‹œƒ–‹‘•–Šƒ–™‘—Ž†„‡ƒ…–‹˜‡‹’‘Ž‹–‹…•Ǥ ͵Š‡
™ƒ• ‘˜‡”™Š‡Ž‡† „› ƒ’’Ž‹…ƒ–‹‘•ǡ ƒ† –Š‡ ”‡‰—Žƒ–‘”› •–ƒ†ƒ”† ’”‘Ǧ
˜‹†‡†Ž‹––Ž‡‰—‹†ƒ…‡Ǥ ͶŠ‡ƒ‰‡–•ǡ™Š‘™‡”‡‘–Žƒ™›‡”•ǡ—•‡†ƒ•Š‘”–Ǧ
Šƒ† –‘ ‹†‡–‹ˆ› ‘”‰ƒ‹œƒ–‹‘• –Šƒ– ‹‰Š– ‘– ‡‡– –Š‡ •–ƒ†ƒ”† ‘ˆ
„‡‹‰Dz‘’‡”ƒ–‡†‡š…Ž—•‹˜‡Ž›ˆ‘”–Š‡’”‘‘–‹‘‘ˆ•‘…‹ƒŽ™‡Žˆƒ”‡Ǥdz ͷŠ‡
”‡ƒ•—”› ™ƒ–…Š†‘‰ ˆ‘—† –Šƒ– Dzȏ–ȐŠ‡ —•‡† ‹ƒ’’”‘’”‹ƒ–‡ …”‹–‡”‹ƒ
–Šƒ– ‹†‡–‹ˆ‹‡† ˆ‘” ”‡˜‹‡™ ‡ƒ ƒ”–› ƒ† ‘–Š‡” ‘”‰ƒ‹œƒ–‹‘• ƒ’’Ž›‹‰
ˆ‘” –ƒšǦ‡š‡’– •–ƒ–—• „ƒ•‡† —’‘ –Š‡‹” ƒ‡• ‘” ’‘Ž‹…› ’‘•‹–‹‘•Ǥdz ͸
•–‡ƒ†‘ˆ‹†‡–‹ˆ›‹‰’‘••‹„Ž‡‹‡Ž‹‰‹„Ž‡‘”‰ƒ‹œƒ–‹‘•„›–Š‡‹”ƒ‡•
ȋ‹…Ž—†‹‰Dzƒ–”‹‘–•dzƒ†DzͻȀͳʹdzȌǡ–Š‡•Š‘—Ž†Šƒ˜‡†‡–‡”‹‡†‡Ž‹Ǧ
‰‹„‹Ž‹–›ˆ‘”‡š‡’–‹‘„›ƒƒŽ›œ‹‰™Š‡–Š‡”–Š‡‘”‰ƒ‹œƒ–‹‘••ƒ–‹•ˆ‹‡†
–Š‡ ”‡‰—Žƒ–‘”› ”‡“—‹”‡‡–• …‘…‡”‹‰ ’‘Ž‹–‹…ƒŽ ƒ…–‹˜‹–›Ǥ ͹ ‹…‡ –Šƒ–
–‹‡ǡ–Š‡Šƒ•„‡‡’ƒ”ƒŽ›œ‡†‹–Š‹•ƒ”‡ƒǡƒ†–Š‡‡†‡”ƒŽŽ‡…–‹‘
‘‹••‹‘Šƒ•„‡‡†‡ƒ†Ž‘…‡†Ǥ ͺ
Š‡’‘•–ǦCitizens United‡š’Ž‘•‹‘‘ˆȋ…ȌȋͶȌ’‘Ž‹–‹…ƒŽƒ…–‹˜‹–›Ȅƒ†
–Š‡ ˆ‡†‡”ƒŽ ‰‘˜‡”‡–ǯ• †›•ˆ—…–‹‘Ȅ†‹† ‘– ‰‘ —‘–‹…‡† „› –Š‡
•–ƒ–‡•Ǥ ͻŠ‹Ž‡–Š‡ˆ‡†‡”ƒŽ‰‘˜‡”‡–™ƒ•ƒ–ƒ‹’ƒ••‡ǡ•‘‡•–ƒ–‡•
ƒ––‡’–‡†–‘„”‹†‰‡–Š‡‰ƒ’Ǥ ͳͲ‡†‡”ƒŽŽƒ™†‡–‡”‹‡•–ƒš‡š‡’–‹‘ǡ
„—–•–ƒ–‡Žƒ™†‡ˆ‹‡•…Šƒ”‹–ƒ„Ž‡ƒ†‘…Šƒ”‹–ƒ„Ž‡‘’”‘ˆ‹–‘”‰ƒ‹œƒǦ
06/09/2016 10:30:17
ͳǤ ‘” ƒ …‘’”‡Š‡•‹˜‡ ƒ† ‡š…‡ŽŽ‡– †‹•…—••‹‘ ‘ˆ –Š‡ ‹…‹†‡– ƒ† ‹–• ƒˆ–‡”ƒ–Šǡ •‡‡
˜‡Ž›”‘†›Ƭƒ”…—•™‡•ǡExile to Main Street: The I.R.S.’s Diminished Role in Overseeing TaxExempt OrganizationsǡͻͳǤǦǤǤͺͷͻȋʹͲͳ͸ȌǤ
ʹǤ ‹–‹œ‡•‹–‡†˜Ǥ‡†ǤŽ‡…–‹‘‘ǯǡͷͷͺǤǤ͵ͳͲȋʹͲͳͲȌǤ
͵Ǥ ‡ƒ —ŽŽ‹˜ƒǡ What is a 501(c)(4), Anyway?ǡ Ǥ ȋƒ› ͳ͵ǡ ʹͲͳ͵Ȍǡ
Š––’•ǣȀȀ™™™Ǥ™ƒ•Š‹‰–‘’‘•–Ǥ…‘Ȁ‡™•Ȁ–Š‡Ǧˆ‹šȀ™’ȀʹͲͳ͵ȀͲͷȀͳ͵Ȁ™Šƒ–Ǧ‹•ǦƒǦͷͲͳ…ͶǦƒ›™ƒ›ȀǤ
ͶǤ ”ƒ†Ž—‡”ǡHow is the IRS Supposed to Vet 501(c)(4) Groups, Anyway?ǡǤȋƒ›
ͳͶǡ ʹͲͳ͵Ȍǡ Š––’•ǣȀȀ™™™Ǥ™ƒ•Š‹‰–‘’‘•–Ǥ…‘Ȁ‡™•Ȁ™‘Ȁ™’ȀʹͲͳ͵ȀͲͷȀͳͶȀŽ‡–•Ǧ„ƒ…Ǧ—’ǦŠ‘™Ǧ
‹•Ǧ–Š‡Ǧ‹”•Ǧ•—’’‘•‡†Ǧ–‘Ǧ•…”—–‹‹œ‡ǦͷͲͳ…Ͷ•Ǧƒ›™ƒ›ȀǤ
ͷǤ See id.ǢǤǤǤȚͷͲͳȋ…ȌȋͶȌȋʹͲͳͶȌǤ
͸Ǥ Ǥ Ǥǡ ǦȋʹͲͳ͵Ȍǡ
Š––’ǣȀȀ™™™Ǥ–”‡ƒ•—”›Ǥ‰‘˜Ȁ–‹‰–ƒȀƒ—†‹–”‡’‘”–•ȀʹͲͳ͵”‡’‘”–•ȀʹͲͳ͵ͳͲͲͷ͵ˆ”Ǥ’†ˆǤ
͹Ǥ Id.ƒ–ͷǤ
ͺǤ See ”‹… ‹…Š–„Žƒ—ǡ F.E.C. Can’t Curb 2016 Election Abuse, Commission Chief Saysǡ ǤǤ
ȋƒ› ʹǡ ʹͲͳͷȌǡ Š––’ǣȀȀ™™™Ǥ›–‹‡•Ǥ…‘ȀʹͲͳͷȀͲͷȀͲ͵Ȁ—•Ȁ’‘Ž‹–‹…•Ȁˆ‡…Ǧ…ƒ–Ǧ…—”„ǦʹͲͳ͸Ǧ
‡Ž‡…–‹‘Ǧƒ„—•‡Ǧ…‘‹••‹‘Ǧ…Š‹‡ˆǦ•ƒ›•ǤŠ–ŽǤ
ͻǤ See infraƒ”–Ǥ
ͳͲǤ See infraƒ”–Ǥ
38015-ckt_91-3 Sheet No. 35 Side B
38015-ckt_91-3 Sheet No. 36 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͺͻ͹
–‹‘• ƒ† ”‡‰—Žƒ–‡• –Š‡‹” ‰‘˜‡”ƒ…‡Ǥ ͳͳ ˆ ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘• ƒ”‡
‘’‡”ƒ–‡†–‘–Š‡†‡–”‹‡–‘ˆ–Š‡’—„Ž‹…‹–‡”‡•–ǡ•–ƒ–‡ƒ––‘”‡›•‰‡‡”ƒŽ
Šƒ˜‡ –Š‡ ’‘™‡” –‘ ‹˜‡•–‹‰ƒ–‡ ƒ† †‹•…‹’Ž‹‡ –Š‡Ǥ ͳʹ ‡™ ‘” ƒ†
ƒŽ‹ˆ‘”‹ƒ Šƒ˜‡ „‘–Š ƒ––‡’–‡† –‘ ƒ††”‡•• –Š‡ •ƒ‡ …‘…‡”• ƒ„‘—–
•‡…”‡–‘‡›‹’‘Ž‹–‹…•–Šƒ–Ž‡†–‘–Š‡•…ƒ†ƒŽƒ†’”‘’‘•‡†”‡‰—Ǧ
Žƒ–‹‘•Ǥ ͳ͵
Š‹• ƒ”–‹…Ž‡ ƒ•• ™Š‡–Š‡” –Š‡ •–ƒ–‡• …ƒ ȋƒ† •Š‘—Ž†Ȍ —•‡ •–ƒ–‡
‘’”‘ˆ‹–•Žƒ™–‘•‘Ž˜‡–Š‡’”‘„Ž‡‘ˆ†ƒ”‘‡›•’‡–„›‘’”‘ˆ‹–
‘Ǧ…Šƒ”‹–ƒ„Ž‡‘”‰ƒ‹œƒ–‹‘•Ǥ‹…‡–Š‡’”‘„Ž‡‘ˆȋ…ȌȋͶȌ’‘Ž‹–‹…‹‰‹•
‘– ƒ ”‡˜‡—‡ ‹••—‡ǡ ͳͶ –Š‡ –‡”ƒŽ ‡˜‡—‡ ‡”˜‹…‡ ‹• …Ž‡ƒ”Ž› ‘– –Š‡
‹†‡ƒŽ”‡‰—Žƒ–‘”Ǥƒ”‘‡›ƒ›„‡solelyƒ‡Ž‡…–‹‘Žƒ™’”‘„Ž‡ǡ‹
™Š‹…Š…ƒ•‡‹–™‘—Ž†„‡‡š…Ž—•‹˜‡Ž›‹–Š‡†‘ƒ‹‘ˆ–Š‡ƒ†•–ƒ–‡
‡Ž‡…–‹‘ ”‡‰—Žƒ–‘”•ǡ ƒ† ‘– ‹ –Š‡ ’—”˜‹‡™ ‘ˆ •–ƒ–‡ ‘’”‘ˆ‹–• Žƒ™Ǥ
‘™‡˜‡”ǡ ‹ˆ –Š‡”‡ ƒ”‡ …‘…‡”• ƒ„‘—– ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘• ‹ ’‘Ž‹Ǧ
–‹…• –Šƒ– ‹’Ž‹…ƒ–‡ –Š‡ ’‘Ž‹…‹‡• ”‡Žƒ–‹‰ –‘ ‘’”‘ˆ‹–•ǡ –Š‡”‡ ‹‰Š– „‡
•‘‡–Š‹‰„‡›‘†‡Ž‡…–‹‘Žƒ™ƒ–‹••—‡–Šƒ–•–ƒ–‡‘’”‘ˆ‹–Žƒ™‹‰Š–
ƒ††”‡••Ǥ
Š‡”‡ƒ”‡–Š”‡‡”‡ƒ•‘•™Š›•–ƒ–‡…Šƒ”‹–›”‡‰—Žƒ–‘”•‹‰Š–‹–‡”Ǧ
˜‡‡‹–Š‹•ƒ”‡ƒǣȋͳȌ–‘’”‘–‡…–…Šƒ”‹–‹‡•ǡȋʹȌ–‘’”‘–‡…–˜‘–‡”•ǡƒ†ȋ͵Ȍ
–‘’”‘–‡…–†‘‘”•–‘‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•Ǥ ͳͷˆ†ƒ”‘‡›‹•†ƒƒ‰Ǧ
‹‰ –Š‡ ”‡’—–ƒ–‹‘ ƒ† ‹–‡‰”‹–› ‘ˆ –Š‡ ‘’”‘ˆ‹– •‡…–‘” ƒ• ƒ ™Š‘Ž‡ǡ
•–ƒ–‡• ƒ› Ž‡‰‹–‹ƒ–‡Ž› ”‡‰—Žƒ–‡ ‘…Šƒ”‹–ƒ„Ž‡ ‘’”‘ˆ‹–• –‘ protect
charities ˆ”‘ ‡‰ƒ–‹˜‡ …‘•‡“—‡…‡•Ǥ ͳ͸ Š‡ ‰‡‡”ƒŽ ’—„Ž‹… •‡‡• –‘
…‘ˆ—•‡ ͷͲͳȋ…Ȍȋ͵Ȍ ™‹–Š ͷͲͳȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘•ǡ ˆƒ‹Ž‹‰ –‘ ƒ’’”‡…‹ƒ–‡
–Š‡‹” Ž‡‰ƒŽ †‹•–‹…–‹‘Ǥͳ͹ ‘•‡“—‡–Ž›ǡ •–ƒ–‡• Šƒ˜‡ ƒ ‹–‡”‡•– ‹ ’”‡Ǧ
06/09/2016 10:30:17
ͳͳǤ See, e.g.ǡApplying for Exemption – Difference Between Nonprofit and Tax-Exempt Statusǡ
Ǥǡ Š––’•ǣȀȀ™™™Ǥ‹”•Ǥ‰‘˜ȀŠƒ”‹–‹‡•ǦƬǦ‘Ǧ”‘ˆ‹–•Ȁ’’Ž›‹‰Ǧˆ‘”Ǧš‡’–‹‘Ǧ
‹ˆˆ‡”‡…‡Ǧ‡–™‡‡Ǧ‘’”‘ˆ‹–Ǧƒ†ǦƒšǦš‡’–Ǧ–ƒ–—•ȋŽƒ•–˜‹•‹–‡†ƒ”Ǥͳ͸ǡʹͲͳ͸ȌǤ
ͳʹǤ See, e.g.ǡǤ
ǯȚȚͳʹͷͺͲǦͳʹͷͻͻǤͺȋ‡•–ʹͲͳ͸ȌǤ
ͳ͵Ǥ See infra ƒ”–Ǥ‡‹–Š‡”‘ˆ–Š‡•–ƒ–‡”—Ž‡•Šƒ•›‡–„‡‡–‡•–‡†‹–Š‡…‘—”–•ˆ‘”…‘•–‹–—Ǧ
–‹‘ƒŽ‹–›Ǥ ‘™‡˜‡”ǡ ƒŽ‹ˆ‘”‹ƒ Šƒ• „‡‡ Ž‹–‹‰ƒ–‹‰ –‘ …‘’‡Ž …‘ˆ‹†‡–‹ƒŽ †‹•…Ž‘•—”‡Ȅ–‘ –Š‡ ‘Ž›ƒ†‘––Š‡’—„Ž‹…Ȅ‘ˆ†‘‘”•–‘‘”‰ƒ‹œƒ–‹‘•ƒ••‘…‹ƒ–‡†™‹–Š–Š‡‘…Š„”‘–Š‡”•Ǥ‡”‹…ƒ•
ˆ‘” ”‘•’‡”‹–› ‘—†Ǥ ˜Ǥ ƒ””‹•ǡ ‘Ǥ ʹǣͳͶǦ…˜ǦͻͶͶͺǦǦǡʹͲͳͷ ͹͸ͻ͹͹ͺǡƒ–ȗͳȋǤǤƒŽǤ ‡„Ǥ
ʹ͵ǡ ʹͲͳͷȌǡ vacatedǡ ͺͲͻ Ǥ͵† ͷ͵͸ ȋͻ–Š ‹”Ǥ ʹͲͳͷȌǤ Š‡ •–ƒ–‡ ”‡…‡–Ž› ’”‡˜ƒ‹Ž‡† ‹ ƒ ’”‡Ž‹‹ƒ”›
‹Œ—…–‹‘ ‹˜‘Ž˜‹‰ ƒ ȋ…Ȍȋ͵Ȍ ‘”‰ƒ‹œƒ–‹‘Ǥ –”Ǥ ˆ‘” ‘’‡–‹–‹˜‡ ‘Ž‹–‹…• ˜Ǥ ƒ””‹•ǡ ͹ͺͶ Ǥ͵† ͳ͵Ͳ͹
ȋͻ–Š‹”ǤʹͲͳͷȌǤ
ͳͶǤ ‘‰‡”‘Ž‹˜ƒ—šǡPolitical Activity Limits and Tax Exemption: A Gordian’s Knotǡ͵ͶǤ
Ǥͳǡ͵ȋʹͲͳͶȌȋDz‘Ž‹–‹…ƒŽƒ…–‹˜‹–›‹•ƒ„‘—–•’‡‡…Šǡƒ†–ƒšƒ–‹‘‹•ƒ„‘—–”ƒ‹•‹‰”‡˜‡—‡ǤŠ‡›†‘
‘–•‡‡†‹”‡…–Ž›…‘‡…–‡†ǤdzȌǤ
ͳͷǤ See infra ‡…–‹‘•ǡǤ
ͳ͸Ǥ See infra ‡…–‹‘•ǤǡǤǤͶǤ
ͳ͹Ǥ See, e.g.ǡƒ––‡”‹—•ǡ501(c)4 vs 501(c)3 vs 527ǡ ȋƒ›ͳ͸ǡʹͲͳ͵Ȍǡ
Š––’ǣȀȀ™™™Ǥ‘—–•‹†‡–Š‡„‡Ž–™ƒ›Ǥ…‘ȀͷͲͳ…ͶǦ˜•ǦͷͲͳ…͵Ǧ˜•Ǧͷʹ͹ȀǢ cf. Ǥ Ǥǡsupra‘–‡͸Ǥ
38015-ckt_91-3 Sheet No. 36 Side A
38015-ckt_91-3 Sheet No. 36 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͺͻͺ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
06/09/2016 10:30:17
ͳͺǤ See infra ‡…–‹‘•ǤǡǡǤǤʹǦ͵Ǥ
ͳͻǤ •—ƒŽŽ›ǡ–Š‡†‘‘”•ƒ”‡–‘…Šƒ”‹–‹‡•ǡ•‹…‡•–ƒ–‡Žƒ™…ƒ”‡ˆ—ŽŽ›”‡‰—Žƒ–‡•–Š‡—•‡‘ˆ…Šƒ”‹–ƒǦ
„Ž‡‰‹ˆ–•„›‘”‰ƒ‹œƒ–‹‘•”‡…‡‹˜‹‰–Š‡Ǥ
ʹͲǤ See infra‡…–‹‘ǤǤ
ʹͳǤ See‹Ž‡›˜Ǥƒ–ǯŽ‡†ǯ‘ˆ–Š‡Ž‹†‘ˆǤǤǡ…ǤǡͶͺ͹ǤǤ͹ͺͳȋͳͻͺͺȌǢ‡…ǯ›‘ˆ–ƒ–‡‘ˆ†Ǥ
˜Ǥ‘•‡’ŠǤ—•‘‘ǤǡͶ͸͹ǤǤͻͶ͹ȋͳͻͺͶȌǢ‹ŽŽǤ‘ˆ…Šƒ—„—”‰˜Ǥ‹–‹œ‡•ˆ‘”ƒ‡––‡”˜ǯ–ǡ
ͶͶͶǤǤ͸ʹͲȋͳͻͺͲȌǤ
ʹʹǤ SeeŽŽǤex rel.ƒ†‹‰ƒ˜Ǥ‡Ž‡ƒ”‡–‹‰••‘…•Ǥǡ…Ǥǡͷ͵ͺǤǤ͸ͲͲȋʹͲͲ͵ȌǤ
38015-ckt_91-3 Sheet No. 36 Side B
˜‡–‹‰”‡’—–ƒ–‹‘ƒŽ†ƒƒ‰‡–‘…Šƒ”‹–ƒ„Ž‡‘”‰ƒ‹œƒ–‹‘•‘ƒ……‘—–‘ˆ
„ƒ† „‡Šƒ˜‹‘” „› ‘…Šƒ”‹–ƒ„Ž‡ ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘•Ǥ  ƒ††‹–‹‘ǡ
•–ƒ–‡• ƒ› „‡ Œ—•–‹ˆ‹‡† ‹ ”‡‰—Žƒ–‹‰ ’‘Ž‹–‹…‹‰ ‘’”‘ˆ‹–• –‘ ’”‘–‡…–
–Š‡’—„Ž‹…‹–•‡Žˆǡ‡‹–Š‡”as donors ‘” as votersǤ ͳͺ—…Š‘ˆ•–ƒ–‡‘’”‘ˆ‹–
Žƒ™‹•†‡•‹‰‡†–‘’”‘–‡…–†‘‘”•ǡ ͳͻ•‘‹ˆ”‡‰—Žƒ–‹‰’‘Ž‹–‹…ƒŽ•’‡‡…Š‹•
†‡•‹‰‡† –‘ ’”‘–‡…– †‘‘”• ™Š‘ ‹‰Š– —™‹––‹‰Ž› •—’’‘”– ’‘Ž‹–‹…ƒŽ
ƒ…–‹˜‹–›ǡ–Š‡•–ƒ–‡‘’”‘ˆ‹–•”‡‰—Žƒ–‘”•ƒ”‡‹ƒˆƒ‹Ž‹ƒ”‹•–‹–—–‹‘ƒŽ
”‘Ž‡Ǥ‘‘”…‘ˆ—•‹‘‹•—†‡”•–ƒ†ƒ„Ž‡•‹…‡ͷͲͳȋ…ȌȋͶȌ‘”‰ƒ‹œƒ–‹‘•
ƒ”‡…ƒ–‡‰‘”‹œ‡†ƒ•Dz•‘…‹ƒŽ™‡Žˆƒ”‡dz‘”‰ƒ‹œƒ–‹‘•Ǣ†‘‘”•ƒ›”‡ƒ•‘ƒǦ
„Ž›‡š’‡…––Šƒ––Š‡‹”†‘ƒ–‹‘••—’’‘”–•‘…‹ƒŽ™‡Žˆƒ”‡ƒ…–‹˜‹–‹‡•ǡ”ƒ–Š‡”
–Šƒ’‘Ž‹–‹…‹‰Ǥ
Š‡ ˆ‹ƒŽ •–ƒ–‡ ’‘Ž‹…›ǡ ’”‘–‡…–‹‰ –Š‡ ’—„Ž‹… as votersǡ ˜‡‡”•ƒ™ƒ›
ˆ”‘ ‘’”‘ˆ‹–• Žƒ™ ‹–‘ …Ž‡ƒ” ‡Ž‡…–‹‘ Žƒ™ –‡””‹–‘”›Ǥ ‡˜‡”–Š‡Ž‡••ǡ
•–ƒ–‡ƒ––‘”‡›•‰‡‡”ƒŽŠƒ˜‡ƒ‹–‡”‡•–‹’”‡˜‡–‹‰–Š‡’—„Ž‹…ˆ”‘
„‡‹‰‹•Ž‡†Ǥ ʹͲ–ƒ–‡‘’”‘ˆ‹–•Žƒ™‹•ƒŽ”‡ƒ†›…‘…‡”‡†™‹–Š’”‡˜‡–Ǧ
‹‰ˆ”ƒ—†’‡”’‡–”ƒ–‡†„›„‘‰—•…Šƒ”‹–‹‡•ƒ†—•…”—’—Ž‘—••‘Ž‹…‹–‘”•Ǥˆ
‹–‹•ˆ”ƒ—†—Ž‡––‘’”‡–‡†–‘„‡•‘‡‘‡‡Ž•‡‘”–‘•’‡ƒƒ‘›‘—•Ž›
‹ƒ’‘Ž‹–‹…ƒŽ…‘—‹…ƒ–‹‘ǡ–Š‡‘’”‘ˆ‹–”‡‰—Žƒ–‘”•‹‰Š–ƒ’’”‘ƒ…Š
–Š‡’”‘„Ž‡ƒ•ƒƒŽ‘‰‘—•–‘…Šƒ”‹–ƒ„Ž‡•‘Ž‹…‹–ƒ–‹‘Ǥ‘–Š’‘Ž‹–‹…ƒŽ…ƒǦ
’ƒ‹‰ ƒ…–‹˜‹–› ƒ† …Šƒ”‹–ƒ„Ž‡ •‘Ž‹…‹–ƒ–‹‘• ”ƒ‹•‡ ‹”•– ‡†‡– ‹•Ǧ
•—‡•ǤŠ‡—’”‡‡‘—”–Šƒ•”‡’‡ƒ–‡†Ž›•–”—…†‘™•–ƒ–—–‘”›Ž‹‹–•
‘ …Šƒ”‹–ƒ„Ž‡ •‘Ž‹…‹–ƒ–‹‘ —†‡” –Š‡ ‹”•– ‡†‡–ǡ ʹͳ „—– ‹– Šƒ• ƒŽǦ
Ž‘™‡†•–ƒ–‡•–‘’”‘•‡…—–‡…Šƒ”‹–ƒ„Ž‡ˆ—†”ƒ‹•‡”•ˆ‘”‹•Ž‡ƒ†‹‰’‘–‡Ǧ
–‹ƒŽ†‘‘”•Ǥ ʹʹ
Š‹• ƒ”–‹…Ž‡ ’”‘…‡‡†• ƒ• ˆ‘ŽŽ‘™•ǣ Š‡ ‡š– ƒ”– ’”‘˜‹†‡• ƒ „”‹‡ˆ
„ƒ…‰”‘—†–‘–Š‡…—””‡–•‹–—ƒ–‹‘ƒ†‡š’Žƒ‹•™Š›ˆ‡†‡”ƒŽ–ƒšŽƒ™‹•
‘––Š‡ƒ’’”‘’”‹ƒ–‡Ž‘…—•‘ˆ”‡‰—Žƒ–‹‘Ǥˆ–‡”–Šƒ–ǡ†‡•…”‹„‡–Š‡•–‡’•
–Šƒ– ƒŽ‹ˆ‘”‹ƒ ƒ† ‡™ ‘” Šƒ˜‡ –ƒ‡ –‘ ”‡†—…‡ –Š‡ ‹ˆŽ—‡…‡ ‘ˆ
†ƒ”‘‡›‹–Š‡‹”‡Ž‡…–‹‘•Ǥ‘–Š•–ƒ–‡•™‡”‡‘–‹˜ƒ–‡†„›•’‡…‹ˆ‹…
‹…‹†‡–• ‹˜‘Ž˜‹‰ ‘—–Ǧ‘ˆǦ•–ƒ–‡ ‹–‡”‡•–•ǡ ƒ† „‘–Š •–ƒ–‡• ˆƒ…‡† •—„Ǧ
•–ƒ–‹ƒŽ ’”‡••—”‡• ˆ”‘ …‘•–‹–—‡…‹‡• ‘’’‘•‡† –‘ ”‡‰—Žƒ–‹‘Ǥ ƒ”– …‘•‹†‡”• ’‘••‹„Ž‡ •–ƒ–‡ Žƒ™ ’‘Ž‹…‹‡• ˆ‘” ”‡‰—Žƒ–‹‰ †ƒ” ‘‡›ǡ ƒ†
ƒ”–…‘•‹†‡”•–Š‡”‡‰—Žƒ–‘”›•‘Ž—–‹‘•–Šƒ–…‘””‡•’‘†–‘–Š‘•‡’‘ŽǦ
38015-ckt_91-3 Sheet No. 37 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
STATE LAW SOLUTIONS
ͺͻͻ
‹…‹‡•Ǥƒ”–•–‡’•„ƒ…–‘ƒ••‡••–Š‡†‡•‹”ƒ„‹Ž‹–›‘ˆ•–ƒ–‡‘’”‘ˆ‹–Žƒ™
”‡‰—Žƒ–‹‘ǡ …‘•‹†‡”‹‰ –Š‡ Ž‡‰ƒŽ ƒ† ’”ƒ…–‹…ƒŽ ’”‘„Ž‡• ™‹–Š •–ƒ–‡•
—†‡”–ƒ‹‰–Š‹•”‡‰—Žƒ–‹‘ǤŽ–Š‘—‰Š–Š‡•–ƒ–‡•…ƒƒ…Š‹‡˜‡•‘‡‹Ǧ
’‘”–ƒ– ‰‘ƒŽ•ǡ –Š‡ …‘…Ž—•‹‘ ‹ ƒ”– ‡š’”‡••‡• •‡’–‹…‹• ƒ– –Š‡
•–ƒ–‡•ǯƒ„‹Ž‹–›–‘•‘Ž˜‡–Š‡ȋ…ȌȋͶȌ’‘Ž‹–‹…‹‰‡••Ǥ
Ǥ
A. Tax Exemption is Not the Issue
06/09/2016 10:30:17
ʹ͵Ǥ See‘Ž‹˜ƒ—šǡsupra‘–‡ͳͶǤ
ʹͶǤ ǤǤǤȚȚͷͲͳǡͷʹ͹ȋʹͲͳͶȌǤ
ʹͷǤ See ‘ƒŽ† Ǥ ‘„‹ǡ ‹–‹œ‡• ‹–‡† and Taxable Entities: Will Taxable Entities Be the
New Stealth Dark Money Campaign Organizations?ǡͶͻǤǤǤͷͺ͵ǡͷͻͷȋʹͲͳͷȌȋDzˆ‘‰”‡••ǡ
–Š‡”‡ƒ•—”›‘”–Š‡‡”˜‹…‡•—……‡••ˆ—ŽŽ›”‡ˆ‘”•–Š‡…—””‡–•–”—…–—”‡–‘‡•—”‡†‘‘”†‹•…Ž‘•—”‡
„›–ƒšǦ‡š‡’–‰”‘—’•ǡȏ‹†‡’‡†‡–‰”‘—’•Ȑƒ›•‹’Ž›”‡‘”‰ƒ‹œ‡ƒ•–ƒšƒ„Ž‡‡–‹–‹‡•ƒ†•‡‡
™ƒ›•–‘Ž‹‹––Š‡‹”–ƒšŽ‹ƒ„‹Ž‹–›ǤdzȌǢ‘Ž‹˜ƒ—šǡsupra‘–‡ͳͶǡƒ–ͷǤ
ʹ͸Ǥ ƒ‹‡ŽǤ‹”„›ǡ‘–‡ǡThe Legal Quagmire of IRC § 501(c)(4) Organizations and the Consequential Rise of Dark Money in ElectionsǡͻͲǤǦǤǤʹʹ͵ǡʹʹ͸ȋʹͲͳͷȌǤ
ʹ͹Ǥ Ǥ ǡ ǯ ͷͲͳȋȌȋͶȌ ʹ ȋƒ› ʹͲǡ ʹͲͳ͵Ȍǡ
Š––’ǣȀȀ†‹‰‹–ƒŽ…‘‘•ǤŽƒ™Ǥ—ƒ”›Žƒ†Ǥ‡†—Ȁ…‰‹Ȁ˜‹‡™…‘–‡–Ǥ…‰‹ǫƒ”–‹…Ž‡αʹͶͻͳƬ…‘–‡š–αˆƒ…̴’—„•Ǥ
ʹͺǤ ‡…–‹‘ ͷͲͳȋ…Ȍȋ͵Ȍ ‘”‰ƒ‹œƒ–‹‘• ƒ”‡ ‡Ž‹‰‹„Ž‡ –‘ ”‡…‡‹˜‡ †‡†—…–‹„Ž‡ …‘–”‹„—–‹‘•Ǥ Šƒ–
†‡†—…–‹‘‹•™‘”–Š”‡ƒŽ‘‡›–‘†‘‘”•Ȅ—’–‘–Š‡ƒ‘—–‘ˆ–Š‡…‘–”‹„—–‹‘—Ž–‹’Ž‹‡†„›–Š‡
†‘‘”ǯ•ƒ”‰‹ƒŽ–ƒš”ƒ–‡ǤSeeǤǤǤȚͳ͹ͲȋʹͲͳͶȌǤ
38015-ckt_91-3 Sheet No. 37 Side A
–‹•…—”‹‘—•–Šƒ–ˆ‡†‡”ƒŽ–ƒšŽƒ™‹•–Š‡ˆ‘…—•‘ˆƒ––‡–‹‘ˆ‘”†ƒ”
‘‡› ‹ ’‘Ž‹–‹…•ǡ ‰‹˜‡ –Šƒ– –Š‡”‡ ‹• ‘ ”‡˜‡—‡ ƒ– •–ƒ‡Ǥ ʹ͵ ’‡Ž›
’‘Ž‹–‹…ƒŽ ‘”‰ƒ‹œƒ–‹‘• ȋŽ‹‡ ‘Ž‹–‹…ƒŽ …–‹‘ ‘‹––‡‡•Ȍ ƒ”‡ ‡š‡’–
ˆ”‘ –ƒšǡ ƒ• ƒ”‡ •‘…‹ƒŽ ™‡Žˆƒ”‡ ‘”‰ƒ‹œƒ–‹‘• ƒ† ‘–Š‡” ͷͲͳȋ…Ȍ ‘Ǧ
…Šƒ”‹–ƒ„Ž‡ ‘’”‘ˆ‹–•Ǥ ʹͶ Š‡ ’”‘„Ž‡ ‹• ‘– ƒ –ƒš ’”‘„Ž‡ „‡…ƒ—•‡ ‹–
†‘‡•‘–‹˜‘Ž˜‡’‘Ž‹…‹‰™Šƒ–•Š‘—Ž†„‡–ƒš‡†ƒ†™Šƒ–•Š‘—Ž†ǯ–„‡
–ƒš‡†Ǣ –Š‡ •ƒ‡ “—‡•–‹‘• ƒ„‘—– †ƒ” ‘‡› ‹ ’‘Ž‹–‹…• ™‘—Ž† ƒ”‹•‡
”‡‰ƒ”†Ž‡••‘ˆƒ‘”‰ƒ‹œƒ–‹‘ǯ•–ƒš•–ƒ–—•Ǥ ʹͷ‘„‘†›‹••—‰‰‡•–‹‰–Šƒ–
–Š‡ ‹…”‡ƒ•‡ ‘˜‡”•‹‰Š– ‹ ‘”†‡” –‘ …‘ŽŽ‡…– ‘”‡ –ƒšǡ ƒ† –Š‡ Ž‡‰ƒŽ
•–”—…–—”‡ ‰‘˜‡”‹‰ ‡š‡’– ‘”‰ƒ‹œƒ–‹‘• —†‡” –Š‡ –ƒš Žƒ™ ƒ› „‡
–‘‘™‡ƒ–‘•—’’‘”–•—„•–ƒ–‹ƒŽ”‡‰—Žƒ–‹‘‘ˆ’‘Ž‹–‹…ƒŽ•’‡‡…ŠǤ
Š‡†ƒ”‘‡›’”‘„Ž‡ƒ›Šƒ˜‡‡š’Ž‘†‡†”‡…‡–Ž›ǡ„—–•‡…–‹‘
ͷͲͳȋ…ȌȋͶȌ Šƒ• „‡‡ ’ƒ”– ‘ˆ –Š‡ ‹…‘‡ –ƒš •‹…‡ ͳͻͳ͵Ǥ ʹ͸ Šƒ– •‡…–‹‘
‡š‡’–• …‹˜‹… Ž‡ƒ‰—‡•ǡ ‡’Ž‘›‡‡•ǯ ‘”‰ƒ‹œƒ–‹‘•ǡ ƒ† •‘…‹ƒŽ ™‡Žˆƒ”‡
‘”‰ƒ‹œƒ–‹‘• ˆ”‘ –ƒšǤ ƒš ‡š‡’–‹‘ ‡ƒ• –Šƒ– ‹…‘‡ ‡ƒ”‡† „›
ƒ‘”‰ƒ‹œƒ–‹‘‹•‘–•—„Œ‡…––‘ȋ…‘”’‘”ƒ–‡Ȍ–ƒšǤ ʹ͹—–‹ˆƒ‘”‰ƒ‹œƒǦ
–‹‘ Šƒ• ‘ ‹…‘‡ǡ ‹– ”‡…‡‹˜‡• ‘ ‡…‘‘‹… „‡‡ˆ‹– ˆ”‘ –ƒš ‡š‡’Ǧ
–‹‘ǡ •‘ ͷͲͳȋ…ȌȋͶȌ ‹• ‘– ˆ‹ƒ…‹ƒŽŽ› •‹‰‹ˆ‹…ƒ– ˆ‘” ‘”‰ƒ‹œƒ–‹‘•
™‹–Š‘—–‡†‘™‡–•Ǥ‡†—…–‹„‹Ž‹–›‘ˆ†‘‘”…‘–”‹„—–‹‘•‹•‰‡‡”ƒŽŽ›
‘”‡ ˜ƒŽ—ƒ„Ž‡ –Šƒ ƒ ‘”‰ƒ‹œƒ–‹‘ǯ• ‘™ ‡š‡’–‹‘ ˆ”‘ –ƒšǡ ʹͺ „—–
38015-ckt_91-3 Sheet No. 37 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻͲͲ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
06/09/2016 10:30:17
ʹͻǤ See ǡsupra‘–‡ʹ͹ǡƒ–͸Ǥ
͵ͲǤ See id.
͵ͳǤ ”‡ƒ•Ǥ‡‰ǤȚͳǤͷͲͳȋ…ȌȋͶȌȂͳȋƒȌȋʹȌȋ‹Ȍȋƒ•ƒ‡†‡†‹ͳͻͻͲȌǤ
͵ʹǤ Id. ȚͳǤͷͲͳȋ…ȌȋͶȌȂͳȋƒȌȋʹȌȋ‹‹ȌǤ
͵͵Ǥ See ‹”„›ǡsupra‘–‡ʹ͸ǡƒ–ʹʹͺǤ
͵ͶǤ See‘Ž‹˜ƒ—šǡsupra‘–‡ͳͶǡƒ–ʹ͵Ǥ
͵ͷǤ See id.
͵͸Ǥ Š‡”‡ ƒ”‡ †‹ˆˆ‡”‡…‡• ‹ –Š‡ ‡š‡’–‹‘• ˆ‘” ͷͲͳȋ…ȌȋͶȌ ‘”‰• ƒ† ͷʹ͹ ‘”‰•ǡ „—– –Š‡ ‡›
’‘‹–ˆ‘”‘—”’—”’‘•‡•‹•–Šƒ––Š‡›ƒ”‡„‘–ŠŽƒ”‰‡Ž›–ƒšǦ‡š‡’–Ǥ
͵͹Ǥ ǤǤǤȚͷʹ͹ȋŒȌȋʹͲͳͶȌǤ
͵ͺǤ See ”‡†”‡ƒ …Š‘—–‡ Ƭ ”‡‰‘”› ‘”–‡ǡ IRS Apologizes for Targeting Conservative
Groupsǡȋƒ›ͳʹǡʹͲͳ͵Ȍǡ
Š––’ǣȀȀ™™™Ǥ—•ƒ–‘†ƒ›Ǥ…‘Ȁ•–‘”›Ȁ‡™•Ȁ’‘Ž‹–‹…•ȀʹͲͳ͵ȀͲͷȀͳͲȀ‹”•Ǧƒ’‘Ž‘‰›Ǧ…‘•‡”˜ƒ–‹˜‡Ǧ‰”‘—’•Ǧ
ʹͲͳʹǦ‡Ž‡…–‹‘ȀʹͳͶͻͻ͵ͻȀǤ
38015-ckt_91-3 Sheet No. 37 Side B
•‹…‡ •‡…–‹‘ ͷͲͳȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘• ƒ”‡ ‘– …Šƒ”‹–‹‡•ǡ –Š‡› ƒ”‡ ‘–
‡Ž‹‰‹„Ž‡ –‘ ”‡…‡‹˜‡ –ƒšǦ†‡†—…–‹„Ž‡ …‘–”‹„—–‹‘•Ǥʹͻ ‘‘”• –‘ ƒ ȋ…ȌȋͶȌ
‘”‰ƒ‹œƒ–‹‘—•–—•‡ƒˆ–‡”Ǧ–ƒš†‘ŽŽƒ”•–‘ƒ‡‰‹ˆ–•Ǥ ͵Ͳ
…Šƒ‰‡† •‹…‡ ͳͻͷͻǡ –Š‡ ”‡‰—Žƒ–‹‘• —†‡” •‡…–‹‘ ͷͲͳȋ…ȌȋͶȌ
’”‘˜‹†‡–Šƒ–ƒ‘”‰ƒ‹œƒ–‹‘‹•‡Ž‹‰‹„Ž‡ˆ‘”‡š‡’–‹‘‘Ž›Dz‹ˆ‹–‹•’”‹Ǧ
ƒ”‹Ž›‡‰ƒ‰‡†‹’”‘‘–‹‰‹•‘‡™ƒ›–Š‡…‘‘‰‘‘†ƒ†‰‡Ǧ
‡”ƒŽ ™‡Žˆƒ”‡ ‘ˆ –Š‡ ’‡‘’Ž‡ ‘ˆ –Š‡ …‘—‹–›Ǥdz ͵ͳ Š‹Ž‡ ‘– †‡ˆ‹‹‰
’”‡…‹•‡Ž› ™Šƒ– …‘•–‹–—–‡• –Š‡ ’”‘‘–‹‘ ‘ˆ ™‡Žˆƒ”‡ǡ –Š‡ ”‡‰—Žƒ–‹‘•
‡š’Ž‹…‹–Ž›…ƒ”˜‡‘—–’‘Ž‹–‹…ƒŽ…ƒ’ƒ‹‰ƒ…–‹˜‹–›ǤŠ‡›’”‘˜‹†‡–Šƒ–Dz–Š‡
’”‘‘–‹‘‘ˆ•‘…‹ƒŽ™‡Žˆƒ”‡†‘‡•‘–‹…Ž—†‡†‹”‡…–‘”‹†‹”‡…–’ƒ”–‹…‹Ǧ
’ƒ–‹‘‘”‹–‡”˜‡–‹‘‹’‘Ž‹–‹…ƒŽ…ƒ’ƒ‹‰•‘”‹–‡”˜‡–‹‘‹’‘Ž‹–‹Ǧ
…ƒŽ…ƒ’ƒ‹‰•‘„‡ŠƒŽˆ‘ˆ‘”‹‘’’‘•‹–‹‘–‘ƒ›…ƒ†‹†ƒ–‡ˆ‘”’—„Ž‹…
‘ˆˆ‹…‡Ǥdz ͵ʹ Š‡ ’”‡…‹•‡ …‘–‘—”• ‘ˆ ™Šƒ– …‘•–‹–—–‡• ’ƒ”–‹…‹’ƒ–‹‘ ‹ ƒ
’‘Ž‹–‹…ƒŽ…ƒ’ƒ‹‰Šƒ˜‡‡˜‡”„‡‡†”ƒ™Ǥ͵͵
‡ˆ‘”‡Citizens Unitedǡ–Š‡”‡™ƒ•‘–—…Š’”‡••—”‡‘–Š‡ȋ…ȌȋͶȌ
†‡ˆ‹‹–‹‘ „‡…ƒ—•‡ ‡Ž‡…–‹‘ Žƒ™ Ž‹‹–ƒ–‹‘• ƒ†‡ ȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘•
ƒ‹‡ˆˆ‡…–‹˜‡–‘‘Žˆ‘”’‘Ž‹–‹…‹‰Ǥ ͵ͶŽ‡…–‹‘‡‡”‹‰ƒ…–‹˜‹–‹‡•™‡”‡‰‡Ǧ
‡”ƒŽŽ› ’Žƒ…‡† ‹ ƒ‘–Š‡” –›’‡ ‘ˆ ‡š‡’– ‘”‰ƒ‹œƒ–‹‘Ȅ•‡…–‹‘ ͷʹ͹
’‘Ž‹–‹…ƒŽ ‘”‰ƒ‹œƒ–‹‘•Ǥ ͵ͷ ”‘ ƒ –ƒš ’‡”•’‡…–‹˜‡ǡ –Š‡”‡ ‹• Ž‹––Ž‡ †‹ˆˆ‡”Ǧ
‡…‡„‡–™‡‡ƒ‘”‰ƒ‹œƒ–‹‘…‘˜‡”‡†„›•‡…–‹‘ͷʹ͹ƒ†‘‡…‘˜‡”‡†
„›•‡…–‹‘ͷͲͳȋ…ȌȋͶȌȄ–Š‡›ƒ”‡„‘–Š–ƒšǦ‡š‡’–Ǥ ͵͸—––Š‡”‡‹•ƒ‹Ǧ
’‘”–ƒ–’”ƒ…–‹…ƒŽƒ†’‘Ž‹–‹…ƒŽ†‹ˆˆ‡”‡…‡„‡…ƒ—•‡–Š‡‹†‡–‹–›‘ˆ†‘‘”•
–‘ȋ…ȌȋͶȌ‘”‰ƒ‹œƒ–‹‘•”‡ƒ‹••‡…”‡–ǡ™Š‹Ž‡†‘‘”•–‘ͷʹ͹‘”‰ƒ‹œƒǦ
–‹‘•ƒ”‡’—„Ž‹…Ž›†‹•…Ž‘•‡†Ǥ ͵͹
Š‡‡ƒƒ”–›•…ƒ†ƒŽ‹ŽŽ—‹ƒ–‡†–Š‡’”‘„Ž‡–Šƒ–Šƒ†„‡‡Ž‘‰
‹‰‘”‡†‹–Š‡ͷͲͳȋ…ȌȋͶȌ”‡‰—Žƒ–‹‘•ǤŠ‡•–ƒ†ƒ”†™ƒ•–‘‘˜ƒ‰—‡ǡƒ†
Ž‘™ǦŽ‡˜‡Ž‡’Ž‘›‡‡•‹–Š‡Šƒ†–‘‡š‡”…‹•‡†‹•…”‡–‹‘‹ƒ‹‰–Š‡
”‡“—‹”‡† †‡–‡”‹ƒ–‹‘Ǥ͵ͺ –‹‰Š–‡” †‡ˆ‹‹–‹‘ ˆ‘” Dz•‘…‹ƒŽ ™‡Žˆƒ”‡dz
38015-ckt_91-3 Sheet No. 38 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻͲͳ
™‘—Ž†’”‘˜‹†‡‰”‡ƒ–‡”…‘•‹•–‡…›ƒ†’”‡˜‡–’ƒ”–‹•ƒ’”‡ˆ‡”‡…‡‹
ƒ’’Ž‹…ƒ–‹‘Ǥ‘ǡ‹‡…‡„‡”ʹͲͳ͵ǡ–Š‡”‡ƒ•—”›’”‘’‘•‡†”‡‰—Žƒ–‹‘•ǣ
Dz
—‹†ƒ…‡ˆ‘”ƒšǦš‡’–‘…‹ƒŽ‡Žˆƒ”‡”‰ƒ‹œƒ–‹‘•‘ƒ†‹†ƒ–‡Ǧ
‡Žƒ–‡† ‘Ž‹–‹…ƒŽ …–‹˜‹–‹‡•Ǥdz ͵ͻ Š‡ ”‡‰—Žƒ–‹‘• ƒ––‡’–‡† –‘ †”ƒ™
„”‹‰Š–Ž‹‡•ǡ”‡’Žƒ…‹‰–Š‡ˆƒ…–•ƒ†…‹”…—•–ƒ…‡•ƒ’’”‘ƒ…Š‹’Žƒ…‡Ǥ ͶͲ
‘’ƒ”‡† –‘ ’”‹‘” ’”ƒ…–‹…‡ǡ –Š‡› ƒ”‰—ƒ„Ž› ‡Žƒ”‰‡† –Š‡ …ƒ–‡‰‘”› ‘ˆ
…ƒ†‹†ƒ–‡Ǧ”‡Žƒ–‡† ’‘Ž‹–‹…ƒŽ ƒ…–‹˜‹–‹‡•Ǥ Ͷͳ ˆ –Š‡› Šƒ† „‡‡ ‹’Ž‡‡–‡†ǡ
ͷͲͳȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘• ™‘—Ž† „‡ ƒŽŽ‘™‡† –‘ ‡‰ƒ‰‡ ‹ …ƒ†‹†ƒ–‡Ǧ
”‡Žƒ–‡†ƒ…–‹˜‹–‹‡•ǡ Ͷʹ„—–ȋŽ‹‡„‡ˆ‘”‡Ȍ–Š‘•‡ƒ…–‹˜‹–‹‡•™‘—Ž†‘–…‘•–‹Ǧ
–—–‡ ’”‘‘–‹‘ ‘ˆ •‘…‹ƒŽ™‡Žˆƒ”‡ǡ •‘ …‘—Ž† ‘– …‘•–‹–—–‡ ƒ ‘”‰ƒ‹œƒǦ
–‹‘ǯ•’”‹ƒ”›ƒ…–‹˜‹–›Ǥ Ͷ͵
‹‡ ƒŽŽ –ƒš ”‡‰—Žƒ–‹‘•ǡ –Š‡ ’”‘’‘•‡† ”‡‰—Žƒ–‹‘• ‹˜‹–‡† …‘Ǧ
‡–•Ǥ ͶͶŠ‡”‡…‡‹˜‡†‘˜‡”ͳ͸ͲǡͲͲͲ‘ˆ–Š‡Ȅ‘”‡–ŠƒŠƒ†‡˜‡”
„‡‡ ”‡…‡‹˜‡† ‘ ƒ ‘–‹…‡ ‘ˆ ’”‘’‘•‡† ”—Ž‡ƒ‹‰ ƒ„‘—– ƒ›–Š‹‰Ǩ Ͷͷ
‘‡–• ˆ”‘ ƒŽŽ ‘˜‡”–Š‡ ’‘Ž‹–‹…ƒŽ•’‡…–”— …”‹–‹…‹œ‡† –Š‡ ”—Ž‡•‘
‹”•– ‡†‡– ‰”‘—†• ˆ‘” ‡ˆˆ‡…–‹˜‡Ž› Ž‹‹–‹‰ –Š‡ ’‘Ž‹–‹…ƒŽ •’‡‡…Š
‹ ™Š‹…Š ȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘• …‘—Ž† ‡‰ƒ‰‡Ǥ Ͷ͸  ”‡•’‘•‡ –‘ –Š‡ „ƒ”Ǧ
”ƒ‰‡ǡ–Š‡”‡ƒ•—”›™‹–Š†”‡™–Š‡”‡‰—Žƒ–‹‘•Ǥ Ͷ͹Š‘—‰Š–Š‡‰‘˜‡”‡–
…Žƒ‹• –‘ „‡ ™‘”‹‰ ‘ ”‡˜‹•‹‰ –Š‡ǡ ‘„‘†› ‡š’‡…–• ‡™ ”‡‰—ŽƒǦ
–‹‘•ƒ›–‹‡•‘‘ȋ‘”’‘••‹„Ž›‡˜‡”Ȍǡƒ†–Š‡Šƒ•ƒ‘—…‡†–Šƒ–
‹–™‹ŽŽ‘–‹••—‡‡™‰—‹†ƒ…‡’”‹‘”–‘–Š‡ʹͲͳ͸’”‡•‹†‡–‹ƒŽ‡Ž‡…–‹‘Ǥ Ͷͺ
38015-ckt_91-3 Sheet No. 38 Side A
06/09/2016 10:30:17
͵ͻǤ —‹†ƒ…‡ ˆ‘” ƒšǦš‡’– ‘…‹ƒŽ ‡Žˆƒ”‡ ”‰ƒ‹œƒ–‹‘• ‘ ƒ†‹†ƒ–‡Ǧ‡Žƒ–‡† ‘Ž‹–‹…ƒŽ
…–‹˜‹–‹‡•ǡ͹ͺ‡†Ǥ‡‰Ǥ͹ͳǡͷ͵ͷȋ’”‘’‘•‡†‘˜ǤʹͻǡʹͲͳ͵Ȍȋ–‘„‡…‘†‹ˆ‹‡†ƒ–ʹ͸ǤǤǤ’–ǤͳȌǤ
ͶͲǤ Id.ƒ–͹ͳǡͷ͵͸Ǧ͵͹Ǥ
ͶͳǤ Id.ƒ–͹ͳǡͷ͵ͺȋDzŠ‡”‡ƒ•—”›‡’ƒ”–‡–ƒ†–Š‡”‡…‘‰‹œ‡–Šƒ––Š‡ƒ’’”‘ƒ…Š–ƒ‡
‹–Š‡•‡’”‘’‘•‡†”‡‰—Žƒ–‹‘•ǡ™Š‹Ž‡…Ž‡ƒ”‡”ǡƒ›„‡„‘–Š‘”‡”‡•–”‹…–‹˜‡ƒ†‘”‡’‡”‹••‹˜‡
–Šƒ–Š‡…—””‡–ƒ’’”‘ƒ…ŠǤǤǤǤdzȌǤ
ͶʹǤ SeeTreasury, IRS Will Issue Proposed Guidance for Tax-Exempt Social Welfare Organizationsǡ Ǥ ȋ‘˜Ǥ ʹ͸ǡ ʹͲͳ͵Ȍǡ Š––’•ǣȀȀ™™™Ǥ‹”•Ǥ‰‘˜Ȁ—ƒ…Ȁ‡™•”‘‘Ȁ”‡ƒ•—”›ǡǦ
Ǧ‹ŽŽǦ••—‡Ǧ”‘’‘•‡†Ǧ
—‹†ƒ…‡Ǧˆ‘”ǦƒšǦš‡’–Ǧ‘…‹ƒŽǦ‡Žˆƒ”‡Ǧ”‰ƒ‹œƒ–‹‘•Ǥ
Ͷ͵Ǥ ‘ŠǤ…‹‘‡–ƒŽǤǡIRS Moves to Restrict Nonprofits’ Politickingǡ ǤǤȋ‘˜Ǥʹ͸ǡ
ʹͲͳ͵ȌǡŠ––’ǣȀȀ™™™Ǥ™•ŒǤ…‘Ȁƒ”–‹…Ž‡•ȀͳͲͲͲͳͶʹͶͲͷʹ͹Ͳʹ͵ͲͶͶ͸ͷ͸ͲͶͷ͹ͻʹʹʹͳͳͲͷͻͺͳͳͳͲ͹͸Ǥ
ͶͶǤ ‹”„›ǡsupra‘–‡ʹ͸ǡƒ–ʹ͵ͷǤ
ͶͷǤ Id.
Ͷ͸Ǥ Liberals vs. the IRSǡǤǤȋ‡„ʹͷǡʹͲͳͶȌǡ
Š––’ǣȀȀ™™™Ǥ™•ŒǤ…‘Ȁƒ”–‹…Ž‡•ȀͳͲͲͲͳͶʹͶͲͷʹ͹Ͳʹ͵Ͳ͵͹ͲͶ͵ͲͶͷ͹ͻ͵ͺʹͻͺ͵ͻͶͷͳ͹ͶͻͻͶǢ
ƒ”Ž
—Ž•‡ǡLeft and Right Object to I.R.S. Plan to Restrict Nonprofits’ Political ActivityǡǤǤ ȋ‡„Ǥ
ͳʹǡ ʹͲͳͶȌǡ Š––’ǣȀȀ™™™Ǥ›–‹‡•Ǥ…‘ȀʹͲͳͶȀͲʹȀͳ͵Ȁ—•Ȁ’‘Ž‹–‹…•Ȁ„‘–ŠǦ•‹†‡•Ǧ‘„Œ‡…–Ǧ–‘Ǧ‹”•Ǧ’ŽƒǦ–‘Ǧ
”‡•–”‹…–Ǧ‘’”‘ˆ‹–•Ǧ’‘Ž‹–‹…ƒŽǦƒ…–‹˜‹–›ǤŠ–ŽǤ
Ͷ͹Ǥ IRS Update on the Proposed New Regulation on 501(c)(4) Organizationsǡ Ǥ ȋƒ› ʹʹǡ ʹͲͳͶȌǡ Š––’•ǣȀȀ™™™Ǥ‹”•Ǥ‰‘˜Ȁ—ƒ…Ȁ‡™•”‘‘ȀǦ’†ƒ–‡Ǧ‘Ǧ–Š‡Ǧ
”‘’‘•‡†Ǧ‡™Ǧ‡‰—Žƒ–‹‘Ǧ‘ǦͷͲͳȋ…ȌȋͶȌǦ”‰ƒ‹œƒ–‹‘•Ǥ
ͶͺǤ ”‹…‹…Š–„Žƒ—ǡI.R.S. Expected to Stand Aside as Nonprofits Increase Role in 2016 RaceǡǤǤ
ȋ—Ž› ͷǡ ʹͲͳͷȌǡ Š––’ǣȀȀ™™™Ǥ›–‹‡•Ǥ…‘ȀʹͲͳͷȀͲ͹ȀͲ͸Ȁ—•Ȁ’‘Ž‹–‹…•Ȁ‹”•Ǧ‡š’‡…–‡†Ǧ–‘Ǧ•–ƒ†Ǧ
ƒ•‹†‡Ǧƒ•Ǧ‘’”‘ˆ‹–•Ǧ‹…”‡ƒ•‡Ǧ”‘Ž‡Ǧ‹ǦʹͲͳ͸Ǧ”ƒ…‡ǤŠ–ŽǤ
38015-ckt_91-3 Sheet No. 38 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻͲʹ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
B. Federal Tax Law is Legally Weak
‘–Š–ƒš‡š‡’–‹‘•ƒ†–ƒšǦ†‡†—…–‹„‹Ž‹–›ƒ”‡ƒˆ‘”‘ˆ•—„•‹†›–Šƒ–
‹• ƒ†‹‹•–‡”‡† –Š”‘—‰Š –Š‡ –ƒš •›•–‡Ǥ –ƒš ‡š‡’–‹‘ Šƒ• —…Š
06/09/2016 10:30:17
ͶͻǤ See ‘‰‡” ‘Ž‹˜ƒ—šǡ Regulation of Political Organizations and the Red Herring of Tax
Exempt Statusǡͷͻǯ Ǥͷ͵ͳǡͷ͵ʹȋʹͲͲ͸ȌȋDzŠ‡‘–‹‘‘ˆƒ–ƒš•—„•‹†›™ƒ•‹’‘”–ƒ–ǤǤǤ‹
–Šƒ––Š‡’”‘˜‹•‹‘‘ˆƒ•—„•‹†›„›‘‰”‡••ǤǤǤŒ—•–‹ˆ‹‡†–Š‡‹’‘•‹–‹‘‘ˆƒ”‡•–”‹…–‹‘‘ƒˆ—†ƒǦ
‡–ƒŽ”‹‰Š–Ȅˆ”‡‡†‘‘ˆ•’‡‡…Š‹–Š‡ˆ‘”‘ˆŽ‘„„›‹‰ǤdzȌǤ
ͷͲǤ See ‡‰ƒ˜Ǥƒšƒ–‹‘™‹–Š‡’”‡•‡–ƒ–‹‘‘ˆƒ•ŠǤǡͶ͸ͳǤǤͷͶͲǡͷͶ͵ȂͶͶȋͳͻͺ͵ȌǤ
ͷͳǤ ǤǤǤ ȚͷͲͳȋ…Ȍȋ͵Ȍ ȋʹͲͳͶȌ ȋDz‘ •—„•–ƒ–‹ƒŽ ’ƒ”– ‘ˆ –Š‡ ƒ…–‹˜‹–‹‡• ‘ˆ ™Š‹…Š‹•…ƒ””›‹‰ ‘
’”‘’ƒ‰ƒ†ƒǡ‘”‘–Š‡”™‹•‡ƒ––‡’–‹‰ǡ–‘‹ˆŽ—‡…‡Ž‡‰‹•Žƒ–‹‘ǤǤǤƒ†™Š‹…Š†‘‡•‘–’ƒ”–‹…‹’ƒ–‡
‹ǡ‘”‹–‡”˜‡‡‹ȋ‹…Ž—†‹‰–Š‡’—„Ž‹•Š‹‰‘”†‹•–”‹„—–‹‰‘ˆ•–ƒ–‡‡–•Ȍǡƒ›’‘Ž‹–‹…ƒŽ…ƒ’ƒ‹‰
‘„‡ŠƒŽˆ‘ˆȋ‘”‹‘’’‘•‹–‹‘–‘Ȍƒ›…ƒ†‹†ƒ–‡ˆ‘”’—„Ž‹…‘ˆˆ‹…‡ǤdzȌǤ
ͷʹǤ ReganǡͶ͸ͳǤǤƒ–ͷͷͲǤ
ͷ͵Ǥ Id.ƒ–ͷͶ͵ȂͶͶǤ
38015-ckt_91-3 Sheet No. 38 Side B
˜‡ ‹ˆ –Š‡ ƒƒ‰‡• –‘ ”‡‹••—‡ ”‡‰—Žƒ–‹‘•ǡ –Š‡ ”‡‰—Žƒ–‘”›
”‘—–‡ ‹• ’”‘„Ž‡ƒ–‹… „‡…ƒ—•‡ Šƒ‰‹‰ ”‡•–”‹…–‹‘• ‘ –Š‡ ’”‹˜‹Ž‡‰‡ ‘ˆ
‡š‡’–‹‘‹•ƒ†—„‹‘—••–”ƒ–‡‰›Ǥ•ƒƒ––‡”‘ˆŽ‡‰ƒŽ’‘™‡”ǡ–Š‡•–ƒ–‡•
ƒ›„‡ƒˆ‹”•–Ǧ„‡•–•‘Ž—–‹‘–‘–Š‡†ƒ”‘‡›’”‘„Ž‡‹ˆˆ‡†‡”ƒŽ”‡‰—Ǧ
Žƒ–‹‘†‡’‡†•‘…‘†‹–‹‘‹‰ƒ–ƒšǦ„ƒ•‡†•—„•‹†›–‘”‡‰—Žƒ–‡†‘”‰ƒǦ
‹œƒ–‹‘•Ǥ Ͷͻ ‡†‡”ƒŽ ’‘™‡” ‹• ‰‡‡”ƒŽŽ› ‘”‡ …‹”…—•…”‹„‡† –Šƒ •–ƒ–‡
’‘™‡”ǡ ƒ† ‹ˆ –Š‡ ’‘™‡” –‘ ”‡‰—Žƒ–‡ –Š‡ ’‘Ž‹–‹…ƒŽ ƒ…–‹˜‹–› ‘ˆ ȋ…ȌȋͶȌ ‘”Ǧ
‰ƒ‹œƒ–‹‘•†‡”‹˜‡•ˆ”‘–Š‡–ƒš•—„•‹†›‹–Š‡‹”‡š‡’–‹‘ǡ–Š‡’‘™‡”
‹•–‡—‘—•ǤŠ‡‹•’”‹ƒ”‹Ž›”‡•’‘•‹„Ž‡ˆ‘””‡‰—Žƒ–‹‰–Š‡„‘”†‡”•
‘ˆ–ƒš‡š‡’–‹‘ǡ„—––Š‡•–ƒ–‡•…ƒ”‡‰—Žƒ–‡‘”‡‡š’ƒ•‹˜‡Ž›„‡…ƒ—•‡
–Š‡›†‘‘–‡‡†–‘•‡‹œ‡‘–Š‡–Š”‡ƒ†‘ˆ•—„•‹†›–‘Œ—•–‹ˆ›–Š‡‹””‡‰—Ǧ
Žƒ–‹‘Ǥ Š‡ •–ƒ–‡• Šƒ˜‡ „”‘ƒ† ƒ—–Š‘”‹–› –‘ ”‡‰—Žƒ–‡ –‘ ’”‘–‡…– …‹–‹œ‡•
ƒ† ’”‡˜‡– ˆ”ƒ—†Ǣ –Š‡›Šƒ˜‡ ’Ž‡ƒ”› ’‘™‡” –‘ Ž‡‰‹•Žƒ–‡‹ –Š‡ ’—„Ž‹…
‹–‡”‡•–Ǥ
Ž‹‡–Š‡”‡‰—Žƒ–‹‘‘ˆ…Šƒ”‹–‹‡•ǡ–Š‡”‡‹•‘Œ—•–‹ˆ‹…ƒ–‹‘ˆ‘”’‘Ž‹–Ǧ
‹…ƒŽ ”‡•–”‹…–‹‘• ‘ ȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘• …‘‡…–‡† –‘ ƒ †‡†—…–‹‘ ˆ‘”
…‘–”‹„—–‹‘•ȋ•‹…‡–Š‡”‡‹•‘†‡†—…–‹‘ȌǤ ͷͲŠ‡ˆ‡†‡”ƒŽ‰‘˜‡”‡–
Šƒ• †‘‡ ƒ ”‡ƒ•‘ƒ„Ž› ‡ˆˆ‡…–‹˜‡ Œ‘„ Ž‹‹–‹‰ –Š‡ ’‘Ž‹–‹…ƒŽ ‹ˆŽ—‡…‡ ‘ˆ
…Šƒ”‹–ƒ„Ž‡‘”‰ƒ‹œƒ–‹‘•„›Ž‹‹‰Ž‹‹–ƒ–‹‘•–‘‡Ž‹‰‹„‹Ž‹–›—†‡”•‡…Ǧ
–‹‘ͷͲͳȋ…Ȍȋ͵ȌǤ—ƒŽ‹ˆ‹…ƒ–‹‘ˆ‘”‡š‡’–‹‘ƒ•ƒ…Šƒ”‹–ƒ„Ž‡‘”‰ƒ‹œƒ–‹‘
—†‡” •‡…–‹‘ ͷͲͳȋ…Ȍȋ͵Ȍ †‡’‡†• ‘ ƒ ‘”‰ƒ‹œƒ–‹‘ …‘’Ž‡–‡Ž› ƒ„Ǧ
•–ƒ‹‹‰ˆ”‘’‘Ž‹–‹…ƒŽ…ƒ’ƒ‹‰•ǡƒ†Ž‘„„›‹‰‘Ž›‹ˆ‹–†‘‡•‘–…‘Ǧ
•–‹–—–‡ ƒ •—„•–ƒ–‹ƒŽ ’ƒ”– ‘ˆ –Š‡ …Šƒ”‹–›ǯ• ƒ…–‹˜‹–‹‡•Ǥ ͷͳ Š‡ —’”‡‡
‘—”– Šƒ• —’Š‡Ž† –Š‡•‡ ”‡•–”‹…–‹‘• ‹ •‡…–‹‘ ͷͲͳȋ…Ȍȋ͵Ȍ †‡•’‹–‡ –Š‡‹”
„—”†‡‘’‘Ž‹–‹…ƒŽ•’‡‡…ŠǤ ͷʹ–ƒ†‘’–‡†–Š‡–Š‡‘”›–Šƒ––Š‡…Šƒ”‹–ƒ„Ž‡
†‡†—…–‹‘‹•ƒ•—„•‹†›–Šƒ–…ƒ„‡…‘†‹–‹‘‡†ƒ•Ž‘‰ƒ•–Š‡”‡ƒ”‡‘’Ǧ
’‘”–—‹–‹‡•ˆ‘”—•—„•‹†‹œ‡†•’‡‡…Š„›–Š‡•ƒ‡•’‡ƒ‡”•Ǥ ͷ͵‹–•‘•–
‡š’ƒ•‹˜‡‡„”ƒ…‡‘ˆ–ƒš‡š’‡†‹–—”‡ƒƒŽ›•‹•ǡ–Š‡‘—”–•–ƒ–‡†ǣ
38015-ckt_91-3 Sheet No. 39 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
STATE LAW SOLUTIONS
ͻͲ͵
–Š‡•ƒ‡‡ˆˆ‡…–ƒ•ƒ…ƒ•Š‰”ƒ––‘–Š‡‘”‰ƒ‹œƒ–‹‘‘ˆ–Š‡ƒ‘—–‘ˆ
–ƒš‹–™‘—Ž†Šƒ˜‡–‘’ƒ›‘‹–•‹…‘‡Ǥ‡†—…–‹„Ž‡…‘–”‹„—–‹‘•ƒ”‡
•‹‹Žƒ”–‘…ƒ•Š‰”ƒ–•‘ˆ–Š‡ƒ‘—–‘ˆƒ’‘”–‹‘‘ˆ–Š‡ ‹†‹˜‹†—ƒŽǯ•
…‘–”‹„—–‹‘•ǤǤǤǤ•Š‘”–ǡ‘‰”‡••…Š‘•‡‘––‘•—„•‹†‹œ‡Ž‘„„›‹‰
ƒ•‡š–‡•‹˜‡Ž›ƒ•‹–…Š‘•‡–‘•—„•‹†‹œ‡‘–Š‡”ƒ…–‹˜‹–‹‡•–Šƒ–‘Ǧ’”‘ˆ‹–
‘”‰ƒ‹œƒ–‹‘•—†‡”–ƒ‡–‘’”‘‘–‡–Š‡’—„Ž‹…™‡Žˆƒ”‡Ǥ ͷͶ
Ž–Š‘—‰Š—•–‹…‡‡Š“—‹•–†‡•…”‹„‡†„‘–Š‡š‡’–‹‘ƒ††‡†—…Ǧ
–‹‘ƒ••—„•‹†‹‡•ǡ‡š‡’–‹‘‹•‘Ž›ƒ•—„•‹†›ˆ‘”ƒ•—„•‡–‘ˆ‘”‰ƒ‹œƒǦ
–‹‘•Ǥ Š‹Ž‡ –Š‡ †‡†—…–‹‘ ˆ‘” …‘–”‹„—–‹‘• ‹• ƒŽ™ƒ›• ˜ƒŽ—ƒ„Ž‡ǡ
‘”‰ƒ‹œƒ–‹‘• ™‹–Š ‘ ‡†‘™‡–ǡ ‘ —”‡Žƒ–‡† ƒ…–‹˜‹–‹‡• ƒ† ‘ ‹Ǧ
˜‡•–‡– ‹…‘‡ ‡Œ‘› Ž‹––Ž‡ ‘” ‘ •—„•‹†› ‘ ƒ……‘—– ‘ˆ –Š‡‹” ‘™
‡š‡’–‹‘Ǥ ͷͷ Ž› ‘”‰ƒ‹œƒ–‹‘• ‡–‹–Ž‡† –‘ ”‡…‡‹˜‡ †‡†—…–‹„Ž‡ …‘–”‹Ǧ
„—–‹‘•…Ž‡ƒ”Ž›”‡…‡‹˜‡ƒ•—„•‹†›…‘’‡ŽŽ‹‰‡‘—‰Š–‘Œ—•–‹ˆ›”‡•–”‹…–Ǧ
‹‰•’‡‡…ŠǤ
‘…Šƒ”‹–ƒ„Ž‡ ‡š‡’– ‘”‰ƒ‹œƒ–‹‘• ‡Œ‘› ˜‡”› ‹‹ƒŽ ‘” ‘
•—„•‹†› ˆ”‘ –Š‡ ‡š‡’–‹‘ǡ ͷ͸ •‘ Šƒ‰‹‰ ‹”•– ‡†‡– ”‡Ǧ
•–”‹…–‹‘• ‘ –Šƒ– •—„•‹†› •‡‡• ƒ „—”†‡ ‡”‡ ‡š‡’–‹‘ …ƒ‘–
•—’’‘”–ǤŠ‡Ž‡‰ƒŽ”‡‰‹‡–Šƒ–‰‘˜‡”•‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘••Š‘—Ž†
‘– „‡ •‘ ’”‡…ƒ”‹‘—• –Šƒ– ƒ …‘—”–ǯ• ”‡Œ‡…–‹‘ ‘ˆ –Š‡ •—„•‹†› ƒ’’”‘ƒ…Š
Ž‡ƒ˜‡• –Š‡ ˆ‹‡Ž† ‡–‹”‡Ž› —”‡‰—Žƒ–‡†Ǥ ͷ͹ ‘” –Š‡•‡ ”‡ƒ•‘•ǡ •–ƒ–‡ ‘Ǧ
’”‘ˆ‹–”‡‰—Žƒ–‹‘ƒ’’‡ƒ”•–‘„‡‘ˆ‹”‡”Ž‡‰ƒŽˆ‘‘–‹‰–Šƒˆ‡†‡”ƒŽ–ƒš
”‡‰—Žƒ–‹‘Ǥ Š‡ •–ƒ–‡• ƒ”‡ ™‡ŽŽ ™‹–Š‹ –Š‡‹” –”ƒ†‹–‹‘ƒŽ ƒ—–Š‘”‹–› –‘
”‡‰—Žƒ–‡ ˆ‘” –Š‡ ’”‘–‡…–‹‘ ‘ˆ ˜‘–‡”•ǡ †‘‘”• ƒ† …Šƒ”‹–‹‡•Ǥ ƒ –Š‡
•–ƒ–‡••ƒ˜‡–Š‡†ƒ›ǫ
06/09/2016 10:30:17
ͷͶǤ Id.ƒ–ͷͶͶǤ
ͷͷǤ Seeƒ‹‡ŽƒŽ’‡”‹ǡŠ‡ƒšš‡’–‹‘†‡”‡…–‹‘ͷͲͳȋ…ȌȋͶȌͳǦʹȋ”„ƒ•–Ǥǡƒš
‘Ž‹…›ƒ†Šƒ”‹–‹‡•”‘Œ‡…–‘”‹‰ƒ’‡”ǡʹͲͳͶȌǡ
Š––’ǣȀȀ™™™Ǥ—”„ƒǤ‘”‰Ȁ•‹–‡•Ȁ†‡ˆƒ—Ž–Ȁˆ‹Ž‡•ȀƒŽˆ”‡•…‘Ȁ’—„Ž‹…ƒ–‹‘Ǧ’†ˆ•ȀͶͳ͵ͳͷʹǦŠ‡ǦƒšǦ
š‡’–‹‘Ǧ†‡”Ǧ‡…–‹‘Ȅ…ǦǤǤȌȋDz‘”…Šƒ”‹–‹‡•†‡–‡”‹‡†–Šƒ–ƒ•‹‰‹ˆ‹…ƒ–•—„•‹†›‡š‹•–•
‘Ž› ™‹–Š ”‡•’‡…– –‘ –Š‡‡š‡’–‹‘ ˆ‘”‹…‘‡ ˆ”‘—”‡Žƒ–‡† ‹˜‡•–‡–•ƒ† ™‹–Š”‡•’‡…––‘
–Š‡ –”‡ƒ–‡– ‘ˆ ‹…‘‡ ˆ”‘ ”‡Žƒ–‡† ƒ…–‹˜‹–‹‡• —•‡† ˆ‘” …ƒ’‹–ƒŽ ‡š’‡†‹–—”‡•ǡ •—…Š ƒ• „—‹Ž†Ǧ
‹‰•ǤǤǤǤdzȌǢƒ‹‡ŽƒŽ’‡”‹ǡIs Income Tax Exemption for Charities a Subsidy?ǡ͸Ͷ Ǥ Ǥʹͺ͵ǡ
ʹͺͶȂͺͷȋʹͲͳͳȌȋDz…‘‡–ƒš‡š‡’–‹‘ǡ‹‘•–…‹”…—•–ƒ…‡•ǡ™‹ŽŽƒˆˆ‡…–‘Ž›–Š‡”‡Žƒ–‹˜‡…‘•–‘ˆ
•‡––‹‰ƒ•‹†‡ˆ—†•ˆ‘”–Š‡ˆ—–—”‡ƒ•…‘’ƒ”‡†–‘’”‘˜‹†‹‰…—””‡–„‡‡ˆ‹–•Ǥ–™‹ŽŽ‘–•‡”‹‘—•Ž›
…‘…‡”–Š‘•‡‘”‰ƒ‹œƒ–‹‘•–Šƒ–•’‡†‡ƒ”Ž›ƒŽŽ–Š‡‹”ˆ—†•‘…—””‡–ƒ…–‹˜‹–‹‡•ǤdzȌǤ
ͷ͸Ǥ See ‘Ž‹˜ƒ—šǡsupra‘–‡ͳͶǡƒ–͵͸Ǥ
ͷ͹Ǥ See ƒ”…—• Ǥ ™‡•ǡ Charity Oversight: An Alternative Approachǡ Ǥ Ǥ Ǥ
ȋʹͲͳ͵ȌǡŠ––’ǣȀȀ†šǤ†‘‹Ǥ‘”‰ȀͳͲǤ͹ͻͳ͸ȀͺͳͷͶͳȋ†‡–ƒ‹Ž‹‰‘–Š‡”Ž‹‹–ƒ–‹‘•‘ˆ„ƒ•‡†
‘˜‡”•‹‰Š–‘ˆ–ƒšǦ‡š‡’–‘”‰ƒ‹œƒ–‹‘•ƒ†•—‰‰‡•–‹‰ƒ•‡ŽˆǦ”‡‰—Žƒ–‘”›ƒ’’”‘ƒ…Š‹•–‡ƒ†ȌǤ
38015-ckt_91-3 Sheet No. 39 Side A
38015-ckt_91-3 Sheet No. 39 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻͲͶ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
CHICAGO-KENT LAW REVIEW
ȏ‘Žͻͳǣ͵
Ǥǫǣ
A. California
 ʹͲͳͶǡ ƒŽ‹ˆ‘”‹ƒ ƒ†‘’–‡† –Š‡ ‘•– ‡š’ƒ•‹˜‡ †‹•…Ž‘•—”‡ ”‡Ǧ
“—‹”‡‡–•ˆ‘”‘’”‘ˆ‹–•‡‰ƒ‰‡†‹’‘Ž‹–‹…‹‰Ǥ ͷͺŠ‘•‡”—Ž‡•”‡“—‹”‡
Dz—Ž–‹’—”’‘•‡‘”‰ƒ‹œƒ–‹‘•dzȄƒ…ƒ–‡‰‘”›–Šƒ–‹…Ž—†‡•ȋ…ȌȋͶȌ‘”‰ƒ‹Ǧ
œƒ–‹‘•Ȅ–‘ †‹•…Ž‘•‡ –Š‡ ‘”‰ƒ‹œƒ–‹‘ǯ• †‘‘”• ‹ ƒ ƒ†ƒ–‘”› •–ƒ–‡
ˆ‹Ž‹‰Ǥ ͷͻ Š‡ •–ƒ–‡ ‡š’Žƒ‹‡† –Šƒ– Dz–Š‡ †‹•…Ž‘•—”‡ ‘ˆ †‘‘”• ’”‘˜‹†‡•
˜‘–‡”• ™‹–Š ˜‹–ƒŽ ‹ˆ‘”ƒ–‹‘ ‘ ™Š‘ ‹• ˆ—†‹‰ …ƒ’ƒ‹‰•ǡ ‹…”‡ƒ•‡•
–”ƒ•’ƒ”‡…› –‘ †‡–‡” ƒ…–—ƒŽ ‘” ’‡”…‡‹˜‡† …‘””—’–‹‘ǡ ƒ† ‹• ƒ ‹Ǧ
’‘”–ƒ– ‡ƒ• ‘ˆ ‰ƒ–Š‡”‹‰ ‹ˆ‘”ƒ–‹‘ –‘ †‡–‡…– ’‘••‹„Ž‡ ˜‹‘ŽƒǦ
–‹‘•Ǥdz ͸ͲƒŽ‹ˆ‘”‹ƒǯ•Ž‡‰‹•Žƒ–‹‘™ƒ•‡ƒ…–‡†‹”‡•’‘•‡–‘ƒ‹…‹†‡–
‹˜‘Ž˜‹‰‘—–Ǧ‘ˆǦ•–ƒ–‡‘‡›‹–‡†‡†–‘‹ˆŽ—‡…‡–™‘ƒŽ‹ˆ‘”‹ƒ„ƒŽǦ
Ž‘– ‹‹–‹ƒ–‹˜‡•Ǥ͸ͳ Š‡ ‘—–Ǧ‘ˆǦ•–ƒ–‡ ‰”‘—’ǡ ‡”‹…ƒ• ˆ‘” ‡•’‘•‹„Ž‡
‡ƒ†‡”•Š‹’ȋȌǡŠƒ†”‡…‡‹˜‡†̈́ͳͺ‹ŽŽ‹‘ˆ”‘–Š‡‡–‡”–‘”‘–‡…–
ƒ–‹‡– ‹‰Š–•ǡ ƒ‘–Š‡” ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘ǡ ƒ† …‘–”‹„—–‡† ̈́ͳͳ
‹ŽŽ‹‘–‘ƒƒŽ‹ˆ‘”‹ƒˆ‘”–Š‡’—”’‘•‡‘ˆ‹ˆŽ—‡…‹‰–Š‡‘—–…‘‡
‘ˆ –Š‡ ”‡ˆ‡”‡†ƒǤ ͸ʹ ƒŽ‹ˆ‘”‹ƒǯ• …ƒ’ƒ‹‰ ˆ‹ƒ…‡ ”‡‰—Žƒ–‘”ǡ –Š‡ ƒ‹”
‘Ž‹–‹…ƒŽ”ƒ…–‹…‡•‘‹••‹‘ǡ‡˜‡–—ƒŽŽ›‹’‘•‡†ƒ̈́ͳ‹ŽŽ‹‘ˆ‹‡‘
ˆ‘” …ƒ’ƒ‹‰ ‘‡› Žƒ—†‡”‹‰ǡ ͸͵ „—– ƒŽ‹ˆ‘”‹ƒ Žƒ™ ‹ ’Žƒ…‡ ƒ–
–Š‡ –‹‡ †‹† ‘– ”‡“—‹”‡ –Šƒ– –Š‡ …Šƒ‹ ‘ˆ ‘”‰ƒ‹œƒ–‹‘• †‹•…Ž‘•‡ –Š‡
—Ž–‹ƒ–‡ˆ—†‡”•Ǥ
Š‡‡™”—Ž‡•ƒ’’Ž›–‘‡š’‡†‹–—”‡•…‘‡…–‡†–‘…ƒ†‹†ƒ–‡•ˆ‘”
‘ˆˆ‹…‡ƒ†–‘„ƒŽŽ‘–‡ƒ•—”‡•ǡ™Š‹…Šƒ”‡™‹†‡Ž›—•‡†‹ƒŽ‹ˆ‘”‹ƒǤǦ
†‡”–Š‡”‡˜‹•‡†Žƒ™ǡ†‘‘”•–‘‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•™Š‘…‘–”‹„—–‡
06/09/2016 10:30:17
ͷͺǤ ǤǤʹ͹ǡʹͲͳͶ‡‰Ǥǡ‡‰Ǥ‡••ǤȋƒŽǤʹͲͳͶȌǤ
ͷͻǤ Ǥ
ǯȚͺͶʹʹʹȋ‡•–ʹͲͳͶȌǢǤ
Ǥ–‹–ǤʹǡȚͳͺͶʹʹȋʹͲͳͶȌǤ
͸ͲǤ Ǥ ǯǡ ͳ
ȋʹͲͳͶȌǡ
Š––’ǣȀȀ™™™Ǥˆ’’…Ǥ…ƒǤ‰‘˜Ȁ…‘–‡–Ȁ†ƒȀˆ’’…ȀǦ
‘…—‡–•ȀȀƒ’ƒ‹‰ΨʹͲ‘…—‡–•Ȁ—Ž–‹’—”’‘•‡ΨʹͲ”‰ƒ‹œƒ–‹‘•Ǥ’†ˆǤ
͸ͳǤ ƒŽ‹ˆ‘”‹ƒ™ƒ•’”‘’–‡†Žƒ”‰‡Ž›„›ƒ”‹œ‘ƒ‰”‘—’ǯ•̈́ͳͳ‹ŽŽ‹‘†‘ƒ–‹‘‹ʹͲͳ͵–‘ƒ
ƒŽ‹ˆ‘”‹ƒ…ƒ’ƒ‹‰…‘‹––‡‡ǡ™Š‹…Š—•‡†–Š‡‘‡›–‘‘’’‘•‡ƒ–ƒšǦŠ‹‡‡ƒ•—”‡ƒ†•—’’‘”–
ƒ‘–Š‡”„ƒŽŽ‘–‹‹–‹ƒ–‹˜‡–Šƒ–™ƒ•‹–‡†‡†–‘…—”„—‹‘•ǯ’‘Ž‹–‹…ƒŽˆ—†”ƒ‹•‹‰Ǥƒ–ŠŽ‡‡
‡”„‡”ǡ
Proposed Legislation Would Require Nonprofit Organizations Participating in California Political
Campaigns to Disclose the Identity of Their Donorsǡ ȋƒǤ Ͷǡ ʹͲͳ͵Ȍǡ
Š––’ǣȀȀ™™™Ǥ‘†ƒ“Ǥ…‘Ȁ—‹–‡†•–ƒ–‡•ȀšȀʹͳͶͷͶʹȀŠƒ”‹–‹‡•Ϊ‘Ǧ
”‘ˆǦ
‹–•Ȁ”‘’‘•‡†Ϊ‡‰‹•Žƒ–‹‘Ϊ‘—Ž†Ϊ‡“—‹”‡Ϊ‘’”‘ˆ‹–Ϊ”‰ƒ‹œƒ–‹‘•Ϊƒ”–‹…‹’ƒ–‹‰ΪΪƒŽ‹ˆ‘”‹ƒ
Ϊ‘Ž‹–‹…ƒŽΪƒ’ƒ‹‰•Ϊ‘Ϊ‹•…Ž‘•‡ΪŠ‡Ϊ†‡–‹–›ΪˆΪŠ‡‹”Ϊ‘‘”•Ǥ
͸ʹǤ ƒ–”‹… ‘”†ǡ Chapter 16: Combating Dark Money in California Politicsǡ Ͷ͸ Ǥ
Ǥ͵͵ͷǡ͵͵ͻȂͶͲȋʹͲͳͶȌǤ
͸͵Ǥ Š”‹•‡‰‡”‹ƒƬ–Š‘›‘”ǡCalifornia Fines Groups $16 Million for Funneling Money
to Campaignsǡ ǤǤ ȋ…–Ǥ ʹͷǡ ʹͲͳ͵Ȍǡ Š––’ǣȀȀƒ”–‹…Ž‡•ǤŽƒ–‹‡•Ǥ…‘ȀʹͲͳ͵Ȁ‘…–ȀʹͷȀŽ‘…ƒŽȀŽƒǦ‡Ǧ
•‡…”‡–Ǧ‘‡›ǦʹͲͳ͵ͳͲʹͷǤ
38015-ckt_91-3 Sheet No. 39 Side B
38015-ckt_91-3 Sheet No. 40 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻͲͷ
ˆ‘”–Š‡’—”’‘•‡‘ˆ’‘Ž‹–‹…ƒŽ•’‡†‹‰—•–„‡‹†‡–‹ˆ‹‡†‹ˆ–Š‡›…‘–”‹„Ǧ
—–‡̈́ͳͲͲ‘”‘”‡–‘ƒ’‘Ž‹–‹…ƒŽ•‘Ž‹…‹–ƒ–‹‘„›ƒ‘”‰ƒ‹œƒ–‹‘Ǥ ͸Ͷ‘‘”•
™Š‘‰‹˜‡–‘‘”‰ƒ‹œƒ–‹‘•™‹–Š‘—–‡š’Ž‹…‹–Ž›•—’’‘”–‹‰’‘Ž‹–‹…ƒŽƒ…–‹˜‹Ǧ
–‹‡•ƒ”‡ƒŽ•‘’‘–‡–‹ƒŽŽ›•—„Œ‡…––‘‹†‡–‹ˆ‹…ƒ–‹‘„‡…ƒ—•‡•‘…‹ƒŽ™‡Žˆƒ”‡
‘”‰ƒ‹œƒ–‹‘• –Šƒ– •’‡† •‘‡ ‘ˆ –Š‡‹” ‘‡› ‘ ’‘Ž‹–‹…ƒŽ ‡š’‡†‹Ǧ
–—”‡•—•–‹†‡–‹ˆ›†‘‘”•‰‹˜‹‰ƒ–Ž‡ƒ•–̈́ͳͲͲͲǡ‡˜‡‹ˆ–Š‘•‡†‘‘”•
†‹† ‘– •’‡…‹ˆ‹…ƒŽŽ› †‘ƒ–‡ ˆ‘” –Š‡ ’—”’‘•‡ ‘ˆ ’‘Ž‹–‹…ƒŽ •’‡†‹‰Ǥ ƒŽ‹Ǧ
ˆ‘”‹ƒǯ• ‡™ ”—Ž‡• ”‡“—‹”‡ –Šƒ– ‡š‡’– ‘”‰ƒ‹œƒ–‹‘• ‹†‡–‹ˆ› –Š‡Ǧ
•‡Ž˜‡• ƒ• •—…Šǡ †‹•–‹‰—‹•Š‹‰ –Š‡‹” ˆ‹Ž‹‰• ˆ”‘ –Š‘•‡ ‘ˆ ’‘Ž‹–‹…ƒŽ
…‘‹––‡‡•ǡƒ†–Š‡”‡„›ƒŽŽ‘™‹‰–Š‡•–ƒ–‡–‘•‡’ƒ”ƒ–‡Ž›–”ƒ…–Š‡”‘Ž‡
‘ˆ‘’”‘ˆ‹–•‹’‘Ž‹–‹…ƒŽ…ƒ’ƒ‹‰ƒ…–‹˜‹–›Ǥ͸ͷ‡”Šƒ’•‘•–‹’‘”–ƒ–Ǧ
Ž›ǡƒŽ‹ˆ‘”‹ƒǯ•‡™Žƒ™ƒ––‡’–•–‘ˆ‘ŽŽ‘™–Š‡†ƒ‹•›…Šƒ‹‘ˆ…‘–”‹„—Ǧ
–‹‘• ˆ”‘ ‘‡ ‡š‡’– ‘”‰ƒ‹œƒ–‹‘ –‘ ƒ‘–Š‡”ǡ ƒ† ”‡“—‹”‡•
†‹•…Ž‘•—”‡ „› ‡ƒ…Š ‘”‰ƒ‹œƒ–‹‘ ‹ –Š‡ …Šƒ‹ǡ ˆ”—•–”ƒ–‹‰ †‘‘”•ǯ ƒ–Ǧ
–‡’–•–‘Š‹†‡–Š‡‹”‹†‡–‹–›„›–”ƒ•ˆ‡””‹‰ˆ—†•–Š”‘—‰Šƒ…‘˜‘Ž—–Ǧ
‡† ™‡„ ‘ˆ ‘’”‘ˆ‹–•Ǥ ‘ƒ–‹‘• ‘ˆ ̈́ͷͲǡͲͲͲ ˆ”‘ ‘‡ ‘”‰ƒ‹œƒ–‹‘ –‘
ƒ‘–Š‡” –”‹‰‰‡” ‘–‹ˆ‹…ƒ–‹‘ ”‡“—‹”‡‡–• –Šƒ–ƒ› Ž‡ƒ† –‘ †‘‘” †‹•Ǧ
…Ž‘•—”‡„›ƒ…‘–”‹„—–‹‰‘”‰ƒ‹œƒ–‹‘Ǥ ͸͸
‡…ƒ—•‡–Š‡‹’‡–—•ˆ‘”–Š‡ƒ‡†‡–•–‘ƒŽ‹ˆ‘”‹ƒǯ•Žƒ™™ƒ•ƒ
†ƒ‹•› …Šƒ‹ ‘ˆ †ƒ” ‘‡› –Š”‘—‰Š ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘•ǡ –Š‡ ‡™
”—Ž‡•ƒ”‡†‡•‹‰‡†–‘”‡“—‹”‡†‘‘”†‹•…Ž‘•—”‡‹–Šƒ–…‹”…—•–ƒ…‡ƒ•
ƒ’”‹ƒ”›’—”’‘•‡Ǥ ͸͹Š‡Žƒ™‡š’ƒ†‡†–Š‡•…‘’‡‘ˆ‡š‹•–‹‰…ƒ’ƒ‹‰
ˆ‹ƒ…‡ Žƒ™Ȅ™Š‹…Š ”‡“—‹”‡† †‘‘” †‹•…Ž‘•—”‡ ‹ •‘‡ …‹”…—•–ƒ…Ǧ
‡•Ȅ–‘ ‡š’Ž‹…‹–Ž› ‹…Ž—†‡ Dz—Ž–‹’—”’‘•‡ ‘”‰ƒ‹œƒ–‹‘•dz •—…Š ƒ•
ͷͲͳȋ…ȌȋͶȌ •‘…‹ƒŽ ™‡Žˆƒ”‡ ‘”‰ƒ‹œƒ–‹‘•Ǥ͸ͺ ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘• ƒ”‡
06/09/2016 10:30:17
͸ͶǤ Š‡ ƒŽ‹ˆ‘”‹ƒ •–ƒ–—–‡ƒ’’Ž‹‡• –‘™Šƒ–‹–…ƒŽŽ• Dz—Ž–‹’—”’‘•‡‘”‰ƒ‹œƒ–‹‘•ǡdz ƒ …ƒ–‡‰‘”›
–Šƒ–‹…Ž—†‡•‘”‡–ŠƒŒ—•–ͷͲͳȋ…ȌȋͶȌ‘”‰ƒ‹œƒ–‹‘•ǡ„—–ȋ…ȌȋͶȌ•ƒ‡—’ƒŽƒ”‰‡’‘”–‹‘‘ˆ–Š‡
‘•– ƒ…–‹˜‡ ’‘Ž‹–‹…ƒŽ ’Žƒ›‡”• ™‹–Š‹ –Šƒ– †‡ˆ‹‹–‹‘Ǥ See ǯ Ț ͺͶʹʹʹȋƒȌ ȋDz‘” ’—”’‘•‡• ‘ˆ –Š‹•
–‹–Ž‡ǡ Ǯ—Ž–‹’—”’‘•‡ ‘”‰ƒ‹œƒ–‹‘ǯ ‡ƒ• ƒ ‘”‰ƒ‹œƒ–‹‘ †‡•…”‹„‡† ‹ ‡…–‹‘• ͷͲͳȋ…Ȍȋ͵Ȍ –‘
ͷͲͳȋ…ȌȋͳͲȌǡ‹…Ž—•‹˜‡ǡ‘ˆ–Š‡–‡”ƒŽ‡˜‡—‡‘†‡ƒ†–Šƒ–‹•‡š‡’–ˆ”‘–ƒšƒ–‹‘—†‡”‡…Ǧ
–‹‘ͷͲͳȋƒȌ‘ˆ–Š‡–‡”ƒŽ‡˜‡—‡‘†‡ǡƒˆ‡†‡”ƒŽ‘”‘—–Ǧ‘ˆǦ•–ƒ–‡’‘Ž‹–‹…ƒŽ‘”‰ƒ‹œƒ–‹‘ǡƒ–”ƒ†‡
ƒ••‘…‹ƒ–‹‘ǡ ƒ ’”‘ˆ‡••‹‘ƒŽ ƒ••‘…‹ƒ–‹‘ǡ ƒ …‹˜‹… ‘”‰ƒ‹œƒ–‹‘ǡ ƒ ”‡Ž‹‰‹‘—• ‘”‰ƒ‹œƒ–‹‘ǡ ƒ ˆ”ƒ–‡”ƒŽ
•‘…‹‡–›ǡƒ‡†—…ƒ–‹‘ƒŽ‹•–‹–—–‹‘ǡ‘”ƒ›‘–Š‡”ƒ••‘…‹ƒ–‹‘‘”‰”‘—’‘ˆ’‡”•‘•ƒ…–‹‰‹…‘…‡”–ǡ
–Šƒ– ‹• ‘’‡”ƒ–‹‰ ˆ‘” ’—”’‘•‡• ‘–Š‡” –Šƒ ƒ‹‰ …‘–”‹„—–‹‘• ‘” ‡š’‡†‹–—”‡•Ǥ Ǯ—Ž–‹’—”’‘•‡
‘”‰ƒ‹œƒ–‹‘ǯ†‘‡•‘–‹…Ž—†‡ƒ„—•‹‡••‡–‹–›ǡƒ‹†‹˜‹†—ƒŽǡ‘”ƒˆ‡†‡”ƒŽ…ƒ†‹†ƒ–‡ǯ•ƒ—–Š‘”‹œ‡†
…‘‹––‡‡ǡƒ•†‡ˆ‹‡†‹‡…–‹‘Ͷ͵ͳ‘ˆ‹–Ž‡ʹ‘ˆ–Š‡‹–‡†–ƒ–‡•‘†‡ǡ–Šƒ–‹•”‡‰‹•–‡”‡†ƒ†
ˆ‹Ž‹‰”‡’‘”–•’—”•—ƒ––‘–Š‡‡†‡”ƒŽŽ‡…–‹‘ƒ’ƒ‹‰…–‘ˆͳͻ͹ͳǤdzȌǤ
͸ͷǤ SeeǤ ǯǡ ͶͳͲǣ ȋʹͲͳ͸Ȍǡ
Š––’ǣȀȀ™™™Ǥˆ’’…Ǥ…ƒǤ‰‘˜Ȁ…‘–‡–Ȁ†ƒȀˆ’’…ȀǦ‘…—‡–•ȀȀƒ’ƒ‹‰ΨʹͲ‘”•ȀͶͳͲǤ’†ˆǢ
see also ǯ ȚͺͶʹʹʹȋ‡ȌȋͳȌȋȌȋDzŠ‡•–ƒ–‡‡–‘ˆ‘”‰ƒ‹œƒ–‹‘ˆ‹Ž‡†’—”•—ƒ––‘‡…–‹‘ͺͶͳͲͳ
•ŠƒŽŽ‹†‹…ƒ–‡–Šƒ––Š‡‘”‰ƒ‹œƒ–‹‘‹•ˆ‹Ž‹‰’—”•—ƒ––‘–Š‹••‡…–‹‘ƒ•ƒ—Ž–‹’—”’‘•‡‘”‰ƒ‹œƒǦ
–‹‘ƒ†•–ƒ–‡–Š‡‘”‰ƒ‹œƒ–‹‘ǯ•‘’”‘ˆ‹––ƒš‡š‡’–•–ƒ–—•ǡ‹ˆƒ›ǤdzȌǤ
͸͸Ǥ ǯȚͺͶʹʹʹȋ…ȌȋͷȌǤ
͸͹Ǥ SeeǤǯǡsupra‘–‡͸ͲǤ
͸ͺǤ ǯȚͺͶʹʹʹȋƒȌǤ
38015-ckt_91-3 Sheet No. 40 Side A
38015-ckt_91-3 Sheet No. 40 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻͲ͸
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
06/09/2016 10:30:17
͸ͻǤ ǯȚͺͶʹʹʹǢǤ
Ǥ–‹–ǤʹǡȚͳͺͶʹʹȋʹͲͳͶȌǤ
͹ͲǤ ǯȚͺͶʹʹʹȋ…ȌȋͷȌǤ
͹ͳǤ Id.ȚͺͶʹʹʹȋ‡ȌȋʹȌǡȋ‰ȌǤ
͹ʹǤ Id.ȚͺͶʹʹʹȋ‡ȌȋʹȌǤ
͹͵Ǥ ”‹ƒ‘•‡’ŠǡO.C. Senator Introduces Bill to Illuminate ‘Dark Money’ǡ
Ǥ
ȋ‡…Ǥ Ͷǡ ʹͲͳʹȌǡ Š––’ǣȀȀ™™™Ǥ‘…”‡‰‹•–‡”Ǥ…‘Ȁ–ƒš†‘ŽŽƒ”•Ȁ•–”‘‰ǦͶ͹ͺͻ͹͹ǦŠ––’ǦŠ”‡ˆǤŠ–Ž ȋ•–ƒ–‡‡–
„›”ƒ‰‡‘—–›•–ƒ–‡‡ƒ–‘”‘—‘””‡ƒȌǤ
͹ͶǤ ǯ Ț ͺͶʹʹ͵ȋƒȌ ȋDz …‘‹––‡‡ ’”‹ƒ”‹Ž› ˆ‘”‡† –‘ •—’’‘”– ‘” ‘’’‘•‡ ƒ •–ƒ–‡ „ƒŽŽ‘–
‡ƒ•—”‡‘”•–ƒ–‡…ƒ†‹†ƒ–‡–Šƒ– ”ƒ‹•‡• ‘‡ ‹ŽŽ‹‘ †‘ŽŽƒ”•ȋ̈́ͳǡͲͲͲǡͲͲͲȌ ‘” ‘”‡ ˆ‘”ƒ ‡Ž‡…–‹‘
•ŠƒŽŽƒ‹–ƒ‹ƒƒ……—”ƒ–‡Ž‹•–‘ˆ–Š‡…‘‹––‡‡ǯ•–‘’ͳͲ…‘–”‹„—–‘”•ǡƒ••’‡…‹ˆ‹‡†„›‘‹••‹‘
”‡‰—Žƒ–‹‘•Ǥ …—””‡– Ž‹•– ‘ˆ –Š‡ –‘’ ͳͲ …‘–”‹„—–‘”• •ŠƒŽŽ „‡ ’”‘˜‹†‡† –‘ –Š‡ ‘‹••‹‘ ˆ‘”
†‹•…Ž‘•—”‡‘–Š‡‘‹••‹‘ǯ•–‡”‡–‡„•‹–‡ǤǤǤǤdzȌǤ
͹ͷǤ ǤǤʹ͹ǡʹͲͳͶ‡‰Ǥǡ‡‰Ǥ‡••ǤȚͳȋ…ȌȋͳȌȋƒŽǤʹͲͳͶȌǤ
͹͸Ǥ Id. Țͳȋ…ȌȋʹȌǤ
38015-ckt_91-3 Sheet No. 40 Side B
‘™”‡“—‹”‡†–‘”‡’‘”––Š‡‹”’‘Ž‹–‹…ƒŽ‡š’‡†‹–—”‡•ƒ†–Š‡•‘—”…‡•‘ˆ
–Š‘•‡ ˆ—†•ǡ ‡˜‡ –Š‘—‰Š –Š‡› ƒ”‡ ‘– ”‡“—‹”‡† –‘ ”‡’‘”– –Š‡‹” ‘–Š‡”
ȋ‹Ǥ‡Ǥ ‘Ǧ’‘Ž‹–‹…ƒŽȌ ‡š’‡†‹–—”‡• ‘” –Š‡ •‘—”…‡• ‘ˆ –Š‘•‡ ˆ—†•Ǥ ͸ͻ šǦ
’‡†‹–—”‡•‘ˆ̈́ͷͲǡͲͲͲ‹‘‡›‡ƒ”‘”̈́ͳͲͲǡͲͲͲ‘˜‡”ˆ‘—”›‡ƒ”•–”‹‰‰‡”
–Š‡ ”‡’‘”–‹‰ ”‡“—‹”‡‡–•Ǥ ͹Ͳ ”‰ƒ‹œƒ–‹‘• —•– —•‡ ƒ Žƒ•–Ǧ‹Ǧˆ‹”•–Ǧ
‘—– ‡–Š‘† –‘ ‹†‡–‹ˆ› †‘‘”• •—’’‘”–‹‰ ’‘Ž‹–‹…ƒŽ ƒ…–‹˜‹–‹‡•ǡ •‘ –Šƒ–
–Š‡ ‘”‰ƒ‹œƒ–‹‘ǯ• ‘•– ”‡…‡– †‘‘”• ƒ”‡ †‡‡‡† –‘ Šƒ˜‡ ’ƒ‹† ˆ‘”
’‘Ž‹–‹…‹‰ƒ…–‹˜‹–‹‡•Ǣ‘Ž›†‘‘”•™Š‘…‘–”‹„—–‡̈́ͳͲͲͲ‘”‘”‡—•–
„‡ ‹†‡–‹ˆ‹‡†Ǥ ͹ͳ ‘‘”• ™Š‘ ‹†‹…ƒ–‡ –Šƒ– ‘‡ ‘ˆ –Š‡‹” …‘–”‹„—–‹‘•
ƒ›„‡—•‡†ˆ‘”’‘Ž‹–‹…ƒŽ’—”’‘•‡•ƒ”‡‡š‡’–ˆ”‘†‹•…Ž‘•—”‡Ǥ ͹ʹ
Š‡ ƒŽ‹ˆ‘”‹ƒ Žƒ™ǯ• •’‘•‘” •–ƒ–‡† –Šƒ– DzȏŽȐƒ—†‡”‹‰ …ƒ’ƒ‹‰
…ƒ•Š –Š”‘—‰Š ‘’”‘ˆ‹–• –‘ Š‹†‡ ‘‡ǯ• –”—‡ ‹†‡–‹–› ™‹ŽŽ ‘ Ž‘‰‡” „‡
’‘••‹„Ž‡‹ƒŽ‹ˆ‘”‹ƒƒˆ–‡”›„‹ŽŽ‹•‡ƒ…–‡†Ǥdz ͹͵‘–Šƒ–‡†ǡ–Š‡‡™
Žƒ™ ’”‘˜‹†‡• –Šƒ– „ƒŽŽ‘– ‡ƒ•—”‡ …‘‹––‡‡• ƒ† •–ƒ–‡ …ƒ†‹†ƒ–‡ ‹Ǧ
†‡’‡†‡– ‡š’‡†‹–—”‡ …‘‹––‡‡• –Šƒ– Šƒ˜‡ ”ƒ‹•‡† ̈́ͳ ‹ŽŽ‹‘ ‘”
‘”‡—•–’”‘˜‹†‡–‘’ͳͲ…‘–”‹„—–‘”Ž‹•–•ˆ‘”’‘•–‹‰‘Ž‹‡Ǥ ͹ͶŠ‹Ž‡
–Š‡ ‡™ Žƒ™ ‹…Ž—†‡• „”‘ƒ† ”‡’‘”–‹‰ ƒ† †‹•…Ž‘•—”‡ ”‡“—‹”‡‡–•ǡ
‘Ž› –Š‹• ’”‘˜‹•‹‘ ƒ‡• …Ž‡ƒ” –Šƒ– –Š‡ ‘„Œ‡…–‹˜‡ ‹• public †‹•…Ž‘•—”‡
–Šƒ– ‹• ”‡ƒ†‹Ž› ƒ˜ƒ‹Žƒ„Ž‡ –‘ ‘”†‹ƒ”› ˜‘–‡”•ǡ ”ƒ–Š‡” –Šƒ †‹•…Ž‘•—”‡ –‘
–Š‡•–ƒ–‡ƒ—–Š‘”‹–‹‡•Ǥ
‡…–‹‘ͳ‘ˆ–Š‡•‡ƒ–‡„‹ŽŽ•‡–‘—––Š‡•–ƒ–‡ǯ•’—”’‘•‡•‹ƒ†‘’–‹‰
–Š‡ ƒ‡†‡–•ǡ ™Š‹…Šƒ’ ‘–‘ –Š‡ •–ƒ–‡ǯ•‹–‡”‡•–‹ ”‡‰—Žƒ–‹‘Ǥˆ
–Š‡•‡ ‹–‡”‡•–• ƒ”‡ …‘’‡ŽŽ‹‰ǡ –Š‡ –Š‡ •–ƒ–—–‡ ™‹ŽŽ ™‹–Š•–ƒ† ƒ ‹”•–
‡†‡– …ŠƒŽŽ‡‰‡ –‘ –Š‡ †‹•…Ž‘•—”‡ ”‡‰‹‡Ǥ Š‡ „‹ŽŽ •–ƒ–‡• –Šƒ–
†‹•…Ž‘•—”‡ ‘ˆ †‘‘”• Dz’”‘˜‹†‡• –Š‡ ‡Ž‡…–‘”ƒ–‡ ™‹–Š ‹ˆ‘”ƒ–‹‘ ƒ• –‘
™Š‡”‡…ƒ’ƒ‹‰ ‘‡›…‘‡• ˆ”‘ǡdz͹ͷ Dz†‡–‡”•ƒ…–—ƒŽ…‘””—’–‹‘ ƒ†
ƒ˜‘‹†•–Š‡ƒ’’‡ƒ”ƒ…‡‘ˆ…‘””—’–‹‘„›’”‘˜‹†‹‰‹…”‡ƒ•‡†–”ƒ•’ƒ”Ǧ
‡…›‘ˆ…‘–”‹„—–‹‘•ƒ†‡š’‡†‹–—”‡•ǡdz ͹͸ƒ†Š‡Ž’•–Š‡•–ƒ–‡–‘‰ƒ–ŠǦ
38015-ckt_91-3 Sheet No. 41 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
STATE LAW SOLUTIONS
ͻͲ͹
‡” Dz–Š‡ ‹ˆ‘”ƒ–‹‘ ‡…‡••ƒ”› –‘ †‡–‡…– ˜‹‘Žƒ–‹‘• ‘ˆ –Š‡ ‘Ž‹–‹…ƒŽ ‡Ǧ
ˆ‘”…–‘ˆͳͻ͹ͶǤdz ͹͹
Š‹Ž‡–Š‡•‡‡™”—Ž‡•Šƒ˜‡‘–›‡–„‡‡–‡•–‡†‹…‘—”–ǡƒŽ‹ˆ‘”‹ƒ
Šƒ• „‡‡ ‹˜‘Ž˜‡† ‹ Ž‹–‹‰ƒ–‹‘ ‘˜‡” –Š‡ ƒ‘›‹–› ‘ˆ †‘‘”• —†‡”
‘–Š‡” ”‡‰—Žƒ–‹‘• –Šƒ– ”‡“—‹”‡ …Šƒ”‹–ƒ„Ž‡ ‘”‰ƒ‹œƒ–‹‘• ”‡‰‹•–‡”‡† ‹
ƒŽ‹ˆ‘”‹ƒ–‘†‹•…Ž‘•‡–Š‡‹”ƒŒ‘”†‘‘”•–‘–Š‡––‘”‡›
‡‡”ƒŽǤƒ
†‡…‹•‹‘ –Šƒ– ‹‰Š– ˆ‘”‡•Šƒ†‘™ Ž‹–‹‰ƒ–‹‘ ‹˜‘Ž˜‹‰ –Š‡ ‡™ ”‡‰—ŽƒǦ
–‹‘•ˆ‘”ȋ…ȌȋͶȌ‘”‰ƒ‹œƒ–‹‘•‹˜‘Ž˜‡†‹’‘Ž‹–‹…ƒŽƒ…–‹˜‹–‹‡•ǡ–Š‡‹–Š
‹”…—‹– Š‡Ž† ˆ‘” –Š‡ •–ƒ–‡ ‹ ƒ ƒ…–‹‘ „”‘—‰Š– „› ƒ ‘—–Ǧ‘ˆǦ•–ƒ–‡
ͷͲͳȋ…Ȍȋ͵Ȍ ‡†—…ƒ–‹‘ƒŽ ‘”‰ƒ‹œƒ–‹‘ ƒ––‡’–‹‰ –‘ ƒ˜‘‹† †‘‘” †‹•…Ž‘Ǧ
•—”‡ ‘ ˆ”‡‡ ƒ••‘…‹ƒ–‹‘ ‰”‘—†•Ǥ ͹ͺ Š‡ …‘—”– Š‡Ž†ǣ Dz‘ …ƒ•‡ Šƒ• ‡˜‡”
Š‡Ž† ‘” ‹’Ž‹‡† –Šƒ– ƒ †‹•…Ž‘•—”‡ ”‡“—‹”‡‡– ‹ ƒ† ‘ˆ ‹–•‡Žˆ …‘•–‹Ǧ
–—–‡• ‹”•– ‡†‡–‹Œ—”›Ǥdz ͹ͻ Š‡ ”‡‰—Žƒ–‹‘ƒ–‹••—‡ ‹ –Š‡ ȋ…Ȍȋ͵Ȍ
…ƒ•‡”‡“—‹”‡††‹•…Ž‘•—”‡–‘–Š‡––‘”‡›
‡‡”ƒŽǡƒ†‘––‘–Š‡’—„Ž‹…ǡ
„—– –Š‡ …‘—”– ”‡Œ‡…–‡† –Š‡ ‘”‰ƒ‹œƒ–‹‘ǯ• ƒ”‰—‡– –Šƒ– ˆ‡†‡”ƒŽ ‘Ǧ
†‹•…Ž‘•—”‡ ‘ˆ …Š‡†—Ž‡ –‘ ‘” ͻͻͲ ’”‘Š‹„‹–‡† ƒŽ‹ˆ‘”‹ƒ ˆ”‘ †‡Ǧ
ƒ†‹‰–Šƒ–‹ˆ‘”ƒ–‹‘ǤŠ‡”‡™ƒ•‘‡˜‹†‡…‡‹–Š‡…ƒ•‡–Šƒ–†‘Ǧ
‘”• –‘ –Š‡ ‘”‰ƒ‹œƒ–‹‘ ™‘—Ž† •—ˆˆ‡” ‡‰ƒ–‹˜‡ ”‡’‡”…—••‹‘• ˆ”‘
…‘’Ž›‹‰™‹–Š–Š‡ƒŽ‹ˆ‘”‹ƒ”‡‰—Žƒ–‹‘Ǥ
B. New York
06/09/2016 10:30:17
͹͹Ǥ Id. Țͳȋ…Ȍȋ͵ȌǤ
͹ͺǤ –”Ǥˆ‘”‘’‡–‹–‹˜‡‘Ž‹–‹…•˜Ǥƒ””‹•ǡ͹ͺͶǤ͵†ͳ͵Ͳ͹ȋͻ–Š‹”ǤʹͲͳͷȌǤ
͹ͻǤ Id.ƒ–ͳ͵ͳ͸Ǥ
ͺͲǤ ǤǤǤǤƬ
Ǥ–‹–Ǥͳ͵ǡȚͻͳǤ͸ȋ”‡’‡ƒŽ‡†ʹͲͳͶȌǤ
ͺͳǤ See, e.g.ǡŽ‹œƒ‡™Ž‹ƒ”‡›ǡStates Target Politically Active NonprofitsǡȋƒǤ͵ǡ
ʹͲͳ͵Ȍǡ Š––’ǣȀȀ™™™Ǥ”‘ŽŽ…ƒŽŽǤ…‘Ȁ‡™•Ȁ•–ƒ–‡•̴–ƒ”‰‡–̴’‘Ž‹–‹…ƒŽŽ›̴ƒ…–‹˜‡̴‘’”‘ˆ‹–•ǦʹʹͲͷͶͶǦͳǤŠ–ŽǢ
‹…Š‘Žƒ•‘ˆ‡••‘”‡ǡAttorney General Seeks to Force Disclosure of More Political DonorsǡǤǤ
ȋ‡…Ǥ ͳͳǡ ʹͲͳʹȌǡ Š––’ǣȀȀ™™™Ǥ›–‹‡•Ǥ…‘ȀʹͲͳʹȀͳʹȀͳʹȀ›”‡‰‹‘Ȁ‡™Ǧ›‘”Ǧƒ––‘”‡›Ǧ‰‡‡”ƒŽǦ
•‡‡•Ǧ–‘Ǧ‡š’‘•‡Ǧ‘”‡Ǧ’‘Ž‹–‹…ƒŽǦ†‘‘”•ǤŠ–ŽǤ
38015-ckt_91-3 Sheet No. 41 Side A
—‡ʹͲͳ͵ǡ‡™‘”ƒ†‘’–‡†”‡‰—Žƒ–‹‘•”‡“—‹”‹‰†‹•…Ž‘•—”‡
„› ‘…Šƒ”‹–ƒ„Ž‡ ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘• –Šƒ– ’ƒ”–‹…‹’ƒ–‡ ‹ ‡Ž‡…Ǧ
–‹‘•Ǥ ͺͲ Š‡ ”‡‰—Žƒ–‹‘• ”‡“—‹”‡† ”‡’‘”–‹‰ ‘ˆ –Š‡ ’‡”…‡–ƒ‰‡ ‘ˆ ƒ
‘”‰ƒ‹œƒ–‹‘ǯ• ‡š’‡†‹–—”‡• †‡˜‘–‡† –‘ ’‘Ž‹–‹…ƒŽ …ƒ’ƒ‹‰•ǡ ƒ† ƒǦ
†ƒ–‡† ’—„Ž‹… †‹•…Ž‘•—”‡ ‘ˆ …‘–”‹„—–‘”• ‹ …‘‡…–‹‘ ™‹–Š ‡™ ‘”
‡Ž‡…–‹‘•ǡ–‘„‡’‘•–‡†‘–Š‡––‘”‡›
‡‡”ƒŽǯ•™‡„•‹–‡Ǥ‹‡ƒŽ‹ˆ‘”Ǧ
‹ƒǡ‡™‘”–ƒ–‡„‡…ƒ‡…‘…‡”‡†ƒ„‘—–•’‡†‹‰„›‘—–Ǧ‘ˆǦ•–ƒ–‡
•‘…‹ƒŽ ™‡Žˆƒ”‡ ‘”‰ƒ‹œƒ–‹‘• ‹ ‡™ ‘” ‡Ž‡…–‹‘•Ǥ ͺͳ Dz ‡™ ‘”ǡ ƒ
ͷͲͳȋ…ȌȋͶȌ…ƒŽŽ‡†‘‘‡•‡”‹…‹’Ž‡•ǡ„ƒ•‡†‹‹…Š‘†ǡ‹”‰‹Ǧ
‹ƒǡ •‡– ƒ •Ž‡™ ‘ˆ ƒ‹Ž‡”• –‘ ƒ› ˜‘–‡”• ƒ––ƒ…‹‰ –Š”‡‡ •–ƒ–‡ •‡ƒ–‡
38015-ckt_91-3 Sheet No. 41 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻͲͺ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
…ƒ†‹†ƒ–‡•Ǥdz ͺʹ  –Š‡ •—‡” ‘ˆ ʹͲͳʹǡ ––‘”‡› ‡‡”ƒŽ ”‹… …Š‡‹Ǧ
†‡”ƒ •‡– Ž‡––‡”• –‘ ’‘Ž‹–‹…ƒŽŽ› ƒ…–‹˜‡ ‘’”‘ˆ‹–• ‹…Ž—†‹‰ ”‘••Ǧ
”‘ƒ†• ǡ ‡”‹…ƒ …–‹‘ ‡–™‘”ǡ ƒ† ‡”‹…ƒ ”‹†‰‡ ʹͳ•–
‡–—”›‘—†ƒ–‹‘ǡ”‡“—‡•–‹‰‹–‡”ƒŽˆ‹ƒ…‹ƒŽ†‘…—‡–•Ǥ ͺ͵Š‘”–Ž›
–Š‡”‡ƒˆ–‡”ǡ Š‡ ƒ‘—…‡† ’”‘’‘•‡† ”‡‰—Žƒ–‹‘• –Šƒ– ™‘—Ž† ”‡“—‹”‡
‡š‡’– ‘”‰ƒ‹œƒ–‹‘• ”‡‰‹•–‡”‡† ‹ ‡™ ‘” –‘ †‹•…Ž‘•‡ …‡”–ƒ‹ ‡šǦ
’‡†‹–—”‡•ƒ†‹†‡–‹ˆ›†‘‘”•Ǥ ͺͶ
Š‡ ”‡‰—Žƒ–‹‘• ‡š’Ž‹…‹–Ž› ‡š…Ž—†‡† •‡…–‹‘ ͷͲͳȋ…Ȍȋ͵Ȍ ‘”‰ƒ‹œƒǦ
–‹‘•ǡ ƒ† ™‡”‡ –ƒ”‰‡–‡† –‘ ‘ǦͷͲͳȋ…Ȍȋ͵Ȍ ‘”‰ƒ‹œƒ–‹‘• ”‡‰‹•–‡”‡†
™‹–Š–Š‡––‘”‡›
‡‡”ƒŽȋ‹Ǥ‡Ǥ‘…Šƒ”‹–ƒ„Ž‡‘’”‘ˆ‹–•ȌǤ ͺͷŠ‡›™‡”‡
†‡•‹‰‡† –‘ „‡ ƒ ’ƒ”– ‘ˆ –Š‡ ”‡‰—Žƒ–‹‘ ‘ˆ ‘’”‘ˆ‹–•ǡ ”ƒ–Š‡” –Šƒ –Š‡
”‡‰—Žƒ–‹‘ ‘ˆ …ƒ’ƒ‹‰ ˆ‹ƒ…‡ ‘”‡ ‰‡‡”ƒŽŽ›ǡ ‘” –Š‡ ”‡‰—Žƒ–‹‘ ‘ˆ
’—„Ž‹… ‹–‡‰”‹–›ǡ ™Š‹…Š ‡™ ‘” Šƒ† ’”‡˜‹‘—•Ž› ƒ††”‡••‡† ‹ ‘–Š‡”
Ž‡‰‹•Žƒ–‹‘Ǥ ͺ͸Š‡––‘”‡›
‡‡”ƒŽǯ•”‡ƒ•‘ˆ‘”–Š‡”‡‰—Žƒ–‹‘•‹…Ž—†Ǧ
‡†ȋͳȌ’”‘–‡…–‹‰’”‘•’‡…–‹˜‡†‘‘”•ˆ”‘‹•Ž‡ƒ†‹‰•‘Ž‹…‹–ƒ–‹‘•ǡȋʹȌ
‰‹˜‹‰˜‘–‡”•‘”‡‹ˆ‘”ƒ–‹‘ƒ„‘—–™Š‘‹•„‡Š‹†ƒ†•ǡƒ†ȋ͵Ȍ’”‘Ǧ
–‡…–‹‰–Š‡”‡’—–ƒ–‹‘‘ˆ‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•ǡ‹…Ž—†‹‰…Šƒ”‹–‹‡•Ǥ ͺ͹
†‘’–‡†‹—‡ʹͲͳ͵ǡ ͺͺ–Š‡”‡‰—Žƒ–‹‘•”‡“—‹”‡†ƒ›–ƒš‡š‡’–
‘”‰ƒ‹œƒ–‹‘”‡‰‹•–‡”‡†‹‡™‘”–‘†‹•…Ž‘•‡–Š‡–‘–ƒŽ†‘ŽŽƒ”ƒ‘—–
‘ˆ‡Ž‡…–‹‘Ǧ”‡Žƒ–‡†‡š’‡†‹–—”‡•ȋ‹…Ž—†‹‰•–ƒ–‡ǡŽ‘…ƒŽǡˆ‡†‡”ƒŽǡƒ†‘—–
‘ˆ•–ƒ–‡‡Ž‡…–‹‘•Ȍƒ•™‡ŽŽƒ•™Šƒ–’‡”…‡–ƒ‰‡–Š‘•‡‡š’‡†‹–—”‡•ƒ”‡‘ˆ
–‘–ƒŽ‡š’‡†‹–—”‡•ƒ†‡„›–Š‡‘”‰ƒ‹œƒ–‹‘Ǥ ͺͻƒ††‹–‹‘ǡƒ›‘”‰ƒ‹Ǧ
œƒ–‹‘ •’‡†‹‰ ‘”‡ –Šƒ ̈́ͳͲǡͲͲͲ ‘ ‡™ ‘” ‡Ž‡…–‹‘• ™‘—Ž† „‡
”‡“—‹”‡†–‘†‹•…Ž‘•‡–Š‡”‡…‹’‹‡–•‘ˆƒŽŽ‡š’‡†‹–—”‡•‰”‡ƒ–‡”–Šƒ̈́ͷͲ
38015-ckt_91-3 Sheet No. 41 Side B
06/09/2016 10:30:17
ͺʹǤ ƒ˜‹†ƒ”Ž‡›ǡ‘—•‡Žǡ‡‘…”ƒ…›”‘‰”ƒǡ”‡ƒ–”Ǥˆ‘”—•–‹…‡ƒ–ǤǤ‹˜Ǥ…ŠǤ‘ˆ
ƒ™ǡ ‡•–‹‘› ‘ ‡™ ‘” ––‘”‡› ‡‡”ƒŽ ”‹… …Š‡‹†‡”ƒǯ• ”‘’‘•‡† ‡‰—Žƒ–‹‘• ‡Ǧ
‰ƒ”†‹‰‘Ž‹–‹…ƒŽ’‡†‹‰„›‘’”‘ˆ‹–”‰ƒ‹œƒ–‹‘•ȋƒǤͳͷǡʹͲͳ͵Ȍǡ
Š––’•ǣȀȀ™™™Ǥ„”‡ƒ…‡–‡”Ǥ‘”‰ȀƒƒŽ›•‹•Ȁ–‡•–‹‘›Ǧ‡™Ǧ›‘”Ǧƒ‰•Ǧ’”‘’‘•‡†Ǧ”‡‰—Žƒ–‹‘•Ǧ
’‘Ž‹–‹…ƒŽǦ•’‡†‹‰Ǧ‘’”‘ˆ‹–•Ǥ
ͺ͵Ǥ ƒ”‡›ǡsupra‘–‡ͺͳǤ
ͺͶǤ ”‡••‡Ž‡ƒ•‡ǡ”‹…Ǥ…Š‡‹†‡”ƒǡ––‘”‡›
‡ǤǡǤǤ–ƒ–‡ˆˆ‹…‡‘ˆ–Š‡––‘”‡›
‡Ǥǡ
Ǥ
Ǥ …Š‡‹†‡”ƒ ‘—…‡• ‡™ ‹•…Ž‘•—”‡ ‡“—‹”‡‡–• ‘” ‘’”‘ˆ‹–• Šƒ– ‰ƒ‰‡ 
Ž‡…–‹‘‡‡”‹‰ ȋ‡…Ǥ ͳʹǡ ʹͲͳʹȌǢ ‘–‡–• ‘ˆ —ƒŽ ‹ƒ…‹ƒŽ ‡’‘”–• ‹Ž‡† ™‹–Š –Š‡ ––‘”‡›
‡‡”ƒŽ„›‡”–ƒ‹‘’”‘ˆ‹–•ǡ͵ͶǤǤ‡‰Ǥʹͻȋ‡…Ǥʹ͸ǡʹͲͳʹȌȋ’”‘’‘•‡†”—Ž‡ƒ‹‰ȌǤ
ͺͷǤ See–‹–Ǥͳ͵ǡȚͻͳǤ͸ȋƒȌȋʹȌȋ†‡ˆ‹‹–‹‘‘ˆ…‘˜‡”‡†‘”‰ƒ‹œƒ–‹‘ȌǤ
ͺ͸Ǥ See—„Ž‹…–‡‰”‹–›‡ˆ‘”…–‘ˆʹͲͳͳǡ…ŠǤ͵ͻͻǡʹͲͳͳǤǤ‡••Ǥƒ™•ͷ͸͹ͻȋ…‹‡›ȌǢ
”‡••‡Ž‡ƒ•‡ǡ†”‡™Ǥ—‘‘ǡ
‘˜‡”‘”‘ˆǤǤǡ
‘˜‡”‘”—‘‘‹‰•–Š‹…•‡ˆ‘”‡‰‹•ŽƒǦ
–‹‘ȋ—‰ǤͳͷǡʹͲͳͳȌǡŠ––’ǣȀȀ™™™Ǥ‰‘˜‡”‘”Ǥ›Ǥ‰‘˜Ȁ’”‡••ȀͲͺͳͷʹͲͳͳ–Š‹…•‡ˆ‘”‡‰‹•Žƒ–‹‘ǤŠ‡
Žƒ…‘ˆ…‘‘”†‹ƒ–‹‘„‡–™‡‡–Š‡•‡”—Ž‡•‹•†‹œœ›‹‰Ǥ
ͺ͹Ǥ ”‡••‡Ž‡ƒ•‡ǡ”‹…Ǥ…Š‡‹†‡”ƒǡ––‘”‡›
‡ǤǡǤǤ–ƒ–‡ˆˆ‹…‡‘ˆ–Š‡––‘”‡›
‡Ǥǡ
Ǥ
Ǥ…Š‡‹†‡”ƒ†‘’–•‡™‹•…Ž‘•—”‡‡“—‹”‡‡–•‘”‘’”‘ˆ‹–•Šƒ–‰ƒ‰‡Ž‡…–‹‘Ǧ
‡‡”‹‰ȋ—‡ͷǡʹͲͳ͵ȌǤ
ͺͺǤ Id.
ͺͻǤ –‹–Ǥͳ͵ǡȚͻͳǤ͸ȋ„ȌȋͳȌǤ
38015-ckt_91-3 Sheet No. 42 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻͲͻ
ƒ† ƒŽ•‘ –Š‡ ƒ‡ǡ ƒ††”‡••ǡ ƒ† ‡’Ž‘›‡” ‘ˆ †‘‘”• ‰‹˜‹‰ ̈́ͳͲͲͲ ‘”
‘”‡Ǥ ͻͲŠ‡‡™‘””—Ž‡’”‘˜‹†‡†–Šƒ––Š‡‹ˆ‘”ƒ–‹‘†‹•…Ž‘•‡†„‡
ƒ†‡ ƒ˜ƒ‹Žƒ„Ž‡ ‘ –Š‡ ––‘”‡› ‡‡”ƒŽǯ• ™‡„•‹–‡ǡ ™‹–Š ƒ ‡š…‡’–‹‘
ˆ”‘’—„Ž‹…†‹•…Ž‘•—”‡‘ƒ•Š‘™‹‰‘ˆ’”‘„ƒ„‹Ž‹–›‘ˆŠƒ”Ǥ ͻͳŠ‡‘Ǧ
’”‘ˆ‹– ”‡‰—Žƒ–‹‘• ™‡”‡ •‘‘ ’”‡‡’–‡† „› …ƒ’ƒ‹‰ ˆ‹ƒ…‡ Žƒ™ †‡Ǧ
˜‡Ž‘’‡–•Ǥ
‡™‘”ǯ•
‘˜‡”‘”—‘‘…ƒŽŽ‡†ˆ‘”‰”‡ƒ–‡”†‹•…Ž‘•—”‡‘ˆ…‘Ǧ
–”‹„—–‹‘•–‘ƒ†‡š’‡†‹–—”‡•„›ƒŽŽ‘”‰ƒ‹œƒ–‹‘•ǡ‘–Œ—•–‘…Šƒ”‹Ǧ
–ƒ„Ž‡ ‘’”‘ˆ‹–•ǡ ͻʹ •‘ –Š‡ ‘’”‘ˆ‹–• ”‡‰—Žƒ–‹‘ ™ƒ• –‘‘ ƒ””‘™Ǥ
‘•‡“—‡–Ž›ǡ –Š‡ •–ƒ–‡ǯ• Ž‡…–‹‘ ƒ™ ™ƒ• ƒ‡†‡† ‹ —‡ ʹͲͳͶ –‘
”‡“—‹”‡“—‹…†‹•…Ž‘•—”‡‘ˆ…‘–”‹„—–‹‘•ƒ†‡š’‡†‹–—”‡•ƒ†‡„›ƒ
™‹†‡”ƒ‰‡‘ˆ‘”‰ƒ‹œƒ–‹‘•ǡ‹…Ž—†‹‰‘…Šƒ”‹–ƒ„Ž‡‘’”‘ˆ‹–•Ǥͻ͵Š‡
––‘”‡›
‡‡”ƒŽ‹‡†‹ƒ–‡Ž›–Š‡”‡ƒˆ–‡””‡˜‘‡†–Š‡‘’”‘ˆ‹–”—Ž‡ƒ•
DzŽƒ”‰‡Ž› ”‡†—†ƒ–ǡdz •‘‡™Šƒ– Dz…‘–”ƒ†‹…–‘”›dz ƒ† Dz„—”†‡•‘‡dz –‘
‘”‰ƒ‹œƒ–‹‘•Ǥ ͻͶ ‡™ ”‡‰—Žƒ–‹‘ ‘ ‹†‡’‡†‡– ‡š’‡†‹–—”‡• ™‡–
‹–‘‡ˆˆ‡…–‹ƒ—ƒ”›ʹͲͳͷ–‘‹’Ž‡‡––Š‡Ž‡…–‹‘ƒ™Ǥ ͻͷ–”‡“—‹”‡•
”‡‰‹•–”ƒ–‹‘ „› ‘”‰ƒ‹œƒ–‹‘• ƒ‹‰ ‹†‡’‡†‡– ‡š’‡†‹–—”‡•ǡ †‡Ǧ
ˆ‹‡†ȋ‹’ƒ”–Ȍ„›ƒ•‡–‘ˆˆƒ…–‘”•Ǥ ͻ͸‡‰‹•–”ƒ–‘”‰ƒ‹œƒ–‹‘•—•–‘™
†‹•…Ž‘•‡…‘–”‹„—–‹‘•‘ˆ̈́ͳǡͲͲͲ‘”‘”‡ƒ†‡š’‡†‹–—”‡•‘ˆ̈́ͷǡͲͲͲ‘”
‘”‡–‘–Š‡‘ƒ”†‘ˆŽ‡…–‹‘•Ǥ ͻ͹
38015-ckt_91-3 Sheet No. 42 Side A
06/09/2016 10:30:17
ͻͲǤ Id. ȚͻͳǤ͸ȋ„ȌȋʹȌȂȋ…ȌȋͳȌǤ
ͻͳǤ Id. ȚͻͳǤ͸ȋ‰ȌȂȋŠȌǤ
ͻʹǤ › ƒ‹Ž–‘ǡ New York Governor Proposes Tax-Free ‘Hot Spots,’ Tougher Disclosure
Lawǡ ȋƒǤ ͳͲǡ ʹͲͳ͵Ȍǡ Š––’ǣȀȀ™™™Ǥ–ƒš‘–‡•Ǥ…‘Ȁ•–ƒ–‡Ǧ–ƒšǦ–‘†ƒ›Ȁ…‘”’‘”ƒ–‡Ǧ
–ƒšƒ–‹‘Ȁ‡™Ǧ›‘”Ǧ‰‘˜‡”‘”Ǧ’”‘’‘•‡•Ǧ–ƒšǦˆ”‡‡ǦŠ‘–Ǧ•’‘–•Ǧ–‘—‰Š‡”Ǧ†‹•…Ž‘•—”‡Ǧ
Žƒ™ȀʹͲͳ͵ȀͲͳȀͳͲȀͺͺͺͻ͸ ȋDzȏȐ‘–”‹„—–‹‘• ‘ˆ ‘”‡ –Šƒ ̈́ͷͲͲ –‘ ƒ ’‘Ž‹–‹…ƒŽ ƒ…–‹‘ …‘‹––‡‡ǡ ƒ
Ž‘„„›‹‰ ͷͲͳȋ…Ȍȋ͵Ȍ ‘”‰ƒ‹œƒ–‹‘ ‘” ‘–Š‡” ͷͲͳȋ…Ȍ ‘”‰ƒ‹œƒ–‹‘ǡ ‘” ’‘Ž‹–‹…ƒŽ ’ƒ”–› ™‘—Ž† „‡ †‹•Ǧ
…Ž‘•‡†–‘–Š‡•–ƒ–‡™‹–Š‹ͶͺŠ‘—”•ǡƒ†™‹–Š‹ʹͶŠ‘—”•‡ƒ”Ž‡…–‹‘ƒ›ǤdzȌǤ
ͻ͵Ǥ ǤǤǤȚͳͶǦͳͲ͹ȋ…‹‡›ʹͲͳͷȌǤ
ͻͶǤ ”‹…Ǥ…Š‡‹†‡”ƒǡ––‘”‡›
‡ǤǡǤǤ–ƒ–‡ˆˆ‹…‡‘ˆ–Š‡––‘”‡›
‡Ǥǡ‡”–‹ˆ‹…ƒ–‹‘
‘–Š‡‡†‡––‘ƒ”–ͻͳ‘ˆ‹–Ž‡ͳ͵‘ˆ–Š‡ˆˆ‹…‹ƒŽ‘’‹Žƒ–‹‘‘ˆ‘†‡•ǡ—Ž‡•ƒ†‡‰—ŽƒǦ
–‹‘•‘ˆ–Š‡–ƒ–‡‘ˆ‡™‘”ȋ—Ž›͵ͳǡʹͲͳͶȌǡ
Š––’ǣȀȀ™™™Ǥ…Šƒ”‹–‹‡•›•Ǥ…‘Ȁ’†ˆ•Ȁͻͳ̴͸̴
̴‡”–‹ˆ‹…ƒ–‹‘Ǥ’†ˆǤ
ͻͷǤ ǤǤǤǤƬ
Ǥ–‹–ǤͻǡȚ͸ʹͲͲǤͳͲȋʹͲͳͷȌǤ
ͻ͸Ǥ Id.Ț͸ʹͲͲǤͳͲȋ„ȌȋͳȌȋ‹ȌȋcȌȋ2ȌȋiȌȋDz‘”’—”’‘•‡•‘ˆ†‡–‡”‹‹‰™Š‡–Š‡”‘”‘–ƒ…‘—Ǧ
‹…ƒ–‹‘‹•ƒ†˜‘…ƒ–‹‰ˆ‘”‘”ƒ‰ƒ‹•–ƒ…ƒ†‹†ƒ–‡‘”„ƒŽŽ‘–’”‘’‘•ƒŽǡ–Š‡ˆ‘ŽŽ‘™‹‰ˆƒ…–‘”••ŠƒŽŽ„‡
…‘•‹†‡”‡†ǡ„—–•ŠƒŽŽ‘–„‡Ž‹‹–‡†–‘ǣȋAȌŠ‡–Š‡”‹–‹†‡–‹ˆ‹‡•ƒ’ƒ”–‹…—Žƒ”…ƒ†‹†ƒ–‡„›ƒ‡‘”
‘–Š‡” ‡ƒ• •—…Š ƒ• ’ƒ”–› ƒˆˆ‹Ž‹ƒ–‹‘ ‘” †‹•–‹…–‹˜‡ ˆ‡ƒ–—”‡• ‘ˆ ƒ …ƒ†‹†ƒ–‡ǯ• ’Žƒ–ˆ‘” ‘” „‹‘‰Ǧ
”ƒ’Š›ǢȋBȌŠ‡–Š‡”‹–‡š’”‡••‡•ƒ’’”‘˜ƒŽ‘”†‹•ƒ’’”‘˜ƒŽˆ‘”•ƒ‹†…ƒ†‹†ƒ–‡ǯ•’‘•‹–‹‘•‘”ƒ…–‹‘•Ǣ
ȋCȌŠ‡–Š‡”‹–‹•’ƒ”–‘ˆƒ‘‰‘‹‰•‡”‹‡•„›–Š‡‰”‘—’‘–Š‡•ƒ‡‹••—‡ƒ†–Š‡•‡”‹‡•‹•‘–
–‹‡†–‘ƒ‡Ž‡…–‹‘ǢȋDȌƒ•–Š‡‹••—‡”ƒ‹•‡†‹–Š‡…‘—‹…ƒ–‹‘„‡‡”ƒ‹•‡†ƒ•ƒ†‹•–‹‰—‹•ŠǦ
‹‰…Šƒ”ƒ…–‡”‹•–‹…ƒ‘‰•––Š‡…ƒ†‹†ƒ–‡•Ǣƒ†ȋEȌŠ‡–Š‡”‹–•–‹‹‰ƒ†–Š‡‹†‡–‹ˆ‹…ƒ–‹‘‘ˆ–Š‡
…ƒ†‹†ƒ–‡ƒ”‡”‡Žƒ–‡†–‘ƒ‘Ǧ‡Ž‡…–‘”ƒŽ‡˜‡–ȋ‡Ǥ‰ǤǤƒ˜‘–‡‘Ž‡‰‹•Žƒ–‹‘‘”ƒ’‘•‹–‹‘‘Ž‡‰‹•ŽƒǦ
–‹‘„›ƒ‘ˆˆ‹…‡Š‘Ž†‡”™Š‘‹•ƒŽ•‘ƒ…ƒ†‹†ƒ–‡ȌǤ‘™‡˜‡”ǡ‡˜‡‹ˆ•‘‡‘ˆ–Š‡ƒ„‘˜‡ˆƒ…–‘”•ƒ”‡
ˆ‘—†ǡ–Š‡…‘—‹…ƒ–‹‘—•–•–‹ŽŽ„‡…‘•‹†‡”‡†‹…‘–‡š–„‡ˆ‘”‡ƒ””‹˜‹‰ƒ–ƒ›…‘…Ž—•‹‘ǤdzȌǤ
ͻ͹Ǥ Id.Ț͸ʹͲͲǤͳͲȋ†ȌǤ
38015-ckt_91-3 Sheet No. 42 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻͳͲ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
06/09/2016 10:30:17
ͻͺǤ ǤǤǤǤƬ
Ǥ–‹–Ǥͳ͵ǡȚͻͳǤ͸ȋƒȌȋ͹Ȍȋ”‡’‡ƒŽ‡†ʹͲͳͶȌȋDzǮŽ‡…–‹‘–ƒ”‰‡–‡†‹••—‡
ƒ†˜‘…ƒ…›ǯȋ‹Ȍ‡ƒ•ƒ›…‘—‹…ƒ–‹‘‘–Š‡”–Šƒ‡š’”‡••‡Ž‡…–‹‘ƒ†˜‘…ƒ…›ƒ†‡™‹–Š‹ˆ‘”–›Ǧ
ˆ‹˜‡†ƒ›•„‡ˆ‘”‡ƒ›’”‹ƒ”›‡Ž‡…–‹‘‘”‹‡–›†ƒ›•„‡ˆ‘”‡ƒ›‰‡‡”ƒŽ‡Ž‡…–‹‘–Šƒ–ǣȋȌ”‡ˆ‡”•–‘
‘‡‘”‘”‡…Ž‡ƒ”Ž›‹†‡–‹ˆ‹‡†…ƒ†‹†ƒ–‡•‹–Šƒ–‡Ž‡…–‹‘ǢȋȌ†‡’‹…–•–Š‡ƒ‡ǡ‹ƒ‰‡ǡŽ‹‡‡••‘”
˜‘‹…‡ ‘ˆ ‘‡ ‘” ‘”‡ …Ž‡ƒ”Ž› ‹†‡–‹ˆ‹‡† …ƒ†‹†ƒ–‡• ‹ –Šƒ– ‡Ž‡…–‹‘Ǣ ‘” ȋȌ ”‡ˆ‡”• –‘ ƒ› …Ž‡ƒ”Ž›
‹†‡–‹ˆ‹‡† ’‘Ž‹–‹…ƒŽ ’ƒ”–›ǡ …‘•–‹–—–‹‘ƒŽ ƒ‡†‡–ǡ ’”‘’‘•‹–‹‘ǡ ”‡ˆ‡”‡†— ‘” ‘–Š‡” “—‡•–‹‘
•—„‹––‡†–‘–Š‡˜‘–‡”•‹–Šƒ–‡Ž‡…–‹‘ǤdzȌǤ
ͻͻǤ –‹–ǤͻǡȚ͸ʹͲͲǤͳͲȋ‰ȌȋͳȌȋDzŠ‡‡˜‡”ƒ›’‡”•‘ƒ‡•ƒ†‡’‡†‡–š’‡†‹–—”‡–Šƒ–
…‘•–•‘”‡–Šƒ̈́ͳǡͲͲͲ‹–Š‡ƒ‰‰”‡‰ƒ–‡ǡ•—…Š…‘—‹…ƒ–‹‘•ŠƒŽŽ…Ž‡ƒ”Ž›•–ƒ–‡–Š‡ƒ‡‘ˆ–Š‡
’‡”•‘ ™Š‘ ’ƒ‹† ˆ‘” ‘” ‘–Š‡”™‹•‡ ’—„Ž‹•Š‡† ‘” †‹•–”‹„—–‡† –Š‡ …‘—‹…ƒ–‹‘ ƒ† •–ƒ–‡ǡ ™‹–Š
”‡•’‡…– –‘ …‘—‹…ƒ–‹‘• ”‡‰ƒ”†‹‰ …ƒ†‹†ƒ–‡•ǡ –Šƒ– –Š‡ …‘—‹…ƒ–‹‘ ™ƒ• ‘– ‡š’”‡••Ž›
ƒ—–Š‘”‹œ‡†‘””‡“—‡•–‡†„›ƒ›…ƒ†‹†ƒ–‡ǡ‘”„›ƒ›…ƒ†‹†ƒ–‡ǯ•’‘Ž‹–‹…ƒŽ…‘‹––‡‡‘”ƒ›‘ˆ‹–•
ƒ‰‡–•ȋͳͶǦͳͲ͹ȋʹȌȌǤdzȌǤ
38015-ckt_91-3 Sheet No. 42 Side B
Ž–Š‘—‰Š –Š‡ ––‘”‡› ‡‡”ƒŽǯ• ”‡˜‘…ƒ–‹‘ ‘–‹…‡ ˆ‘” –Š‡ ‘Ǧ
’”‘ˆ‹–”‡‰—Žƒ–‹‘•—‰‰‡•–‡†–Šƒ––Š‡‡™”—Ž‡™‘—Ž†ƒ…Š‹‡˜‡–Š‡•ƒ‡
‰‘ƒŽ•ƒ•–Š‡”‡˜‘‡†”—Ž‡ǡ–Š‡–™‘”—Ž‡•†‹ˆˆ‡”‹‹’‘”–ƒ–™ƒ›•Ǥ‘•–
‡••‡–‹ƒŽŽ›ǡ –Š‡ ”‡˜‘‡† ”—Ž‡ ™ƒ• –ƒ”‰‡–‡† –‘ ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘•ǡ
ƒ†ƒ†‹‹•–‡”‡†ƒ•’ƒ”–‘ˆ–Š‡ƒ’’ƒ”ƒ–—•‰‘˜‡”‹‰–Š‡‹”ƒ…–‹˜‹–‹‡•‹
–Š‡ •–ƒ–‡Ǥ Š‡ ‹–‡‰”‹–› ‘ˆ –Š‡ ‘’”‘ˆ‹– •‡…–‘” ’”‘˜‹†‡† ƒ …Ž‡ƒ” „ƒ…Ǧ
†”‘’ –‘ –Š‘•‡ ”—Ž‡•ǡ ™Š‡”‡ƒ• –Š‡ ‡Ž‡…–‹‘ Žƒ™ ”—Ž‡• ƒ”‡ ‘”‡ „”‘ƒ†Ž›
ƒ’’Ž‹…ƒ„Ž‡ ƒ† …‘‡…–‡† –‘ …ƒ’ƒ‹‰ ˆ‹ƒ…‡ ”‡‰—Žƒ–‹‘ ”ƒ–Š‡” –Šƒ
‘’”‘ˆ‹–”‡‰—Žƒ–‹‘ǤŠ‡…‘–‡–‘ˆ–Š‡”‡‰—Žƒ–‘”›”‡“—‹”‡‡–•ƒŽ•‘
†‹ˆˆ‡”ǡƒ†–Š‡‘’”‘ˆ‹–”—Ž‡•™‡”‡ƒ”‰—ƒ„Ž›‘”‡”‹‰‘”‘—•ǤŠ‡Ž‡…Ǧ
–‹‘ ƒ™ǯ• †‡ˆ‹‹–‹‘ ‘ˆ ”‡’‘”–ƒ„Ž‡ ‡Ž‡…–‹‘Ǧ”‡Žƒ–‡† ƒ…–‹˜‹–‹‡• …‘˜‡”• ƒ
ƒ””‘™‡””ƒ‰‡‘ˆƒ†˜‘…ƒ…›–Šƒ†‹†–Š‡‘’”‘ˆ‹–•”‡‰—Žƒ–‹‘„‡…ƒ—•‡
‹– ‹…Ž—†‡• ‘Ž› …‘—‹…ƒ–‹‘• –Šƒ– Dz”‡ˆ‡” –‘ ƒ† ƒ†˜‘…ƒ–‡ ˆ‘” ‘”
ƒ‰ƒ‹•–dz ƒ …ƒ†‹†ƒ–‡ ‹ ƒ ‡™ ‘” ‡Ž‡…–‹‘ǡ ™Š‹Ž‡ –Š‡ ”‡˜‘‡† ”—Ž‡
‹…Ž—†‡† Dz‡Ž‡…–‹‘ –ƒ”‰‡–‡† ‹••—‡ ƒ†˜‘…ƒ…›dz –Šƒ– …Ž‡ƒ”Ž› ‹†‡–‹ˆ‹‡† ƒ
…ƒ†‹†ƒ–‡‘”’‘Ž‹–‹…ƒŽ’ƒ”–›Ǥ ͻͺŠ‡–Š”‡•Š‘Ž†ˆ‘””‡’‘”–‹‰•’‡†‹‰‹•
ƒŽ•‘•—„•–ƒ–‹ƒŽŽ›Š‹‰Š‡”‹–Š‡Ž‡…–‹‘ƒ™˜‡”•‹‘–Šƒ–Š‡‘’”‘ˆǦ
‹–•˜‡”•‹‘ȋ̈́ͷǡͲͲͲ˜•Ǥ̈́ͷͲȌǤ
‘•–‹’‘”–ƒ–Ž›ǡ–Š‡”‡‹•‘’”‘˜‹•‹‘‹–Š‡Ž‡…–‹‘ƒ™”‡‰—ŽƒǦ
–‹‘•ˆ‘”’—„Ž‹…†‹•…Ž‘•—”‡‘–Š‡––‘”‡›
‡‡”ƒŽǯ•™‡„•‹–‡ǤŠ‡•–ƒ–‡
™‘—Ž† Šƒ˜‡ –Š‡ ”‡’‘”–‡† ‹ˆ‘”ƒ–‹‘ ˆ‘” ‡ˆ‘”…‡‡– ’—”’‘•‡•ǡ „—–
–Š‡‰‡‡”ƒŽ’—„Ž‹…™‘—Ž†‘–„‡ƒ„Ž‡–‘Œ—†‰‡–Š‡…‘–‡–‘ˆƒ‡••ƒ‰‡
„›†‹•…‘˜‡”‹‰™Š‹…Š‹†‹˜‹†—ƒŽ•‘”…‘”’‘”ƒ–‹‘•’ƒ‹†ˆ‘”‹–ǤŠ‡”‡‹•ƒ
’—„Ž‹…ƒ•’‡…––‘–Š‡”‡“—‹”‡††‹•…Ž‘•—”‡—†‡”–Š‡Ž‡…–‹‘ƒ™ǡ„—–‹–
‹• –ƒ”‰‡–‡† –‘ –Š‡ ’‘Ž‹–‹…ƒŽ …‘—‹…ƒ–‹‘• –Š‡•‡Ž˜‡•ǡ ƒ† ˆƒ‹Ž• –‘
Ž‘‘„‡Š‹†ƒ‘”‰ƒ‹œƒ–‹‘ǤŠ‡Ž‡…–‹‘ƒ™’”‘˜‹•‹‘”‡“—‹”‡•–Šƒ–
…‘—‹…ƒ–‹‘•‹…Ž—†‡ƒ––”‹„—–‹‘••‘–Šƒ––Š‡’‡”•‘™Š‘’ƒ‹†ˆ‘”ƒ
…‘—‹…ƒ–‹‘ ȋ•—…Š ƒ• ƒ –‡Ž‡˜‹•‹‘ ƒ†Ȍ ‹• ‹†‡–‹ˆ‹‡†Ǥ ͻͻ Šƒ– ”—Ž‡ †‡Ǧ
ƒ†• ‹‹ƒŽ ”‡ƒŽ –”ƒ•’ƒ”‡…› „‡…ƒ—•‡ –Š‡‹†‡–‹ˆ‹…ƒ–‹‘ ‘ˆ ƒ‘”Ǧ
‰ƒ‹œƒ–‹‘™‹–Šƒ‘’ƒ“—‡ƒ‡”‡˜‡ƒŽ•˜‹”–—ƒŽŽ›‘‹ˆ‘”ƒ–‹‘ƒ„‘—–
38015-ckt_91-3 Sheet No. 43 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻͳͳ
™Š‘‹•„‡Š‹†–Š‡…‘—‹…ƒ–‹‘Ǥˆƒ…–ǡ‡˜‡–Š‡”‡˜‘‡†‡™‘”
”—Ž‡…‘—Ž†ˆƒ‹Ž–‘’”‘˜‹†‡‡ƒ‹‰ˆ—Ž‹ˆ‘”ƒ–‹‘„‡…ƒ—•‡ƒ†ƒ‹•›…Šƒ‹
‘ˆ‘”‰ƒ‹œƒ–‹‘•…ƒ‘„•…—”‡–Š‡”‡ƒŽ„ƒ…‡”•Ǥ‡‹–Š‡”‹–‡”ƒ–‹‘‘ˆ‡™
‘”ǯ•”—Ž‡…‘–ƒ‹•–Š‡Ž‘‘Ǧ–Š”‘—‰Š”‡’‘”–‹‰‘„Ž‹‰ƒ–‹‘•‘ˆ–Š‡ƒŽ‹Ǧ
ˆ‘”‹ƒ”—Ž‡Ǥ
Ǥ
ǫ
‘‡˜ƒŽ—ƒ–‡•–ƒ–‡ǦŽƒ™”‡‰—Žƒ–‹‘ǡ‹–‹•‡…‡••ƒ”›–‘Šƒ˜‡ƒ…Ž‡ƒ”‘Ǧ
–‹‘‘ˆ–Š‡’‘Ž‹…›‰‘ƒŽ•–‘„‡ƒ††”‡••‡†ǤŠ‡‹“—‹”›Š‡”‡‹•–™‘Ǧˆ‘Ž†ǣ
•–ƒ–‡•—•–„‡…‘’ƒ”‡†–‘–Š‡ˆ‡†‡”ƒŽ‰‘˜‡”‡–ǡƒ†™‹–Š‹•–ƒ–‡Ǧ
Žƒ™”‡‰—Žƒ–‹‘ǡ‘’”‘ˆ‹–Žƒ™—•–„‡…‘’ƒ”‡†–‘•–ƒ–‡‡Ž‡…–‹‘Žƒ™Ǥ
Š‡•–ƒ–‡•‹‰Š–„‡ƒˆ‹”•–Ǧ„‡•–•‘Ž—–‹‘ˆ‘”ƒ††”‡••‹‰–Š‡’”‘„Ž‡•‘ˆ
†ƒ”‘‡›‹’‘Ž‹–‹…•‹ˆ–Š‡”‡‰—Žƒ–‘”›’‘Ž‹…›‰‘ƒŽ•ƒ”‡…‘”‡•–ƒ–‡ǦŽƒ™
‰‘ƒŽ• Ž‹‡ ’”‡˜‡–‹‰ ˆ”ƒ—† ƒ† ’”‘–‡…–‹‰ …Šƒ”‹–‹‡• ‘” †‘‘”•Ǥ —–
•–ƒ–‡ •‘Ž—–‹‘• ƒ”‡ •–‹ŽŽ ™‘”–Š ’—”•—‹‰ ‡˜‡ ‹ˆ –Š‡› ƒ”‡ •‡…‘†Ǧ„‡•–
ƒŽ–‡”ƒ–‹˜‡• ‹ˆ –Š‡› …ƒ ‹’”‘˜‡ ‡Ž‡…–‹‘ ‹–‡‰”‹–› ™Š‹Ž‡ –Š‡ ˆ‡†‡”ƒŽ
‰‘˜‡”‡–‹•–‘‘†›•ˆ—…–‹‘ƒŽ–‘†‘ƒ›–Š‹‰‹–Š‹•ƒ”‡ƒǤŠ‹••‡…Ǧ
–‹‘‡š’Ž‘”‡•’‘••‹„Ž‡•–ƒ–‡’‘Ž‹…›‹–‡”‡•–•ǡƒ†–Š‡‡š–•‡…–‹‘ƒ’•
”‡‰—Žƒ–‘”›•‘Ž—–‹‘•‘–‘–Š‡Ǥ
A. Equalizing Political Power
06/09/2016 10:30:17
ͳͲͲǤ Ǥ ǡ Ǥ ǤǤ Ǥ Ǥ ǡCITIZENS UNITED ͷǦ͸ȋʹͲͳͷȌǡ
Š––’ǣȀȀ™™™Ǥ„”‡ƒ…‡–‡”Ǥ‘”‰Ȁ•‹–‡•Ȁ†‡ˆƒ—Ž–Ȁˆ‹Ž‡•ȀƒƒŽ›•‹•Ȁ‹–œ‡•̴‹–‡†̴ΨʹͲ‹˜‡̴‡ƒ”•̴ƒ–‡
”Ǥ’†ˆǤ
ͳͲͳǤ See id.ƒ–ͷȋDzʹͲͳͶǡ–Š‡–‘’ͳͲͲ‹†‹˜‹†—ƒŽ†‘‘”••’‡–‡ƒ”Ž›ƒ•—…Šƒ•–Š‡‡•–‹ƒ–Ǧ
‡†ͶǤ͹ͷ‹ŽŽ‹‘•ƒŽŽ†‘‘”•‹ˆ‡†‡”ƒŽ‡Ž‡…–‹‘•ǤdzȌǤ
ͳͲʹǤ …—–…Š‡‘˜Ǥ‡†ǤŽ‡…–‹‘‘ǯǡͳ͵ͶǤ–ǤͳͶ͵ͶǡͳͶͷͲȋʹͲͳͶȌȋ†‹•…—••‹‰–Š‡”‘Ž‡
‘ˆˆ‡†‡”ƒŽ‰‘˜‡”‡–ƒ†•ƒ›‹‰ǡDz‘ƒ––‡”Š‘™†‡•‹”ƒ„Ž‡‹–ƒ›•‡‡ǡ‹–‹•‘–ƒƒ……‡’–ƒ„Ž‡
‰‘˜‡”‡–ƒŽ‘„Œ‡…–‹˜‡–‘ǮŽ‡˜‡Ž–Š‡’Žƒ›‹‰ˆ‹‡Ž†ǡǯ‘”–‘ǮŽ‡˜‡Ž‡Ž‡…–‘”ƒŽ‘’’‘”–—‹–‹‡•ǡǯ‘”–‘Ǯ‡“—ƒŽǦ
‹œȏ‡Ȑ–Š‡ˆ‹ƒ…‹ƒŽ”‡•‘—”…‡•‘ˆ…ƒ†‹†ƒ–‡•ǤǯdzȌǤ
38015-ckt_91-3 Sheet No. 43 Side A
– ‹–• ‘•– ˆ—†ƒ‡–ƒŽǡ –Š‡ †ƒ” ‘‡› ’”‘„Ž‡ ‹• ƒ„‘—– —‡Ǧ
“—ƒŽ’‘Ž‹–‹…ƒŽ’‘™‡”Ǥ ͳͲͲ‘‡›‡ƒ„Ž‡••‘‡‹†‹˜‹†—ƒŽ•ƒ†…‘”’‘”ƒǦ
–‹‘• –‘ Šƒ˜‡ ‰”‡ƒ–‡” ‹ˆŽ—‡…‡ ‹ –Š‡ ’‘Ž‹–‹…ƒŽ ’”‘…‡••Ǥ ͳͲͳ ˆ …‘—”•‡ǡ
–Š‹•‹•ƒ’”‘„Ž‡™‹–ŠDz„”‹‰Š–dz‘‡›ƒ•™‡ŽŽǡƒ†‘‡‘ˆ–Š‡”‡‰—ŽƒǦ
–‹‘•ƒ†‘’–‡†„›•–ƒ–‡•ƒ––‡’––‘”‡‡†›–Š‡‹‡˜‹–ƒ„Ž‡‹„ƒŽƒ…‡‘ˆ
’‘Ž‹–‹…ƒŽ’‘™‡”…ƒ—•‡†„›‡…‘‘‹…‹‡“—ƒŽ‹–›Ǥ†‡”…—””‡–—’”‡‡
‘—”– Œ—”‹•’”—†‡…‡ǡ ‡“—ƒŽ‹œ‹‰ ’‘Ž‹–‹…ƒŽ ’‘™‡” …ƒ‘– ”‡ƒ•‘ƒ„Ž› „‡
–Š‡‰‘ƒŽ‘ˆ•–ƒ–‡Žƒ™”‡‰—Žƒ–‹‘Ǣ ͳͲʹCitizens United‹–•‡Žˆ•Š‘™•–Šƒ–ƒ›
”‡‰—Žƒ–‹‘–‘”‡‡†›–Šƒ–‘•–…‡–”ƒŽ’”‘„Ž‡™‘—Ž†ˆƒ…‡’”‘†‹‰‹‘—•
38015-ckt_91-3 Sheet No. 43 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻͳʹ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
CHICAGO-KENT LAW REVIEW
ȏ‘Žͻͳǣ͵
…‘•–‹–—–‹‘ƒŽ Š—”†Ž‡•Ǥ ͳͲ͵ ˆ ‡“—ƒŽ‹œ‹‰ ’‘Ž‹–‹…ƒŽ ’‘™‡” ‹• –Š‡ …‡–”ƒŽ
”‡‰—Žƒ–‘”›‰‘ƒŽǡ–Š‡•–ƒ–‡•ƒ”‡†‘‘‡†–‘ˆƒ‹ŽǤ—–ƒƒ””‘™‡”†‡ˆ‹‹–‹‘
‘ˆ –Š‡ ’‘Ž‹…› ‘„Œ‡…–‹˜‡ǡ –Š‘—‰Š ‘”‡ Ž‹‹–‡† ‹ ‹–• ƒ„‹–‹‘ǡ ‹• ƒŽ•‘
‘”‡ƒ‡ƒ„Ž‡–‘”‡‰—Žƒ–‘”›•‘Ž—–‹‘Ǥ
B. Creating Frictions for Out-of-State Voices
06/09/2016 10:30:17
ͳͲ͵Ǥ ‹–‹œ‡• ‹–‡† ˜Ǥ ‡†Ǥ Ž‡…–‹‘ ‘ǯǡ ͷͷͺ ǤǤ ͵ͳͲǡ ͵ͶͻȂͷͲ ȋʹͲͳͲȌ ȋ”‡Œ‡…–‹‰ –Š‡
Austinƒ–‹Ǧ†‹•–‘”–‹‘”ƒ–‹‘ƒŽ‡‹ˆƒ˜‘”‘ˆ–Š‡Buckley”‡Œ‡…–‹‘‘ˆ–Š‡Dz’”‡‹•‡–Šƒ––Š‡
‘˜‡”Ǧ
‡–Šƒ•ƒ‹–‡”‡•–‹Ǯ‡“—ƒŽ‹œ‹‰–Š‡”‡Žƒ–‹˜‡ƒ„‹Ž‹–›‘ˆ‹†‹˜‹†—ƒŽ•ƒ†‰”‘—’•–‘‹ˆŽ—‡…‡–Š‡
‘—–…‘‡‘ˆ‡Ž‡…–‹‘•ǤǯdzȌǤ
ͳͲͶǤ Seesupra‘–‡•͸ͳǡͺͳƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
ͳͲͷǤ See ƒ’• ‡™ˆ‘—†Ȁ™ƒ–‘ƒǡ …Ǥ ˜Ǥ ‘™ ‘ˆ ƒ””‹•‘ǡ ͷʹͲ ǤǤ ͷ͸Ͷ ȋͳͻͻ͹Ȍ
ȋ†‘”ƒ–…‘‡”…‡…Žƒ—•‡’”‘Š‹„‹–•†‹•…”‹‹ƒ–‹‘ƒ‰ƒ‹•–‘—–Ǧ‘ˆǦ•–ƒ–‡‡–‹–‹‡•ȌǤ
38015-ckt_91-3 Sheet No. 43 Side B
‘–Š ƒŽ‹ˆ‘”‹ƒƒ† ‡™‘” ™‡”‡ •’—””‡† –‘ ƒ…– ‘ ƒ……‘—–‘ˆ
’‘Ž‹–‹…ƒŽƒ…–‹˜‹–›„›‘—–Ǧ‘ˆǦ•–ƒ–‡‘”‰ƒ‹œƒ–‹‘•‹–‡”ˆ‡”‹‰™‹–Š‹Ǧ•–ƒ–‡
‡Ž‡…–‹‘•Ǥ ͳͲͶ‹Ž‡…‹‰‘—–Ǧ‘ˆǦ•–ƒ–‡‡††Ž‡”•‹•ƒ•—„•–ƒ–‹ƒŽŽ›ƒ””‘™Ǧ
‡”Ȅƒ† ‘”‡ ’ƒ”‘…Š‹ƒŽȄ‰‘ƒŽ –Šƒ ƒ††”‡••‹‰ ‹‡“—ƒŽ‹–› ‹ ’‘Ž‹–‹…ƒŽ
•’‡†‹‰Ǥ ‘•‡“—‡–Ž›ǡ ƒ ƒ””‘™ •‘Ž—–‹‘ ƒ‹‡† ƒ– …”‡ƒ–‹‰ Š—”†Ž‡•
ˆ‘” ‘—–Ǧ‘ˆǦ•–ƒ–‡ ‹•–‹–—–‹‘• –‘ ’ƒ”–‹…‹’ƒ–‡ ‹ •–ƒ–‡ ‡Ž‡…–‹‘• …‘—Ž† „‡
•—ˆˆ‹…‹‡––‘ƒ††”‡••–Š‡‘„Œ‡…–‹˜‡ǤŽ‹‡–Š‡„”‘ƒ†‡”‰‘ƒŽ‘ˆ‡“—ƒŽ‹œǦ
‹‰ ’‘Ž‹–‹…ƒŽ ’‘™‡”ǡ •–ƒ–‡ Žƒ™ •‘Ž—–‹‘• ƒ‡ •‡•‡ ™Š‡ –Š‡ ‰‘ƒŽ ‹•
†‡ˆ‹‡†ƒ••–ƒ–‡•’”‘–‡…–‹‰–Š‡•‡Ž˜‡•ˆ”‘—‹“—‡‹Œ—”‹‡•–Šƒ–‘–Š‡”
•–ƒ–‡•†‘‘–•Šƒ”‡Ǥ•–ƒ–‡‹‰Š–Šƒ˜‡ƒŽ‡‰‹–‹ƒ–‡‹–‡”‡•–‹’”‘–‡…–Ǧ
‹‰ ‹–• ‘™ …‹–‹œ‡• ˆ”‘ ‘—–Ǧ‘ˆǦ•–ƒ–‡ †ƒ‰‡”• „› ‡•—”‹‰ –Šƒ– ‘Ž›
‰”‘—’•ƒ†‹†‹˜‹†—ƒŽ•™‹–ŠŽ‡‰‹–‹ƒ–‡‹–‡”‡•–•‹ˆŽ—‡…‡‹Ǧ•–ƒ–‡‡Ž‡…Ǧ
–‹‘•Ǥ
‘™‡˜‡”ǡ †‡ˆ‹‹‰ –Š‡ ’‘Ž‹…› –Š‹• ™ƒ› ‹• ƒŽ•‘ Ž‡‰ƒŽŽ› …ŠƒŽŽ‡‰‹‰Ǥ
‹‡‘”‡ƒ„‹–‹‘—•’‘™‡”Ǧ‡“—ƒŽ‹œ‹‰’”‘’‘•ƒŽ•ǡ–Š‡‘•–”‘„—•–•‘Ǧ
Ž—–‹‘• –‘ –Š‡ ’”‘„Ž‡ ‘ˆ ‘—–•‹†‡ ‹–‡”Ž‘’‡”•ȄŽ‹‡ •‹Ž‡…‹‰ ‘—–Ǧ‘ˆǦ
•–ƒ–‡ ˜‘‹…‡• ƒŽ–‘‰‡–Š‡”Ȅ™‘—Ž† ˆƒ…‡ •—„•–ƒ–‹ƒŽ …‘•–‹–—–‹‘ƒŽ ’”‘„Ǧ
Ž‡•Ǥ ͳͲͷ‡‹–Š‡”‡™‘”‘”ƒŽ‹ˆ‘”‹ƒ‹’‘•‡•Š‡ƒ˜‹‡”„—”†‡•‘
‘—–Ǧ‘ˆǦ•–ƒ–‡‘”‰ƒ‹œƒ–‹‘•–Šƒ‹–†‘‡•‘‹Ǧ•–ƒ–‡‘”‰ƒ‹œƒ–‹‘•ǡƒ†‹–
™‘—Ž†Ž‹‡Ž›„‡—…‘•–‹–—–‹‘ƒŽ‹ˆ–Š‡›†‹†Ǥ‡˜‡”–Š‡Ž‡••ǡ•–ƒ–‡•…‘—Ž†
Ž‡‰‹–‹ƒ–‡Ž› ”‡†—…‡ǡ •Ž‘™ǡ ‘” ”‡˜‡ƒŽ ‹Ǧ•–ƒ–‡ ‡Ž‡…–‹‘‡‡”‹‰ „› ‘—–Ǧ‘ˆǦ
•–ƒ–‡ •’‡ƒ‡”• „› ˆ‘ŽŽ‘™‹‰ –Š‡ ”‘—–‡ –Šƒ– ƒŽ‹ˆ‘”‹ƒ ƒ† ‡™ ‘”
Šƒ˜‡ „‘–Š –ƒ‡Ǥ Š‡‹” ‡™ ”—Ž‡• ”‡“—‹”‡ ”‡‰‹•–”ƒ–‹‘ǡ ”‡’‘”–‹‰ǡ ƒ†
†‹•…Ž‘•—”‡ˆ‘”ƒŽŽ‘”‰ƒ‹œƒ–‹‘•Ǥ‘•–•…‘—–ǡ†‹•…Ž‘•—”‡…ƒ„‡‡„ƒ”Ǧ
”ƒ••‹‰ǡ ƒ† •‘‡ ‘”‰ƒ‹œƒ–‹‘• ‹‰Š– „‡ Ž‡••‹…Ž‹‡† –‘ ‹–‡”ˆ‡”‡‹
‡Ž‡…–‹‘•™Š‡–Š‡‹”’‘–‡–‹ƒŽ‹ˆŽ—‡…‡…‘‡•ƒ–ƒŠ‡ƒ˜›…‘•–‘ˆ…‘Ǧ
38015-ckt_91-3 Sheet No. 44 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻͳ͵
’Ž‹ƒ…‡ ƒ† –”ƒ•’ƒ”‡…›Ǥ ͳͲ͸ ‡…ƒ—•‡ ‘”‰ƒ‹œƒ–‹‘• ”‡ƒ•‘ƒ„Ž› ‘„Œ‡…–
–‘ –Š‡ …‘•– ƒ† ‹…‘˜‡‹‡…‡ ‘ˆ ”‡’‘”–‹‰ ”‡“—‹”‡‡–•ǡ ‹’‘•‹‰
–Š‘•‡…‘•–•…ƒ–Š‡•‡Ž˜‡•„‡ƒŽ‡‰‹–‹ƒ–‡‰‘ƒŽ‘ˆ–Š‡•–ƒ–‡Ǥ ͳͲ͹‹•…Ž‘Ǧ
•—”‡‹•”‡’—–ƒ–‹‘ƒŽŽ›…‘•–Ž›ǡ‡˜‡‹ˆ‘ˆ‹ƒ…‹ƒŽ…‘•–•ƒ”‡‹˜‘Ž˜‡†Ǥ ͳͲͺ
”‡ƒ–‹‰ˆ”‹…–‹‘•‹–Š‡‡Ž‡…–‘”ƒŽ’”‘…‡••‹•ƒŽ‡‰‹–‹ƒ–‡•–ƒ–‡ǦŽƒ™–‘‘Ž
–Šƒ– …ƒ Š‡Ž’ –‘ •‡’ƒ”ƒ–‡ ‹•–‹–—–‹‘• ™‹–Š •—„•–ƒ–‹ƒŽ ‹–‡”‡•–• ‹ ƒ
•–ƒ–‡ǯ•‡Ž‡…–‹‘•ˆ”‘–Š‘•‡™‹–Š‘—–Ǥ
C. Protecting Voters from Fraud
Š‡•–ƒ–‡•Šƒ˜‡ƒ‹–‡”‡•–‹’”‘–‡…–‹‰‹†‹˜‹†—ƒŽ•™Š‘ƒ”‡–Š‡
–ƒ”‰‡–‘ˆ’‘Ž‹–‹…ƒŽ…‘—‹…ƒ–‹‘•ˆ”‘ˆ”ƒ—†Ǥ ͳͲͻƒ…‘ˆ–”ƒ•’ƒ”‡…›
‹’‘Ž‹–‹…ƒŽ†‹•…‘—”•‡…ƒ—•‡†„›–Š‡—•‡‘ˆ‘’ƒ“—‡‘”‰ƒ‹œƒ–‹‘•–‘‹Ǧ
ˆŽ—‡…‡ ˜‘–‡”• ƒ› ”‹•‡ –‘ –Š‡ Ž‡˜‡Ž ‘ˆ †‡ˆ”ƒ—†‹‰ –Š‡ ’—„Ž‹… ‹ˆ †ƒ”
‘‡›‡ƒ„Ž‡•†‡…‡’–‹‘Ǥ–ƒ–‡•Šƒ˜‡ƒŽ‡‰‹–‹ƒ–‡‹–‡”‡•–‹”‡‰—Žƒ–Ǧ
‹‰ …‘—‹…ƒ–‹‘• –Šƒ– ‹˜‘Ž˜‡ ‹••–ƒ–‡‡–• ‘ˆ ˆƒ…– ƒ† ’”‡•‡–ƒǦ
–‹‘ ‘ˆ ‘’‹‹‘ ƒ• –Š‘—‰Š ‹– ™‡”‡ ˆƒ…–Ǥ ‹•”‡’”‡•‡–ƒ–‹‘• ƒ„‘—– ƒ
•’‡ƒ‡”ǯ•ƒ…–—ƒŽ‹–‡”‡•–ƒ›ƒŽ•‘„‡†‡•‹‰‡†–‘‹•Ž‡ƒ†Ǥ‘–‡”•ƒ›
‡””‘‡‘—•Ž› „‡Ž‹‡˜‡ –Šƒ– …‘—‹…ƒ–‹‘• …‘‡ ˆ”‘ …‘…‡”‡† …‹–‹Ǧ
œ‡•ǡ™Š‡–Š‡›ƒ”‡ƒ…–—ƒŽŽ›–Š‡˜‘‹…‡‘ˆ…‘”’‘”ƒ–‡‹–‡”‡•–•ǡƒ†–Š‡‹”
”‡•’‘•‡•ƒ›„‡‹ˆŽ—‡…‡†„›–Š‘•‡„‡Ž‹‡ˆ•ǤͳͳͲ
38015-ckt_91-3 Sheet No. 44 Side A
06/09/2016 10:30:17
ͳͲ͸Ǥ CfǤƒ˜‹†Ǥ…Š‹œ‡”ǡFrictions as a Constraint on Tax PlanningǡͳͲͳǤ Ǥ Ǥͳ͵ͳʹǡ
ͳ͵ͳͷȋʹͲͲͳȌȋDzŠ‡–Š‡”‹‰Š–‹†‘ˆˆ”‹…–‹‘”‡‹ˆ‘”…‡•ƒƒ””‘™”‡ˆ‘”ǡ‡†”—•™‹ŽŽ„‡—Ǧ
…‘‘ǤdzȌǤ
ͳͲ͹Ǥ Seeƒƒ”ƒƒ‡‹•‡”ǡThere Ought to Be a Law: The Disclosure Focus of Recent Legislative Proposals for Nonprofit Reformǡ ͺͲǤǦ Ǥ Ǥ ͷͷͻǡ ͸ͳͳ ȋʹͲͲͷȌȋDzȏȐ‹•…Ž‘•—”‡Ǧ„ƒ•‡†
”‡ˆ‘”••Š‘—Ž†„‡…ƒ”‡ˆ—ŽŽ›…Š‘•‡ƒ†•‡Ž‡…–‹˜‡Ž›ƒ’’Ž‹‡†ǤŠ‡›…ƒ…”‡ƒ–‡•‡”‹‘—•…‘•–•ˆ‘”ȏ–Š‡
‘’”‘ˆ‹–Ȑ •‡…–‘”Ǥ —–ǡ –‘ –Š‡ ‡š–‡– –Š‡•‡ …‘•–• …ƒ „‡ –‘Ž‡”ƒ–‡†ǡ †‹•…Ž‘•—”‡Ǧ„ƒ•‡† ”‡ˆ‘”• –Šƒ–
™‹ŽŽˆƒ…‹Ž‹–ƒ–‡‡ˆ‘”…‡‡–‘ˆ‘’”‘ˆ‹–‘„Ž‹‰ƒ–‹‘•ǡ‘–‹˜ƒ–‡‘’”‘ˆ‹–ˆ‹†—…‹ƒ”‹‡•–‘‘”‡ƒ…–‹˜‡Ǧ
Ž›•‡ŽˆǦ‘‹–‘”ǡ‘”„‘–Šǡ…ƒ‰‡‡”ƒ–‡‹’‘”–ƒ–ƒ†Žƒ•–‹‰ƒ……‘—–ƒ„‹Ž‹–›„‡‡ˆ‹–•ǤdzȌǤ
ͳͲͺǤ Seeƒ”‡†‹Žˆ”‡†ǡShining Light on Dark Money in Campaign FinanceǡǤǤƬ
ǯ
Ǥǡ
Š––’ǣȀȀ‹•’•Ǥ›ƒŽ‡Ǥ‡†—Ȁ‡™•Ȁ„Ž‘‰ȀʹͲͳͶȀͳͳȀ•Š‹‹‰ǦŽ‹‰Š–Ǧ‘Ǧ†ƒ”Ǧ‘‡›Ǧ‹Ǧ
…ƒ’ƒ‹‰Ǧˆ‹ƒ…‡͓Ǥ“ʹ”ȋŽƒ•–˜‹•‹–‡†ƒ”Ǥͳ͸ǡʹͲͳ͸ȌȋDzˆ–‡”Citizens Unitedǡ…‘”’‘”ƒ–‹‘•
‰ƒ‹‡† –Š‡ Ž‡‰ƒŽ ƒ„‹Ž‹–› –‘ •’‡† —Ž‹‹–‡† •—•ǡ„—– ™‹–Š ”‡’—–ƒ–‹‘ƒŽ ”‹•Ǥ ˆ †‹•…Ž‘•‡†ǡ •Šƒ”‡Ǧ
Š‘Ž†‡”•ǡ…—•–‘‡”•ƒ†‡’Ž‘›‡‡•‹‰Š–‡ƒ…Š‘„Œ‡…––‘ƒ…‘”’‘”ƒ–‹‘ǯ•’‘Ž‹–‹…ƒŽƒ…–‹˜‹–›ǤdzȌǤ
ͳͲͻǤ —”•‘ ˜Ǥ ”‡‡ƒǡ ͷͲͶ ǤǤ ͳͻͳǡ ͳͻͻ ȋͳͻͻʹȌ ȋDzȏȐ –ƒ–‡ Šƒ• ƒ …‘’‡ŽŽ‹‰ ‹–‡”‡•– ‹
‡•—”‹‰–Šƒ–ƒ‹†‹˜‹†—ƒŽǯ•”‹‰Š––‘˜‘–‡‹•‘–—†‡”‹‡†„›ˆ”ƒ—†‹–Š‡‡Ž‡…–‹‘’”‘…‡••ǤdzȌǤ
‘” ‡šƒ’Ž‡ǡ ƒ› •–ƒ–‡• Šƒ˜‡ –”‹‡† –‘ ”‡‰—Žƒ–‡ ˆƒŽ•‡ …ƒ’ƒ‹‰ ƒ†˜‡”–‹•‡‡–•Ǥ Ž–Š‘—‰Š –Š‹•
Ž‡ƒ†•–‘’‘–‡–‹ƒŽ‹”•–‡†‡–‹••—‡•ǡ‹–‹•’‘••‹„Ž‡–Šƒ–ƒƒ””‘™Ž›–ƒ‹Ž‘”‡†Žƒ™…‘—Ž†’ƒ••
…‘•–‹–—–‹‘ƒŽ•…”—–‹›ƒ†’”‘–‡…–˜‘–‡”•ǤSee–ƒ…‹‹‡ˆˆ”‹‰ǡ‘–‡ǡFirst Amendment and the Right
to Lie: Regulating Knowingly False Campaign Speech After ‹–‡†–ƒ–‡•˜ǤŽ˜ƒ”‡œǡͻ͹ǤǤǤ
ͳͲͶ͹ǡͳͲͷ͸Ȃ͸ͳǡͳͲ͹ͺȋʹͲͳ͵ȌǤ
ͳͳͲǤ See ƒ˜‹† ƒ”Ž‡›ǡ Donors and Charities Need Protection as Secret Political Spending
GrowsǡǤȋƒǤͳ͵ǡʹͲͳ͵Ȍǡ
Š––’•ǣȀȀ’Š‹Žƒ–Š”‘’›Ǥ…‘Ȁƒ”–‹…Ž‡Ȁ‘‘”•Šƒ”‹–‹‡•Ǧ‡‡†Ȁͳͷͷ͸ͳͷ ȋDzŠ‡ ‡™ ”‡‰—Žƒ–‹‘• ™‹ŽŽ
ƒ‡‡™‘”ǯ•‡Ž‡…–‹‘•–”ƒ•’ƒ”‡–„›‹ˆ‘”‹‰˜‘–‡”•ƒ„‘—–™Š‘‹••’‡†‹‰–‘‹ˆŽ—‡…‡
–Š‡‹”˜‘–‡•ǤdzȌǤ
38015-ckt_91-3 Sheet No. 44 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻͳͶ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
38015-ckt_91-3 Sheet No. 44 Side B
Š‹Ž‡ ‡ˆˆ‡…–‹˜‡Ž› ‡•—”‹‰ ‡Ž‡…–‹‘ ‹–‡‰”‹–› ’”‘„ƒ„Ž› ”‡“—‹”‡• ƒ
„”‘ƒ†ˆ‡†‡”ƒŽ•‘Ž—–‹‘ǡ•–ƒ–‡•Šƒ˜‡Ž‘‰„‡‡‹–Š‡„—•‹‡••‘ˆ’”‘•‡Ǧ
…—–‹‰ˆ”ƒ—†ǡ•‘–Š‡›ƒ›„‡‹ƒ’‘•‹–‹‘–‘…‘–”‹„—–‡—•‡ˆ—Ž‡ˆ‘”…‡Ǧ
‡–Ǥ Š‡–Š‡” ƒ ‡Ž‡‡– ‘ˆ •–ƒ–‡ ‘” ˆ‡†‡”ƒŽ Žƒ™ǡ ’”‘–‡…–‹‰ ˜‘–‡”•
ˆ”‘ˆ”ƒ—†‹•ƒ„‘—–’‘Ž‹–‹…ƒŽ‹–‡‰”‹–›ǡ ͳͳͳ•‘‡Ž‡…–‹‘Žƒ™‹•–Š‡‘„˜‹‘—•
’Žƒ…‡ –‘ •‹–—ƒ–‡ ‹–ǡ ‘– ‘’”‘ˆ‹–• Žƒ™Ǥ —– ‘’”‘ˆ‹–• Žƒ™ ƒ› „‡ ƒ
ƒ––”ƒ…–‹˜‡Ž‘…—•‹ˆ‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•ƒ”‡’”‹ƒ”‹Ž›–Š‡‘‡•„‡‹‰
”‡‰—Žƒ–‡†ǡ‘”‹ˆ–Š‡‹””‡‰—Žƒ–‹‘‹•’ƒ”–‹…—Žƒ”Ž›‹’‘”–ƒ–Ǥ‘•‡“—‡–Ž›ǡ
™Š‡–Š‡”‹–Š‡‹”‘’”‘ˆ‹–Ǧ”‡‰—Žƒ–‘””‘Ž‡‘”„”‘ƒ†‡”ˆ”ƒ—†Ǧ’”‡˜‡–‹‘
”‘Ž‡ǡ•–ƒ–‡ƒ––‘”‡›•‰‡‡”ƒŽƒ›„‡ƒ’’”‘’”‹ƒ–‡‡ˆ‘”…‡”•‘ˆƒ’‘Ž‹…›
–‘’”‘–‡…–˜‘–‡”•ˆ”‘ˆ”ƒ—†Ǥ
–ƒ–‡• …‘—Ž†—•‡ ƒ ˜ƒ”‹‡–› ‘ˆ –‘‘Ž• –‘ƒ††”‡•• –Š‹• ’‘Ž‹…› ‰‘ƒŽǤ Ǧ
…”‡ƒ•‡† ”‡‰—Žƒ–‹‘ ‘ˆ ‘”‰ƒ‹œƒ–‹‘• –Šƒ–‡‰ƒ‰‡ ‹ ’‘Ž‹–‹…ƒŽ …‘—‹Ǧ
…ƒ–‹‘•ƒ›„‡ƒ’’”‘’”‹ƒ–‡Ǥ”‘–‡…–‹‰˜‘–‡”•ˆ”‘ˆ”ƒ—†ƒ›”‡“—‹”‡
’—„Ž‹…†‹•…Ž‘•—”‡‘ˆ‹ˆ‘”ƒ–‹‘ƒ„‘—–‡š’‡†‹–—”‡•ƒ†‡„›‘”‰ƒ‹œƒǦ
–‹‘•ǡƒ•™‡ŽŽƒ•–Š‡•‘—”…‡‘ˆƒ‘”‰ƒ‹œƒ–‹‘ǯ•ˆ—†•Ǥ–ƒ–‡•…‘—Ž†‹Ǧ
…”‡ƒ•‡ –”ƒ•’ƒ”‡…› ™‹–Š‘—– •‹Ž‡…‹‰ ƒ› ˜‘‹…‡•ǡ ‘ ƒ––‡” ™Š‡”‡
–Š‡› …‘‡ ˆ”‘ǡ „› ”‡“—‹”‹‰ ‘”‡ ‹ˆ‘”ƒ–‹‘ ƒ„‘—– ’‘Ž‹–‹…ƒŽ …‘Ǧ
—‹…ƒ–‹‘•ƒ†‘”‰ƒ‹œƒ–‹‘•‡‰ƒ‰‡†‹–Š‡Ǥ˜‡†‹•…Ž‘•—”‡‘Ž›
–‘–Š‡•–ƒ–‡ǡƒ†‘––Š‡’—„Ž‹…ǡƒŽŽ‘™••‘‡‘˜‡”•‹‰Š–ǤŠƒ–ƒ’’”‘ƒ…Š
ƒ›„‡–Š‡Ž‡ƒ•–”‡•–”‹…–‹˜‡ȋˆ”‘ƒ‹”•–‡†‡–’‡”•’‡…–‹˜‡Ȍǡ„—–
‹– …‘—Ž† ’‘–‡–‹ƒŽŽ› ƒŽŽ‘™ ‹•Ž‡ƒ†‹‰ …‘—‹…ƒ–‹‘• –‘ •™ƒ› ˜‘–‡”•
™Š‘ƒ”‡‘Ž›’ƒ”–‹ƒŽŽ›‹ˆ‘”‡†Ǥ
”‘–‡…–‹‰ ˜‘–‡”• ˆ”‘ ˆ”ƒ—† ƒ› ƒ††‹–‹‘ƒŽŽ› ”‡“—‹”‡ ’”‘•‡…—Ǧ
–‹‘• ‘ˆ ‹†‹˜‹†—ƒŽ• ƒ† ‘”‰ƒ‹œƒ–‹‘• –Šƒ– Šƒ˜‡ ‡‰ƒ‰‡† ‹ •’‡…‹ˆ‹…
ˆ”ƒ—†—Ž‡– …‘—‹…ƒ–‹‘•Ǥ –ƒ–‡• ƒ› ‡˜‡ —•‡ ‹†‹˜‹†—ƒŽ ’”‘•‡…—Ǧ
–‹‘•ƒ•ƒƒŽ–‡”ƒ–‹˜‡–‘”‡‰—Žƒ–‹‘ǡ…Š‘‘•‹‰–‘’—”•—‡‘”‰ƒ‹œƒ–‹‘•
–Šƒ–‡‰ƒ‰‡‹‹•Ž‡ƒ†‹‰…‘—‹…ƒ–‹‘•ǡ”ƒ–Š‡”–Šƒ‹•–‹–—–‹‰’”‘Ǧ
…‡†—”‡• ‘” †‹•…Ž‘•—”‡• ˆ‘” –Š‡ •‡…–‘” ƒ• ƒ ™Š‘Ž‡Ǥ †‹˜‹†—ƒŽ ’”‘•‡…—Ǧ
–‹‘• ƒ”‡ –‹‡Ǧ…‘•—‹‰ ƒ† ‡š’‡•‹˜‡ǡ „—– –Š‡› ‰—ƒ”ƒ–‡‡ –Š‡
‰”‡ƒ–‡•– …‘•–‹–—–‹‘ƒŽ ’”‘–‡…–‹‘ ˆ‘” ’‘Ž‹–‹…ƒŽ •’‡‡…ŠǤ ”ƒ‹‰ –Š‡
’”‘„Ž‡•‹’Ž›ƒ•ˆ”ƒ—†Ȅƒ†•‘Ž˜‹‰‹–™‹–Š–”ƒ†‹–‹‘ƒŽˆ”ƒ—†’”‘•‡Ǧ
…—–‹‘•Ȅƒ˜‘‹†• –Š‡ ‘•– •‡”‹‘—• …‘•–‹–—–‹‘ƒŽ …‘…‡”• ”ƒ‹•‡† „›
”‡‰—Žƒ–‘”› •‘Ž—–‹‘•Ǥ ‘ ™‹–Š•–ƒ† …‘•–‹–—–‹‘ƒŽ …ŠƒŽŽ‡‰‡ǡ ”‡‰—ŽƒǦ
–‹‘• –‘ ’”‡˜‡– ˆ”ƒ—†—Ž‡– •’‡‡…Š—•– „‡ ƒ””‘™Ž› –ƒ‹Ž‘”‡† ƒ† †‹Ǧ
06/09/2016 10:30:17
ͳͳͳǤ See”ƒ™ˆ‘”†˜Ǥƒ”‹‘–›ǤŽ‡…–‹‘†Ǥǡͷͷ͵ǤǤͳͺͳǡͳͻ͹ȋʹͲͲͺȌȋDzȏȐ—„Ž‹……‘ˆ‹†‡…‡
‹ –Š‡ ‹–‡‰”‹–› ‘ˆ –Š‡ ‡Ž‡…–‘”ƒŽ ’”‘…‡•• Šƒ• ‹†‡’‡†‡– •‹‰‹ˆ‹…ƒ…‡ǡ „‡…ƒ—•‡ ‹– ‡…‘—”ƒ‰‡•
…‹–‹œ‡’ƒ”–‹…‹’ƒ–‹‘‹–Š‡†‡‘…”ƒ–‹…’”‘…‡••ǤdzȌǤ
38015-ckt_91-3 Sheet No. 45 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻͳͷ
”‡…–‡† ’”‡…‹•‡Ž› ƒ– –Šƒ– …‘…‡”Ǥ ͳͳʹ ˆ –‘‘ ‡š’ƒ•‹˜‡ǡ ƒ ”‡‰—Žƒ–‘”› ”‡Ǧ
‰‹‡ ‹• ˜—Ž‡”ƒ„Ž‡ –‘ ƒ ‘˜‡”„”‡ƒ†–Š …ŠƒŽŽ‡‰‡Ǥ —– ”‡Ž›‹‰ •‘Ž‡Ž› ‘
‹†‹˜‹†—ƒŽ ’”‘•‡…—–‹‘• ‹• Ž‹‡Ž› –‘ „‡ Ž‡•• ‡ˆˆ‡…–‹˜‡ –Šƒ …‘’”‡Š‡Ǧ
•‹˜‡”‡‰—Žƒ–‹‘‹•‘Ž˜‹‰–Š‡‡†‡‹…’”‘„Ž‡•‘ˆ†ƒ”‘‡›‹’‘Ž‹Ǧ
–‹…•Ǥ
D. Protecting the Charitable Sector
06/09/2016 10:30:17
ͳͳʹǤ ‹”•–‡†‡–Œ—”‹•’”—†‡…‡ƒ‡•…Ž‡ƒ”–Šƒ–ƒ•—„•–ƒ–‹ƒŽ•–ƒ–‡‹–‡”‡•–…ƒ…—”–ƒ‹Ž
•’‡‡…Šǡ„—–‘Ž›‹ˆ‹–‹•ƒ””‘™Ž›–ƒ‹Ž‘”‡†ǤSee‹–‡†–ƒ–‡•˜Ǥǯ”‹‡ǡ͵ͻͳǤǤ͵͸͹ǡ͵͹͹ȋͳͻ͸ͺȌ
ȋDzȏȐ‡–Š‹‹–…Ž‡ƒ”–Šƒ–ƒ‰‘˜‡”‡–”‡‰—Žƒ–‹‘‹••—ˆˆ‹…‹‡–Ž›Œ—•–‹ˆ‹‡†‹ˆ‹–‹•™‹–Š‹–Š‡…‘•–‹Ǧ
–—–‹‘ƒŽ’‘™‡”‘ˆ–Š‡
‘˜‡”‡–Ǣ‹ˆ‹–ˆ—”–Š‡”•ƒ‹’‘”–ƒ–‘”•—„•–ƒ–‹ƒŽ‰‘˜‡”‡–ƒŽ‹–‡”Ǧ
‡•–Ǣ ‹ˆ –Š‡ ‰‘˜‡”‡–ƒŽ ‹–‡”‡•– ‹• —”‡Žƒ–‡† –‘ –Š‡ •—’’”‡••‹‘ ‘ˆ ˆ”‡‡ ‡š’”‡••‹‘Ǣ ƒ† ‹ˆ –Š‡
‹…‹†‡–ƒŽ”‡•–”‹…–‹‘‘ƒŽŽ‡‰‡†‹”•–‡†‡–ˆ”‡‡†‘•‹•‘‰”‡ƒ–‡”–Šƒ‹•‡••‡–‹ƒŽ–‘–Š‡
ˆ—”–Š‡”ƒ…‡‘ˆ–Šƒ–‹–‡”‡•–ǤdzȌǤ
ͳͳ͵Ǥ See, e.g.ǡ ǯ ǯ Ǥ ǡ ʹȂͶȋʹͲͳͳȌǡ
Š––’ǣȀȀ™™™Ǥƒ‡”‹…ƒ„ƒ”Ǥ‘”‰Ȁ…‘–‡–Ȁ†ƒȀƒ„ƒȀ‡˜‡–•Ȁ–ƒšƒ–‹‘Ȁ–ƒš‹“ǦˆƒŽŽͳͳǦ…Šƒ”‹–ƒ„Ž‡Ǧƒ••‡–•Ǧ
ƒ…–Ǧ’ƒ’‡”Ǥƒ—–Š…Š‡…†ƒǤ’†ˆǤ
ͳͳͶǤ Id.ƒ–ͳǤ
ͳͳͷǤ Seeƒ”Ž‡›ǡsupra‘–‡ͳͳͲȋDzŠ‡”‡‰—Žƒ–‹‘•ƒŽ•‘‰—ƒ”†–Š‡”‡’—–ƒ–‹‘‘ˆ‘’”‘ˆ‹–•–Šƒ–
‡‰ƒ‰‡ ‹ Ž‹––Ž‡ ‘” ‘ ’‘Ž‹–‹…ƒŽ •’‡†‹‰Ǥ Š‡ ‡š’Ž‘•‹‘ ‹ ’‘Ž‹–‹…ƒŽ •’‡†‹‰ „› ƒ ˆ‡™ ͷͲͳȋ…ȌȋͶȌ
‘”‰ƒ‹œƒ–‹‘•ǤǤǤƒ›‹…‹†‡–ƒŽŽ›–ƒ”‹•Š‘–Š‡”‘”‰ƒ‹œƒ–‹‘ǯ•‘’ƒ”–‹•ƒ”‡’—–ƒ–‹‘•ǤdzȌǤ
ͳͳ͸Ǥ See id.
38015-ckt_91-3 Sheet No. 45 Side A
Š‡ˆ‹”•––Š”‡‡‰‘ƒŽ•Ȅ‡“—ƒŽ‹œ‹‰’‘Ž‹–‹…ƒŽ’‘™‡”ǡ“—‹‡–‹‰‘—–Ǧ‘ˆǦ
•–ƒ–‡ ˜‘‹…‡•ǡ ƒ† ’”‘–‡…–‹‰ ˜‘–‡”• ˆ”‘ ˆ”ƒ—†Ȅ…ƒŽŽ ˆ‘”•‘Ž—–‹‘• –Šƒ–
‰‘„‡›‘†–Š‡–”ƒ†‹–‹‘ƒŽ•…‘’‡‘ˆ•–ƒ–‡‘’”‘ˆ‹–Žƒ™Ǥ‘–Š‡…‘–”ƒ”›ǡ
’”‘–‡…–‹‰–Š‡…Šƒ”‹–ƒ„Ž‡•‡…–‘”‹•ƒ…‘”‡•–ƒ–‡‘’”‘ˆ‹–ǦŽƒ™ˆ—…–‹‘ǡ
ƒ† Œ—”‹•†‹…–‹‘ –‘ ”‡‰—Žƒ–‡ ˆƒŽŽ• •“—ƒ”‡Ž› ‘ •–ƒ–‡ …Šƒ”‹–› ”‡‰—Žƒ–‘”•
…‘’ƒ”‡†–‘‡Ž‡…–‹‘Žƒ™”‡‰—Žƒ–‘”•ǡ™Š‡–Š‡”ˆ‡†‡”ƒŽ‘”•–ƒ–‡Ǥ ͳͳ͵ˆ–Š‡
Šƒ”–‘„‡’”‡˜‡–‡†„›”‡‰—Žƒ–‹‘’”‹ƒ”‹Ž›…‘•‹•–•‘ˆ†ƒƒ‰‡–‘–Š‡
…Šƒ”‹–ƒ„Ž‡ •‡…–‘”ǡ –Š‡ •–ƒ–‡ ‘’”‘ˆ‹– Žƒ™ ƒ› ƒ…–—ƒŽŽ› „‡ –Š‡ „‡•–
’Žƒ…‡–‘–”›–‘•‘Ž˜‡–Š‡ȋ…ȌȋͶȌ‡••Ǥ
Š‡ •–ƒ–‡• ‹‰Š– –”‡ƒ– ’”‘–‡…–‹‰ –Š‡ …Šƒ”‹–ƒ„Ž‡ •‡…–‘” ƒ• ƒ ‹Ǧ
’‘”–ƒ– ’‘Ž‹…› ‰‘ƒŽ „‡…ƒ—•‡ –Š‡ …Šƒ”‹–ƒ„Ž‡•‡…–‘” ’”‘˜‹†‡• ˜‹–ƒŽ •‘…‹ƒŽ
‰‘‘†•ǡƒ†’—„Ž‹……‘ˆ‹†‡…‡‹•‡›–‘–Š‡•‡…–‘”ǯ•ƒ„‹Ž‹–›–‘”ƒ‹•‡ˆ—†•
ƒ†‘’‡”ƒ–‡‡ˆˆ‡…–‹˜‡Ž›Ǥ ͳͳͶ–ƒ–‡••Š‘—Ž†…ƒ”‡ƒ„‘—–™Š‡–Š‡”‘’”‘ˆ‹–
‘”‰ƒ‹œƒ–‹‘• ‡‰ƒ‰‡ ‹ ‹•Ž‡ƒ†‹‰ ’‘Ž‹–‹…ƒŽ ƒ…–‹˜‹–› „‡…ƒ—•‡ ƒŽŽ ‘Ǧ
’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•ƒ”‡ƒˆˆ‡…–‡†„›–Š‡„‡Šƒ˜‹‘”‘ˆƒˆ‡™Ǥ ͳͳͷŠ‡”‡’—Ǧ
–ƒ–‹‘ ‘ˆ –Š‡ •‡…–‘” †‡’‡†• ‘ –Š‡ ‹’”‡••‹‘• ‘ˆ –Š‡ •‡…–‘” ƒ•
™Š‘Ž‡Ȅ™Š‡–Š‡” ‹– ‘’‡”ƒ–‡• ™‹–Š ‹–‡‰”‹–›ǡ ƒ† ™Š‡–Š‡” ‹– ‡ƒ”• –Š‡
’—„Ž‹…ǯ•–”—•–Ǥ ͳͳ͸†‹˜‹†—ƒŽ„ƒ†ƒ…–‘”•…ƒ–ƒ‹––Š‡™Š‘Ž‡•‡…–‘”ǯ•”‡’Ǧ
—–ƒ–‹‘Ǥ–ƒ–‡ƒ––‘”‡›•‰‡‡”ƒŽƒ”‡Œ—•–‹ˆ‹‡†‹„‡Ž‹‡˜‹‰–Šƒ––Š‡‡Ž‡…Ǧ
–‹‘‡‡”‹‰ƒ…–‹˜‹–‹‡•‘ˆ•‘…‹ƒŽ™‡Žˆƒ”‡‘”‰ƒ‹œƒ–‹‘•–Š”‡ƒ–‡–‘–ƒ”‹•Š
38015-ckt_91-3 Sheet No. 45 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻͳ͸
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
06/09/2016 10:30:17
ͳͳ͹Ǥ Seesupra ‘–‡ͳ͹ƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
ͳͳͺǤ Seeƒ—”ƒƒ—†‡”•ǡIs Your Political Donation Deductible?ǡ Ǥ Ǥȋ‡’–ǤʹͺǡʹͲͳʹȌǡ
Š––’ǣȀȀ™™™Ǥ™•ŒǤ…‘Ȁƒ”–‹…Ž‡•ȀͳͲͲͲͲͺ͹ʹ͵ͻ͸͵ͻͲͶͶͶͷͶͻʹͲͶͷ͹ͺͲʹʹʹͲͳͶʹͷʹͲͷ͹͵ͺ
ȋ‰‹˜‹‰
–Š‡ ƒ† ƒ• ‡šƒ’Ž‡• ‘ˆ ‘”‰ƒ‹œƒ–‹‘• –Šƒ– Šƒ˜‡ ƒ ‡†—…ƒ–‹‘ƒŽ …Šƒ”‹–› …‘’‘‡–
™Š‹…Š‹•†‡†—…–‹„Ž‡ƒ†ƒƒ…–‹˜‹•–•‘…‹ƒŽ™‡Žˆƒ”‡‘”‰ƒ‹œƒ–‹‘™Š‹…Š‹•‘–†‡†—…–‹„Ž‡ȌǤ
ͳͳͻǤ  ʹͲͳͲǡ ‘Ž› ͵ͲǤͳΨ ‘ˆ –ƒš —‹–• ‹–‡‹œ‡† †‡†—…–‹‘•ǡ ‘•– ‘ˆ –Š‡ Š‹‰ŠǦ‹…‘‡Ǥ See
‡Œƒ‹Ǥƒ””‹•Ƭƒ‹‡Žƒ‡ƒǡWho Itemizes Deductions?ǡ ͵ͶͷȋƒǤͳ͹ǡʹͲͳͳȌǡ
Š––’ǣȀȀ™™™Ǥ–ƒš’‘Ž‹…›…‡–‡”Ǥ‘”‰Ȁ’Ž‘ƒ†‡†ȀͳͲͲͳͶͺ͸ǦŠ‘Ǧ–‡‹œ‡•Ǧ‡†—…–‹‘•Ǥ’†ˆǤ
ͳʹͲǤ See Ǥǡ͸ͲȋͳͻͺͺȌǤ
ͳʹͳǤ ‡”› Ǥ ƒ•ƒǡ The Role of Nonprofit Enterpriseǡ ͺͻ ǤǤ ͺ͵ͷǡ ͺͶͶȂͶͷǡ Ͷ͹
ȋͳͻͺͲȌȋ…‘–”ƒ…–ˆƒ‹Ž—”‡–Š‡‘”›‘ˆ‡š‡’–‹‘‰‹˜‡•†‘‘”•…‘ˆ‘”––Šƒ––Š‡‘‡›‹•„‡‹‰—•‡†
ˆ‘”’”‘’‡”’—”’‘•‡•ȌǤ
38015-ckt_91-3 Sheet No. 45 Side B
–Š‡ ŠƒŽ‘ –Šƒ– ƒŽŽ ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘•Ȅ’ƒ”–‹…—Žƒ”Ž› …Šƒ”‹–‹‡•Ȅ”‡Ž›
—’‘ˆ‘”–Š‡‹”˜‡”›‡š‹•–‡…‡ǤŠ‹•‹–‡”‡•–ƒ›„‡–Š‡‘•–…‘’‡ŽŽ‹‰
”‡ƒ•‘–‘Ž‘…ƒ–‡–Š‡”‡‰—Žƒ–‹‘‘ˆ†ƒ”‘‡›‹–Š‡•–ƒ–‡Žƒ™‘ˆ‘Ǧ
’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•Ǥ
’‹ŽŽ‘˜‡”†ƒƒ‰‡–‘–Š‡‡–‹”‡•‡…–‘”‹•ƒŽ‡‰‹–‹ƒ–‡•–ƒ–‡…‘…‡”
„‡…ƒ—•‡–Š‡’—„Ž‹…‰‡‡”ƒŽŽ›ˆƒ‹Ž•–‘ƒ’’”‡…‹ƒ–‡–Š‡†‹•–‹…–‹‘ƒ‘‰
†‹ˆˆ‡”‡–‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•Ǥ ͳͳ͹‡…–‹‘•ͷͲͳȋ…Ȍȋ͵Ȍƒ†ȋ…ȌȋͶȌƒ”‡
„ƒ”‡Ž›†‹•–‹‰—‹•Šƒ„Ž‡–‘‘•–’‡‘’Ž‡ǡƒ†–Š‡…‘ˆ—•‹‘‹•…‘’‘—†Ǧ
‡† „› –Š‡ ˆƒ…– –Šƒ– ƒ› ‘”‰ƒ‹œƒ–‹‘• Šƒ˜‡ ”‡Žƒ–‡† ȋ…Ȍȋ͵Ȍ ƒ† ȋ…ȌȋͶȌ
‘”‰ƒ‹œƒ–‹‘•—†‡”ƒ•‹‰Ž‡—„”‡ŽŽƒǤ ͳͳͺŠ‡‘•–‹’‘”–ƒ–†‹•–‹…Ǧ
–‹‘ „‡–™‡‡ …Šƒ”‹–‹‡• ƒ† ͷͲͳȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘•ǡ –Š‡ ‘Ǧ
†‡†—…–‹„‹Ž‹–› ‘ˆ …‘–”‹„—–‹‘• –‘ ȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘•ǡ ‹• ‘– ƒŽ™ƒ›•
’”‘‹‡– ‘” ”‡Ž‡˜ƒ– –‘ –Š‡ ’—„Ž‹…Ǥ ‡…‹’‹‡–• ‘ˆ ƒ ‡••ƒ‰‡ Šƒ˜‡ ‘
”‡ƒ•‘–‘†‹•–‹‰—‹•Šȋ…Ȍȋ͵Ȍˆ”‘ȋ…ȌȋͶȌ‘”‰ƒ‹œƒ–‹‘•ǡ•‘–Š‡›ƒ”‡—Ǧ
Ž‹‡Ž›–‘‘–‹…‡™Š‡–Š‡”ƒ‘’”‘ˆ‹–ˆ‹–•‹–‘ƒ’ƒ”–‹…—Žƒ”…ƒ–‡‰‘”›Ǥ˜‡
†‘‘”•Ȅ™Š‘•‡…‘–”‹„—–‹‘•ƒ”‡‘Ž›†‡†—…–‹„Ž‡‹ˆ–Š‡‘”‰ƒ‹œƒ–‹‘‹•
ƒ ȋ…Ȍȋ͵ȌȄ‹‰Š– ‘– ’ƒ› —…Š ƒ––‡–‹‘Ǣ –Š‡ –ƒš †‹•–‹…–‹‘ ‹–•‡Žˆ ‹•
‹””‡Ž‡˜ƒ–ˆ‘”–Š‡ƒŒ‘”‹–›‘ˆ–ƒš’ƒ›‡”•ǡ™Š‘ƒ”‡‘Ǧ‹–‡‹œ‡”•Ǥ ͳͳͻ
˜‡ ‹ˆ ’‡‘’Ž‡ ƒ’’”‡…‹ƒ–‡† –Š‡ †‹•–‹…–‹‘ „‡–™‡‡ ȋ…Ȍȋ͵Ȍ ƒ†
ȋ…ȌȋͶȌ‘”‰ƒ‹œƒ–‹‘•ǡ–Š‡•–ƒ–‡•™‘—Ž†•–‹ŽŽ„‡Œ—•–‹ˆ‹‡†‹”‡‰—Žƒ–‹‰–‘
’”‘–‡…– –Š‡ ˜ƒŽ—‡ ‘ˆ –Š‡ ‘’”‘ˆ‹– •‹‰ƒŽǤ ŽŽ ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘•
Šƒ˜‡ƒ‹’”‹ƒ–—”‘ˆŽ‡‰‹–‹ƒ…›ˆ”‘–Š‡‹”‘’”‘ˆ‹–ƒ†–ƒšǦ‡š‡’–
•–ƒ–—•Ǥ ͳʹͲ‹‰ƒŽ‹‰Ž‡‰‹–‹ƒ…›‹•’”‡…‹•‡Ž›–Š‡’‘‹–‘ˆ‘”‰ƒ‹œ‹‰ƒ•ƒ
‘’”‘ˆ‹–ǡ ͳʹͳƒ†–Š‡•–ƒ–‡Šƒ•ƒ‹–‡”‡•–‹‘‹–‘”‹‰ƒ†’”‘–‡…–‹‰
–Šƒ–•‹‰ƒŽˆ‘”–Š‡„‡‡ˆ‹–‘ˆ†‘‘”•ƒ†‘–Š‡”•™Š‘”‡•’‘†–‘‹–Ǥ‡‘Ǧ
’Ž‡™Š‘‘”‰ƒ‹œ‡ȋ…ȌȋͶȌ‘”‰ƒ‹œƒ–‹‘•™‹–Š–Š‡‹–‡–‹‘‘ˆ‹ˆŽ—‡…‹‰
‡Ž‡…–‹‘•‘™–Šƒ–‘’”‘ˆ‹–•–ƒ–—•‹•ƒƒ†˜ƒ–ƒ‰‡–‘–Š‡ǡ…”—…‹ƒŽ–‘
–Š‡‹”•—……‡••‹•‘Ž‹…‹–‹‰†‘ƒ–‹‘•ƒ†‹†‹••‡‹ƒ–‹‰ƒ…‘˜‹…‹‰
‡••ƒ‰‡Ǥ š‡’–‹‘ ‹• ƒ ˜ƒŽ—ƒ„Ž‡ „”ƒ†ǡ ƒ† •–ƒ–‡ ƒ––‘”‡›• ‰‡‡”ƒŽ
ƒ”‡‹–Š‡„‡•–’‘•‹–‹‘–‘†‡ˆ‹‡ƒ†’”‘–‡…––Šƒ–„”ƒ†„‡…ƒ—•‡–Š‡›
38015-ckt_91-3 Sheet No. 46 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻͳ͹
ƒ”‡‹…Šƒ”‰‡‘ˆ†‡ˆ‹‹‰™Šƒ–‹–‹•ǤŠ‹•’‘Ž‹…›‰‘ƒŽŒ—•–‹ˆ‹‡••–ƒ–‡‘Ǧ
’”‘ˆ‹–Žƒ™”‡‰—Žƒ–‹‘ǡ„—––Š‡†‡•‹‰‘ˆ•—…Š”‡‰—Žƒ–‹‘‹•‘–‹‡†‹Ǧ
ƒ–‡Ž›ƒ’’ƒ”‡–Ǥ•†‹•…—••‡†ˆ—”–Š‡”‹’ƒ”–ǡ”‡‰—Žƒ–‹‘‹’—”•—‹–‘ˆ
–Š‹•’‘Ž‹…›…‘—Ž†–ƒ‡–Š‡ˆ‘”‘ˆ†‹•…Ž‘•—”‡‘ˆ’‘Ž‹–‹…ƒŽƒ…–‹˜‹–‹‡•ǡ”‡‰—Ǧ
Žƒ–‹‘ ‘ˆ ƒŽŽ‘™ƒ„Ž‡ ƒ…–‹˜‹–‹‡•ǡ ƒ† ’‘–‡–‹ƒŽŽ› ƒŽ•‘ †‹•…Ž‘•—”‡ ‘ˆ ƒ ‘”Ǧ
‰ƒ‹œƒ–‹‘ǯ•†‘‘”•Ǥ
E. Protecting Nonprofit Donors
06/09/2016 10:30:17
ͳʹʹǤ ƒ”Ž‡›ǡ supra ‘–‡ ͳͳͲ ȋDz‘‘”• –‘ ‘’”‘ˆ‹–• ƒ› „‡ —ƒ™ƒ”‡ –Šƒ– –Š‡ ‘”‰ƒ‹œƒ–‹‘•
…ƒƒ†•‘‡–‹‡•†‘‡‰ƒ‰‡‹’‘Ž‹–‹…ƒŽ•’‡†‹‰ǤdzȌǤ
ͳʹ͵Ǥ Id. ȋDz‘‡ †‘‘”• ƒ› –‘Ž‡”ƒ–‡ ‘” ‡˜‡ ‡…‘—”ƒ‰‡ •—…Š ƒ…–‹˜‹–› ™Š‹Ž‡ ‘–Š‡”• ƒ› ”‡Ǧ
…‘‹ŽǤdzȌǤ
ͳʹͶǤ See ƒ”ƒ ƒŽŽ‘›ǡ A New Transparency: How to Ensure Disclosure from “Mixed-Purpose”
Groups After‹–‹œ‡•‹–‡†ǡͶ͸ǤǤǤǤǤͶʹͷǡͶʹ͸ȋʹͲͳͳȌȋ†‹•…—••‹‰Dz‹š‡†’—”’‘•‡dzͷͲͳȋ…Ȍ
‰”‘—’•‡‰ƒ‰‡†‹„‘–Š‹••—‡ƒ†˜‘…ƒ…›ƒ†…ƒ’ƒ‹‰Ǧ”‡Žƒ–‡†ƒ†˜‘…ƒ…›ȌǤ
ͳʹͷǤ Id.
38015-ckt_91-3 Sheet No. 46 Side A
Š‡•–ƒ–‡ƒŽ•‘Šƒ•ƒŽ‡‰‹–‹ƒ–‡‹–‡”‡•–‹‡•—”‹‰–Šƒ–‘‡›†‘Ǧ
ƒ–‡†ˆ‘”•‘…‹ƒŽ™‡Žˆƒ”‡’—”’‘•‡•ƒ…–—ƒŽŽ›‰‘–‘•—…Š’—”’‘•‡•ǤŠ‡ƒ
†‘‘” ‰‹˜‡• –‘ ƒ …ƒ—•‡Ǧ”‡Žƒ–‡† ‘”‰ƒ‹œƒ–‹‘ǡ Š‡ ƒ› „‡ —ƒ™ƒ”‡ –Šƒ–
–Š‡ ‘”‰ƒ‹œƒ–‹‘ •’‡†• ˆ—†• ‘ …ƒ’ƒ‹‰ ‹–‡”˜‡–‹‘Ǥ ͳʹʹ ‘‘”•
ƒ› „‡ …‘ˆ—•‡† „› –Š‡ ‘’”‘ˆ‹– Žƒ„‡Ž ƒ† †—’‡† ‹–‘ •—’’‘”–‹‰
’‘Ž‹–‹…ƒŽƒ…–‹˜‹–‹‡•–Š‡›†‹†‘–‹–‡†–‘•—’’‘”–Ǥ ͳʹ͵‡…–‹‘ͷͲͳȋ…ȌȋͶȌ
‘”‰ƒ‹œƒ–‹‘• –Šƒ– ƒ…–‹˜‡Ž› ‡‰ƒ‰‡ ‹ ’‘Ž‹–‹…• ‘ˆ–‡ Šƒ˜‡ „Žƒ† ƒ‡•
ƒ† •–ƒ–‡† ’—”’‘•‡• –Šƒ– ƒ”‡ ƒ†‹”ƒ„Ž‡ ƒ†Ȁ‘” ˜ƒ‰—‡Ǥ ͳʹͶ Š‡› ƒŽ•‘
‘ˆ–‡…‘„‹‡’‘Ž‹–‹…ƒŽƒ…–‹˜‹–‹‡•™‹–Š”‡ƒŽ•‘…‹ƒŽ™‡Žˆƒ”‡’—”’‘•‡•ȋ‘”
•–ƒ–‡ –Šƒ– –Š‡› †‘ ‹ ‘”†‡” –‘ „‡ ‡Ž‹‰‹„Ž‡ ˆ‘” ‡š‡’–‹‘ȌǤ ͳʹͷ Š‡ •–ƒ–‡
’‘Ž‹…› –‘ ’”‘–‡…– †‘‘”• ‹• ‹†‡’‡†‡– ‘ˆ –Š‡ •–ƒ–‡ǯ• ‹–‡”‡•– ‹ ’”‘Ǧ
–‡…–‹‰˜‘–‡”•„‡…ƒ—•‡‹–‹•…‘…‡”‡†™‹–Š‡•—”‹‰–Šƒ–†‘‘”•™Š‘
•—’’‘”–’‘Ž‹–‹…ƒŽ‡••ƒ‰‡•ƒ”‡ƒ™ƒ”‡–Šƒ––Š‡‹”…‘–”‹„—–‹‘•ƒ”‡—•‡†
ˆ‘”•—…Š’—”’‘•‡•Ǥ
”‘–‡…–‹‰‘’”‘ˆ‹–†‘‘”•‹•ƒ…‘”‡ˆ—…–‹‘‘ˆ•–ƒ–‡…Šƒ”‹–›Žƒ™ǡ
•‘•–ƒ–‡…Šƒ”‹–›”‡‰—Žƒ–‘”•Šƒ˜‡‰‘‘†”‡ƒ•‘–‘”‡‰—Žƒ–‡‹–Š‹•ƒ”‡ƒ–‘
’”‘–‡…– †‘‘”• –‘ ȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘•Ǥ ‹‡ ’”‘–‡…–‹‰ –Š‡ …Šƒ”‹–ƒ„Ž‡
•‡…–‘”ǡ –Š‹• ’‘Ž‹…› ‰‘ƒŽ ’”‘˜‹†‡• ƒ •–”‘‰ ”‡ƒ•‘ ˆ‘” ƒ††”‡••‹‰ †ƒ”
‘‡›‹’‘Ž‹–‹…•–Š”‘—‰Š•–ƒ–‡‘’”‘ˆ‹–•”‡‰—Žƒ–‹‘ǤŽ‹‡–Š‡’”‘Ǧ
–‡…–‹‘‘ˆ˜‘–‡”•Š‘™‡˜‡”ǡ–Š‡‡›‡…Šƒ‹•ˆ‘”…ƒ””›‹‰‘—––Š‹•‰‘ƒŽ
”‡“—‹”‡•†‹•…Ž‘•—”‡Ȅƒ–ƒƒ’’”‘’”‹ƒ–‡–‹‡Ȅ‘ˆƒ‘”‰ƒ‹œƒ–‹‘ǯ•ƒ…Ǧ
–‹˜‹–‹‡•ƒ†‡š’‡†‹–—”‡•Ǥ
38015-ckt_91-3 Sheet No. 46 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻͳͺ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
Ǥ
ͳʹ͸Ǥ
ͳʹ͹Ǥ
ͳʹͺǤ
ͳʹͻǤ
ͳ͵ͲǤ
See supra‘–‡͸ͺƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
See supra‘–‡͸ͻȂ͹Ͳǡͻ͵ƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
See supra‘–‡ͺͲȂͺ͸ƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
See supra‘–‡ͺͷƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
See supra‘–‡•ͻʹȂͻ͵ƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
06/09/2016 10:30:17
38015-ckt_91-3 Sheet No. 46 Side B
Š‡•‡†‹ˆˆ‡”‡–•–ƒ–‡ ‰‘ƒŽ• ”‡“—‹”‡ †‹ˆˆ‡”‡–”‡‰—Žƒ–‘”› •‘Ž—–‹‘•Ǥ
ˆ’”‘–‡…–‹‰–Š‡’‘Ž‹–‹…ƒŽ’”‘…‡••ƒ†˜‘–‡”•‹•–Š‡‰‘ƒŽǡ–Š‡”‡‰—Žƒ–‹‘
•Š‘—Ž† ”‡“—‹”‡ †‹•…Ž‘•—”‡ ƒ„‘—– ‹†‹˜‹†—ƒŽ• ƒ† …‘”’‘”ƒ–‹‘• „‡Š‹†
‘’ƒ“—‡ ‘”‰ƒ‹œƒ–‹‘•Ǥ  –Š‡ ‘–Š‡” Šƒ†ǡ ’”‘–‡…–‹‰ †‘‘”• ™‘—Ž†
”‡“—‹”‡‘”‡†‹•…Ž‘•—”‡ƒ„‘—–Ȅ‘”•—„•–ƒ–‹˜‡Ž‹‹–•‘Ȅ–Š‡‘”‰ƒ‹Ǧ
œƒ–‹‘ǯ•ƒ…–‹˜‹–‹‡•ƒ†•’‡†‹‰ǡ„—–™‘—Ž†‘–’”‹ƒ”‹Ž›‡‡†–‘”‡˜‡ƒŽ
‹ˆ‘”ƒ–‹‘ƒ„‘—–‘–Š‡”†‘‘”•Ǥ”‘–‡…–‹‰…Šƒ”‹–‹‡•‹•ƒŽ‡••…‘…”‡–‡
‰‘ƒŽǡ•‘–Š‡ƒ–—”‡‘ˆ’—„Ž‹……‘ˆ—•‹‘ƒ†‡š’‡…–ƒ–‹‘™‘—Ž†Šƒ˜‡–‘
„‡ —†‡”•–‘‘† „‡––‡” –‘ †‡•‹‰ ƒ’’”‘’”‹ƒ–‡ ”‡‰—Žƒ–‹‘Ǣ ‹– ‹• ’‘••‹„Ž‡
–Šƒ–‘–Š‹‰•Š‘”–‘ˆƒ„‘Ž‹•Š‹‰–™‘†‹•–‹…––›’‡•‘ˆ‡š‡’–‘”‰ƒ‹œƒǦ
–‹‘•™‘—Ž†”‡ƒŽŽ›™‘”–‘’”‘–‡…–…Šƒ”‹–‹‡•Ǥ
Š‡ ”‡‰—Žƒ–‹‘• ƒ†‘’–‡† „› ƒŽ‹ˆ‘”‹ƒ ƒ† ‡™ ‘” ƒ”‡ ‰‘‘†
‘†‡Ž•ˆ‘”™Šƒ–•–ƒ–‡•‹‰Š–Šƒ˜‡–Š‡’‘™‡”ƒ†–Š‡’‘Ž‹–‹…ƒŽ™‹ŽŽ–‘
†‘Ǥ –ƒ–‡• Šƒ˜‡ ƒ …Š‘‹…‡ „‡–™‡‡ ‡Ž‡…–‹‘ Žƒ™ ƒ† ‘’”‘ˆ‹–• Žƒ™ ‹
ƒ††”‡••‹‰–Š‡†ƒ”‘‡›’”‘„Ž‡ǤŽ‡…–‹‘Žƒ™‹•–Š‡‘•–‘„˜‹‘—•
˜‡Š‹…Ž‡ˆ‘”•–ƒ–‡ǦŽƒ™”‡‰—Žƒ–‹‘„‡…ƒ—•‡•–ƒ–‡•Šƒ˜‡Ž‘‰”‡“—‹”‡†”‡‰Ǧ
‹•–”ƒ–‹‘ƒ†”‡’‘”–‹‰‘ˆ‡š’‡†‹–—”‡•‘•–ƒ–‡‡Ž‡…–‹‘•ǡƒ†–Š‡”‡Ǧ
…‡– ƒ‡†‡–• „—‹Ž† ‘ ƒ ‹ˆ”ƒ•–”—…–—”‡ ƒŽ”‡ƒ†› ‹ ’Žƒ…‡Ǥ
Žƒ…‡‡–‹‡Ž‡…–‹‘Žƒ™•—‰‰‡•–•–Šƒ–„‘–ŠƒŽ‹ˆ‘”‹ƒƒ†‡™‘”
™‡”‡ˆ‘…—•‡†‘ƒ’‘Ž‹–‹…ƒŽǦ‹–‡‰”‹–›‘”˜‘–‡”Ǧ’”‘–‡…–‹‘‰‘ƒŽǤ
˜‡ –Š‘—‰Š ƒŽ‹ˆ‘”‹ƒ ƒ†‘’–‡† …ƒ’ƒ‹‰ ˆ‹ƒ…‡ ”‡‰—Žƒ–‹‘ ƒ•
‡Ž‡…–‹‘Žƒ™ǡ‹–•ˆ‘…—•‘—Ž–‹’—”’‘•‡‘”‰ƒ‹œƒ–‹‘•‹†‹…ƒ–‡•–Šƒ––Š‡
•–ƒ–‡ ™ƒ• ’ƒ”–‹…—Žƒ”Ž› ‹–‡”‡•–‡† ‹ ”‡‰—Žƒ–‹‰ ’‘Ž‹–‹…ƒŽŽ› ƒ…–‹˜‡ •‘…‹ƒŽ
™‡Žˆƒ”‡ ‘”‰ƒ‹œƒ–‹‘•Ǥ ͳʹ͸ ‘–Š •–ƒ–‡•ǯ ”—Ž‡• ”‡˜‡ƒŽ …‘…‡” ˆ‘” †‘‘”•
–‘ …‘˜‡”‡† ‘”‰ƒ‹œƒ–‹‘•„‡…ƒ—•‡ –Š‡› „‘–Š ”‡“—‹”‡ –Šƒ– ‘”‰ƒ‹œƒ–‹‘
”‡‰‹•–”ƒ–•†‹•…Ž‘•‡‹ˆ‘”ƒ–‹‘ƒ„‘—––Š‡‹”•’‡†‹‰Ȅ–Š‡‡›‹–‡‘ˆ
…‘…‡” –‘ †‘‘”•Ǥͳʹ͹ ‡™ ‘” •–ƒ”–‡† •“—ƒ”‡Ž› ™‹–Š‹ –Š‡ Œ—”‹•†‹…Ǧ
–‹‘‘ˆ‘’”‘ˆ‹–”‡‰—Žƒ–‹‘ǡ ͳʹͺƒ†‹–•ˆ‹”•–ƒ––‡’––‘ƒ†‘’–”—Ž‡•ƒ’Ǧ
’Ž‹‡†‘Ž›–‘‘Ǧ…Šƒ”‹–ƒ„Ž‡‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•ǡ ͳʹͻ„—–‹–•—Ž–‹ƒ–‡
ƒ’’”‘ƒ…Š ‹• Ž‡•• –ƒ”‰‡–‡† –‘ –Š‡ ȋ…ȌȋͶȌ ’”‘„Ž‡Ǥͳ͵Ͳ Š‡ ”‡˜‘‡† ‡™
‘””—Ž‡”‡“—‹”‡†–Š‡‘•–‡š–‡•‹˜‡‹ˆ‘”ƒ–‹‘–Šƒ–‹‰Š–„‡”‡Ž‡Ǧ
˜ƒ– –‘ †‘‘”• „› ƒ†ƒ–‹‰ ƒ ’—„Ž‹… •–ƒ–‡‡– ƒ„‘—– „‘–Š –Š‡ –‘–ƒŽ
ƒ‘—–ƒ†–Š‡’‡”…‡–ƒ‰‡‘ˆ‡Ž‡…–‹‘Ǧ”‡Žƒ–‡†‡š’‡†‹–—”‡•ǡƒ•™‡ŽŽƒ•
38015-ckt_91-3 Sheet No. 47 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
STATE LAW SOLUTIONS
ͻͳͻ
ƒ‹–‡‹œ‡†•…Š‡†—Ž‡‘ˆƒŽŽ‡š’‡†‹–—”‡•…‘‡…–‡†–‘‡™‘”‡Ž‡…Ǧ
–‹‘•‘˜‡”̈́ͷͲǤ ͳ͵ͳ‹‰Š‡”–Š”‡•Š‘Ž†•—†‡”–Š‡”—Ž‡•‡˜‡–—ƒŽŽ›ƒ†‘’–Ǧ
‡† „› „‘–Š ‡™ ‘” ƒ† ƒŽ‹ˆ‘”‹ƒ ƒ”‡ Ž‡•• ’”‘–‡…–‹˜‡ ‘ˆ ƒ †‘‘”ǯ•
‹–‡”‡•–‹‹ˆ‘”ƒ–‹‘ƒ„‘—–ƒ‘”‰ƒ‹œƒ–‹‘ǯ•—•‡‘ˆˆ—†•Ǥ ͳ͵ʹ
‹•…Ž‘•—”‡ ”‡‰ƒ”†‹‰ •’‡†‹‰ „› ‘”‰ƒ‹œƒ–‹‘• …ƒ „‡ ƒ’’‡†
‘•– †‹”‡…–Ž› ‘–‘ –Š‡ ’‘Ž‹…› ‰‘ƒŽ ‘ˆ ’”‘–‡…–‹‰ †‘‘”•ǡ „—– •—…Š †‹•Ǧ
…Ž‘•—”‡ƒ›ƒŽ•‘„‡”‡Ž‡˜ƒ––‘’”‘–‡…–‹‰˜‘–‡”•Ǥš’‡†‹–—”‡†‹•…Ž‘Ǧ
•—”‡ ‹†‡–‹ˆ‹‡• …‡”–ƒ‹ ‘”‰ƒ‹œƒ–‹‘• ƒ• ’‘Ž‹–‹…ƒŽ ƒ…–‘”•ǡ ƒ† ‹…”‡ƒ•‡•
–”ƒ•’ƒ”‡…› ƒ„‘—– –Š‘•‡ ‘”‰ƒ‹œƒ–‹‘•ǡ ™Š‹…Š ƒ› …‘–”‹„—–‡ –‘
‰”‡ƒ–‡”’‘Ž‹–‹…ƒŽ‹–‡‰”‹–›Ǥ—–‡š’‡†‹–—”‡†‹•…Ž‘•—”‡ƒŽ‘‡‹•‘–•—ˆˆ‹Ǧ
…‹‡– –‘ ’”‘–‡…– ˜‘–‡”•Ǥ Š‡ •–ƒ–‡ǯ• ‹–‡”‡•– ‹ ’”‘–‡…–‹‰ –Š‡ ’‘Ž‹–‹…ƒŽ
’”‘…‡••ƒ†˜‘–‡”•ƒŽ•‘†‡ƒ†•‹†‡–‹ˆ‹…ƒ–‹‘‘ˆ–Š‡‹†‹˜‹†—ƒŽ•ƒ†
…‘”’‘”ƒ–‹‘• „‡Š‹† –Š‡ †ƒ” ‘‡›Ǥ ƒŽ‹ˆ‘”‹ƒǯ• ‡™ Žƒ™ ™ƒ• †‡Ǧ
•‹‰‡† –‘ ƒ††”‡•• ’”‡…‹•‡Ž› –Š‹• ˜‘–‡”Ǧ’”‘–‡…–‹‘ ‰‘ƒŽǡ ͳ͵͵ „—– ‡™
‘”ǯ•”—Ž‡•…‘–‹—‡–‘ƒŽŽ‘™†ƒ‹•›…Šƒ‹•‘ˆ‘”‰ƒ‹œƒ–‹‘•–‘‘„•…—”‡
–Š‡—Ž–‹ƒ–‡•‘—”…‡‘ˆˆ—†•Ǥ
ˆ –Š‡ ‹–‡†‡† „‡‡ˆ‹…‹ƒ”‹‡• ‘ˆ ‹…”‡ƒ•‡† ”‡‰—Žƒ–‹‘ ƒ”‡ ‘Ž› –Š‡
’—„Ž‹… ‡Ž‡…–‘”ƒ–‡ǡ –Š‡”‡ ‹• ‘ ’ƒ”–‹…—Žƒ” ”‡ƒ•‘ –‘ ”‡‰—Žƒ–‡ –Š”‘—‰Š
‘’”‘ˆ‹–• Žƒ™ ”ƒ–Š‡” –Šƒ ‡Ž‡…–‹‘ Žƒ™Ǥ —– ‹ˆ –Š‡ •–ƒ–‡ǯ• ’‘Ž‹…‹‡• ‡šǦ
–‡†–‘’”‘–‡…–‹‰–Š‡‹–‡‰”‹–›‘ˆ‘’”‘ˆ‹–•„›’”‘–‡…–‹‰†‘‘”•ƒ†
•ƒˆ‡‰—ƒ”†‹‰…Šƒ”‹–‹‡•ǡ•–ƒ–‡‘’”‘ˆ‹–•Žƒ™‹•ƒ‹’‘”–ƒ–ƒ††‹–‹‘ƒŽ
Ž‘…—• ‘ˆ ”‡‰—Žƒ–‹‘Ǥ Š‹• ’ƒ”– ‘™ …‘•‹†‡”• •’‡…‹ˆ‹… ”‡‰—Žƒ–‘”› ƒ’Ǧ
’”‘ƒ…Š‡•ǡƒ†…‘•‹†‡”•Š‘™‡ƒ…Šƒ’’”‘ƒ…Šˆ‹–•–Š‡‰‘ƒŽ•†‡•…”‹„‡†‹
’ƒ”–Ǥ
A. Disclosure
Š‡•‘Ž—–‹‘”‡ˆŽ‡…–‡†‹–Š‡…ƒ’ƒ‹‰ˆ‹ƒ…‡Žƒ™•‘ˆ‡™‘”
ƒ†ƒŽ‹ˆ‘”‹ƒǡƒ†‡†‘”•‡†„›‘–Š‡”•…Š‘Žƒ”•ǡ ͳ͵Ͷ‹•–‘”‡“—‹”‡‰”‡ƒ–‡”ǡ
‘”‡ ’”‘’– †‹•…Ž‘•—”‡ „› ‘”‰ƒ‹œƒ–‹‘• –Šƒ– ‡‰ƒ‰‡ ‹ ’‘Ž‹–‹…‹‰Ǥ
‹•…Ž‘•—”‡ …ƒ ƒ‡ ’‘Ž‹–‹…ƒŽ …‘—‹…ƒ–‹‘• ‘”‡ ‹ˆ‘”ƒ–‹˜‡ ƒ†
Ž‡•• ‹•Ž‡ƒ†‹‰ǡ ƒ† †‹•…Ž‘•—”‡Ȅ”ƒ–Š‡” –Šƒ •—„•–ƒ–‹˜‡ …‘–”‘ŽȄ
•‡‡• –‘ „‡ –Š‡ ŠƒŽŽƒ” ‘ˆ ‘†‡” ”‡‰—Žƒ–‹‘Ǥ ‹•…Ž‘•—”‡ ’”‘Š‹„‹–•
06/09/2016 10:30:17
ͳ͵ͳǤ See supra‘–‡•ͺͺȂͻͲƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
ͳ͵ʹǤ See supra ‘–‡ ͹Ͳ ƒ† ƒ……‘’ƒ›‹‰ –‡š– ȋˆ‘” ƒŽ‹ˆ‘”‹ƒ ’‘Ž‹–‹…ƒŽ ‡š’‡†‹–—”‡• ‘ˆ
̈́ͷͲǡͲͲͲ‹‘‡›‡ƒ”‘”̈́ͳͲͲǡͲͲͲ‘˜‡”ˆ‘—”›‡ƒ”•ȌǢsee also supra‘–‡•ͻ͸Ȃͻ͹ƒ†ƒ……‘’ƒ›‹‰
–‡š–ȋˆ‘”‡™‘”‹†‡’‡†‡–‡š’‡†‹–—”‡•‘ˆ̈́ͷǡͲͲͲ‘”‘”‡ȌǤ
ͳ͵͵Ǥ See supra ‘–‡͸͸ƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
ͳ͵ͶǤ ŽŽ‡ Ǥ ’”‹ŽŽǡ Regulating the Political Speech of Noncharitable Exempt Organizations
After ‹–‹œ‡•‹–‡†ǡͳͲǤǤ͵͸͵ǡͶͲ͵ȂͲͶȋʹͲͳͳȌǢ‘Ž‹˜ƒ—šǡsupra‘–‡ͳͶǡƒ–Ͷ͹ȂͶͻǤ
38015-ckt_91-3 Sheet No. 47 Side A
ͳǤŠ›ƒ†ƒ–‡‹•…Ž‘•—”‡ǫ
38015-ckt_91-3 Sheet No. 47 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻʹͲ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
ʹǤ‹•…Ž‘•—”‡–‘”‘–‡…–‘–‡”•
”‘–‡…–‹‰˜‘–‡”•”‡“—‹”‡•‹†‡–‹ˆ›‹‰–Š‡•‘—”…‡‘ˆ’‘Ž‹–‹…ƒŽ…‘Ǧ
—‹…ƒ–‹‘• „› Ž‘‘‹‰ „‡Š‹† –Š‡ ‘”‰ƒ‹œƒ–‹‘• –Šƒ– ’”‘†—…‡ –Š‘•‡
06/09/2016 10:30:17
ͳ͵ͷǤ ‹–‹œ‡• ‹–‡†˜Ǥ ‡†ǤŽ‡…–‹‘‘ǯǡ ͷͷͺ ǤǤ ͵ͳͲǡ ͵͸ͻȋʹͲͳͲȌ ȋDzŠ‡ ‘—”– Šƒ• ‡šǦ
’Žƒ‹‡† –Šƒ– †‹•…Ž‘•—”‡ ‹• ƒ Ž‡•• ”‡•–”‹…–‹˜‡ ƒŽ–‡”ƒ–‹˜‡ –‘ ‘”‡ …‘’”‡Š‡•‹˜‡ ”‡‰—Žƒ–‹‘• ‘ˆ
•’‡‡…ŠǤdzȌǤ
ͳ͵͸Ǥ Id.ƒ–͵͸͸ȋ“—‘–‹‰—…Ž‡›˜ǤƒŽ‡‘ǡͶʹͶǤǤͳǡ͸Ͷȋͳͻ͹͸Ȍƒ†…‘‡ŽŽ˜Ǥ‡†ǤŽ‡…–‹‘
‘ǯǡͷͶͲǤǤͻ͵ǡʹͲͳȋʹͲͲ͵ȌȌǤ
ͳ͵͹Ǥ Id.ƒ–͵͸͹Ǥ
ͳ͵ͺǤ Id.ƒ–͵͹ͲǤ
38015-ckt_91-3 Sheet No. 47 Side B
‘–Š‹‰ǡ ƒ† ƒ••—‡• –Šƒ– ’‡‘’Ž‡ …ƒ ’”‘…‡•• ‹ˆ‘”ƒ–‹‘ ƒ† ƒ‡
„‡––‡”…Š‘‹…‡•‹ˆ–Š‡›Šƒ˜‡‘”‡‹ˆ‘”ƒ–‹‘Ǥ†‡”Ž›‹‰–Š‡ƒ’’‡ƒŽ‘ˆ
†‹•…Ž‘•—”‡ ”‡‰‹‡• ‹• ƒ ƒ••—’–‹‘ –Šƒ– †‹•…Ž‘•—”‡ ™‹ŽŽ ’”‘†—…‡ ‹Ǧ
ˆ‘”‡† †‡…‹•‹‘• „› –Š‡ ’—„Ž‹…ǡ ™Š‡–Š‡” ƒ• ˜‘–‡”•ǡ †‘‘”•ǡ ‘” •Šƒ”‡Ǧ
Š‘Ž†‡”•Ǥ
˜‡‹ˆ†‹•…Ž‘•—”‡ˆƒ‹Ž•–‘†‡Ž‹˜‡”‘–Š‡’”‘‹•‡‘ˆ‹…”‡ƒ•‹‰ƒ—Ǧ
–‘‘›ˆ‘”‹†‹˜‹†—ƒŽ•ǡ‹–ƒ›„‡ƒ‰‘‘†…Š‘‹…‡ˆ‘””‡‰—Žƒ–‹‰’‘Ž‹–‹…ƒŽ
•’‡‡…Š„‡…ƒ—•‡–Š‡…‘•–‹–—–‹‘ƒŽŠ—”†Ž‡•–‘‘”‡•—„•–ƒ–‹˜‡”‡‰—ŽƒǦ
–‹‘ƒ”‡–‘‘Š‹‰ŠǤ‡‰ƒŽŽ›ǡ†‹•…Ž‘•—”‡‹•Ž‡••˜—Ž‡”ƒ„Ž‡–‘…‘•–‹–—–‹‘ƒŽ
ƒ––ƒ…–Šƒ‘–Š‡””‡‰—Žƒ–‘”›ƒ’’”‘ƒ…Š‡•ǤCitizens Unitedǡ™Š‹…Š’”‡…‹’Ǧ
‹–ƒ–‡† –Š‹•…”‹•‹• ‹ –Š‡ ˆ‹”•– ’Žƒ…‡ „› •–”‹‹‰ †‘™ •—„•–ƒ–‹˜‡ Ž‹‹–•
‘ ‹†‡’‡†‡– •’‡†‹‰ǡ ‡†‘”•‡† •—„•–ƒ–‹ƒŽ †‹•…Ž‘•—”‡ ”‡“—‹”‡Ǧ
‡–•Ǥ ͳ͵ͷ Š‡ ‘—”– ‡š’Žƒ‹‡†ǡ Dzȏ†Ȑ‹•…Žƒ‹‡” ƒ† †‹•…Ž‘•—”‡ ”‡“—‹”‡Ǧ
‡–•ƒ›„—”†‡–Š‡ƒ„‹Ž‹–›–‘•’‡ƒǡ„—––Š‡›Ǯ‹’‘•‡‘…‡‹Ž‹‰‘
…ƒ’ƒ‹‰Ǧ”‡Žƒ–‡† ƒ…–‹˜‹–‹‡•ǡǯ ƒ† Ǯ†‘ ‘– ’”‡˜‡– ƒ›‘‡ ˆ”‘ •’‡ƒǦ
‹‰Ǥǯdz ͳ͵͸ – Š‡Ž† –Šƒ– †‹•…Ž‘•—”‡ ”‡“—‹”‡‡–• •–‡ ˆ”‘ ƒ Ž‡‰‹–‹ƒ–‡
‰‘˜‡”‡–‹–‡”‡•–‹Š‡Ž’‹‰…‹–‹œ‡•ƒ‡‹ˆ‘”‡†…Š‘‹…‡•Ǥ ͳ͵͹ƒ
’ƒ”–‘ˆ–Š‡‘’‹‹‘Œ‘‹‡†„›‡‹‰Š–Œ—•–‹…‡•ǡ–Š‡‘—”–‘–‡†–Š‡’ƒ”–‹…—Ǧ
Žƒ”‡ˆˆ‡…–‹˜‡‡••–Šƒ–†‹•…Ž‘•—”‡‹‰Š–Šƒ˜‡‘…—””‡–’‘Ž‹…›„‡…ƒ—•‡
Dzȏ™Ȑ‹–Š –Š‡ ƒ†˜‡– ‘ˆ –Š‡ –‡”‡–ǡ ’”‘’– †‹•…Ž‘•—”‡ ‘ˆ ‡š’‡†‹–—”‡•
…ƒ’”‘˜‹†‡•Šƒ”‡Š‘Ž†‡”•ƒ†…‹–‹œ‡•™‹–Š–Š‡‹ˆ‘”ƒ–‹‘‡‡†‡†–‘
Š‘Ž†…‘”’‘”ƒ–‹‘•ƒ†‡Ž‡…–‡†‘ˆˆ‹…‹ƒŽ•ƒ……‘—–ƒ„Ž‡ˆ‘”–Š‡‹”’‘•‹–‹‘•
ƒ†•—’’‘”–‡”•Ǥdz ͳ͵ͺ
Š‘‘•‹‰†‹•…Ž‘•—”‡ƒ•–Š‡ˆ‘”‘ˆ”‡‰—Žƒ–‹‘„‡…ƒ—•‡‹–‹•…‘•–‹Ǧ
–—–‹‘ƒŽŽ›•–”‘‰‹’Ž‹‡•‘–Š‹‰ƒ„‘—––Š‡•—„Œ‡…–‘ˆ–Š‡†‹•…Ž‘•—”‡ǡ‘”
‡˜‡–Š‡–ƒ”‰‡–ƒ—†‹‡…‡Ǥ†‹•…Ž‘•—”‡”‡‰‹‡†‡•‹‰‡†–‘’”‘–‡…–˜‘–Ǧ
‡”• ‹‰Š– †‹ˆˆ‡” •—„•–ƒ–‹ƒŽŽ› ˆ”‘ ƒ †‹•…Ž‘•—”‡ ”‡‰‹‡ †‡•‹‰‡† –‘
’”‘–‡…–†‘‘”•‘”…Šƒ”‹–ƒ„Ž‡‘”‰ƒ‹œƒ–‹‘•Ǥ–ƒ–‡•…‘—Ž†—•‡–Š‡‹”‡Ž‡…Ǧ
–‹‘ ‘” ‘’”‘ˆ‹– Žƒ™ –‘ ”‡“—‹”‡ †‹•…Ž‘•—”‡ –Šƒ– ™‘—Ž† ƒ††”‡•• –Š‡•‡
†‹ˆˆ‡”‡–’‘Ž‹…‹‡•Ǥ
38015-ckt_91-3 Sheet No. 48 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻʹͳ
06/09/2016 10:30:17
ͳ͵ͻǤ ǤǤǤǤƬ
Ǥ–‹–Ǥͳ͵ǡȚͻͳǤ͸ȋ‰Ȍȋ”‡’‡ƒŽ‡†ʹͲͳͶȌǤ
ͳͶͲǤ Id.ȚͻͳǤ͸ȋ‰ȌȂȋŠȌǤ
ͳͶͳǤ ǤǤǤǤƬ
Ǥ–‹–ǤͻǡȚ͸ʹͲͲǤͳͲȋ‰ȌȋͳȌȋʹͲͳͷȌǤ
ͳͶʹǤ Ǥ
ǯȚͺͶʹʹ͵ȋ‡•–ʹͲͳͶȌǤ
ͳͶ͵Ǥ –Œ—•–’”‘Š‹„‹–‡†–Š‡ˆ”‘ƒ†‘’–‹‰”‡‰—Žƒ–‹‘•–‘†‡ˆ‹‡’‘Ž‹–‹…‹‰‘”‰ƒ‹œƒ–‹‘•Ǥ
See‘•‘Ž‹†ƒ–‡†’’”‘’”‹ƒ–‹‘•…–ǡʹͲͳ͸ǡ—„ǤǤ‘ǤͳͳͶǦͳͳ͵ǡ†‹˜Ǥǡ–‹–ǤǡȚͳʹ͹ǡͳʹͻ–ƒ–ǤʹʹͶʹǡ
ʹͶ͵͵ȋʹͲͳͷȌǤ
ͳͶͶǤ See ”‘†›Ƭ™‡•ǡsupra‘–‡ͳǤ
38015-ckt_91-3 Sheet No. 48 Side A
…‘—‹…ƒ–‹‘•Ǥ‘‘”†‹•…Ž‘•—”‡–‘–Š‡’—„Ž‹…’”‘–‡…–•–Š‡‡Ž‡…–‘”ƒ–‡
ˆ”‘–Š‡ƒ‘›‹–›–Šƒ–‘’”‘ˆ‹–‹–‡”‡†‹ƒ”‹‡•ƒ‡’‘••‹„Ž‡Ǣ˜‘–Ǧ
‡”•…ƒ–Š‡‹˜‡•–‹‰ƒ–‡™Š‘‹•„‡Š‹†ƒ’ƒ”–‹…—Žƒ”…‘—‹…ƒ–‹‘ƒ†
—•‡–Šƒ–‘™Ž‡†‰‡–‘Œ—†‰‡‹–•…‘–‡–Ǥ‹•…Ž‘•—”‡‘ˆ…‘”’‘”ƒ–‡†‘‘”•
™‘—Ž† Š‡Ž’ ƒ‡ ’”‹˜ƒ–‡ ˆ‹ƒ…‹ƒŽ ‹–‡”‡•–• ‘”‡ –”ƒ•’ƒ”‡–ǡ ƒ†
†‹•…Ž‘•—”‡ ‘ˆ ‹†‹˜‹†—ƒŽ• ƒŽŽ‘™• …‘•‹†‡”ƒ–‹‘ ‘ˆ „‘–Š ˆ‹ƒ…‹ƒŽ ƒ†
‘Ǧˆ‹ƒ…‹ƒŽ‘–‹˜‡•ƒ†‘–Š‡”’”‹˜ƒ–‡‹–‡”‡•–•Ǥ
‘ŽŽ‘™‹‰–Š‡‘†‡Ž‘ˆ•‡…–‹‘ͷʹ͹‘”‰ƒ‹œƒ–‹‘•ƒ†ˆ‡†‡”ƒŽ‡Ž‡…Ǧ
–‹‘Žƒ™†‹•…Ž‘•—”‡”‡“—‹”‡‡–•ǡ•–ƒ–‡•‹‰Š–ƒ†ƒ–‡’—„Ž‹…†‹•…Ž‘Ǧ
•—”‡‘ˆ–Š‡ƒ‡•‘ˆ†‘‘”•–‘‘”‰ƒ‹œƒ–‹‘•–Šƒ–‡‰ƒ‰‡‹’‘Ž‹–‹…‹‰Ǥ
‡™ ‘”ǯ• ”‡˜‘‡† ”—Ž‡ ™ƒ• ƒ ‡šƒ’Ž‡ ‘ˆ –Š‹• ’—„Ž‹…Ǧ‘”‹‡–‡† †‹•Ǧ
…Ž‘•—”‡Ǥ ͳ͵ͻ – ƒ†ƒ–‡† –Šƒ– –Š‡ ––‘”‡› ‡‡”ƒŽ ’‘•– –Š‡ ƒ‡• ‘ˆ
†‘‘”• ‘ ‹–• ™‡„•‹–‡ǡ ƒ„•‡– ƒ •Š‘™‹‰ ‘ˆ Ž‹‡Ž‹Š‘‘† ‘ˆ Šƒ” ˆ”‘
•—…Š †‹•…Ž‘•—”‡Ǥ ͳͶͲ ‘–Š ‡™ ‘” ͳͶͳ ƒ† ƒŽ‹ˆ‘”‹ƒ ͳͶʹ Šƒ˜‡ ƒ†‘’–‡†
–Š‹•ƒ’’”‘ƒ…Š–‘•‘‡‡š–‡–‹–Š‡‹”ˆ‹ƒŽ”—Ž‡•Ǥ—––Š‡”‡‹•‘’ƒ”–‹…Ǧ
—Žƒ” ”‡ƒ•‘ –‘ Šƒ˜‡ ƒ †‘‘”Ǧ†‹•…Ž‘•—”‡ ”—Ž‡ ƒ– –Š‡ •–ƒ–‡ Ž‡˜‡ŽȄ•–ƒ–‡•
‹‰Š– ƒ†‘’– ‹– ‘Ž› „‡…ƒ—•‡ –Š‡ ˆ‡†‡”ƒŽ ‰‘˜‡”‡– Šƒ• ‘–Ǥ ‡†‡”ƒŽ
Ž‡‰‹•Žƒ–‹‘ǡ•—…Šƒ•‡š–‡†‹‰–Š‡•…‘’‡‘ˆ•‡…–‹‘ͷʹ͹‹–•‡Žˆǡ‘”‘†‹ˆ›Ǧ
‹‰•‡…–‹‘ͷͲͳȋ…Ȍ–‘”‡“—‹”‡†‘‘”†‹•…Ž‘•—”‡‘—–•‹†‡ͷͲͳȋ…Ȍȋ͵Ȍ™‘—Ž†
„‡ƒ‘”‡•–”‡ƒŽ‹‡†•‘Ž—–‹‘Ǥ—–‘‰”‡••™‹ŽŽ…Ž‡ƒ”Ž›‘–„‡ƒǦ
†ƒ–‹‰•—…Š†‹•…Ž‘•—”‡ƒ›–‹‡•‘‘Ǥ ͳͶ͵
ˆ •–ƒ–‡• ™‡”‡ –‘ †‹•…Ž‘•‡ †‘‘”• ‘ˆ ’‘Ž‹–‹…‹‰ ‘’”‘ˆ‹–•ǡ –Š‡›
™‘—Ž† ‡‡† –‘ ƒ†‘’– •–ƒ†ƒ”†• ˆ‘” ‹†‡–‹ˆ›‹‰ •—…Š ‘”‰ƒ‹œƒ–‹‘•Ǥ •
†‡–ƒ‹Ž‡†‹˜‡Ž›”‘†›ƒ†ƒ”…—•™‡•ǯ…‘–”‹„—–‹‘–‘–Š‹••›Ǧ
’‘•‹—ǡ–Š‡ǯƒ––‡’––‘‹†‡–‹ˆ›’‘Ž‹–‹…‹‰‘’”‘ˆ‹–•™ƒ•ƒ…‘Ž‘•Ǧ
•ƒŽˆƒ‹Ž—”‡ǡ ͳͶͶ•‘•–ƒ–‡•‹‰Š–„‡”‡–‹…‡––‘”‡’‡ƒ––Šƒ–ƒ––‡’–Ǥ–ƒ–‡•
…‘—Ž† ƒ˜‘‹† …ƒ–‡‰‘”‹œ‹‰ ’‘Ž‹–‹…ƒŽ ‘”‰ƒ‹œƒ–‹‘• „› ”‡“—‹”‹‰ –Šƒ– all
‘…Šƒ”‹–ƒ„Ž‡‘’”‘ˆ‹–•†‹•…Ž‘•‡–Š‡‹”†‘‘”•ǡ”‡‰ƒ”†Ž‡••‘ˆ–Š‡’‘Ž‹–‹Ǧ
…ƒŽƒ…–‹˜‹–‹‡•‘ˆ–Š‡‘”‰ƒ‹œƒ–‹‘ǤŠƒ–ƒ’’”‘ƒ…Š™‘—Ž†ƒ‡‹–—‡…Ǧ
‡••ƒ”› –‘ …”ƒˆ– ƒ †‡ˆ‹‹–‹‘ ‘ˆ ’‘Ž‹–‹…‹‰ǡ „—– ‹– ‹‰Š– •™‡‡’ –‘‘
„”‘ƒ†Ž›Ǥ ˆ ’‘Ž‹–‹…ƒŽ ƒ…–‹˜‹–› Šƒ• ‘˜‡”™Š‡Ž‡† –Š‡ –”ƒ†‹–‹‘ƒŽ •‘…‹ƒŽ
™‡Žˆƒ”‡ˆ—…–‹‘•‘ˆ‘…Šƒ”‹–ƒ„Ž‡‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•ǡ–Š‡•–ƒ–‡•
‹‰Š– –Š‹ –Š‡ ’‘Ž‹…› ™‘”–Š™Š‹Ž‡Ǥ —– ‹– ™‘—Ž† „‡ —†‡•‹”ƒ„Ž‡ –‘
38015-ckt_91-3 Sheet No. 48 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻʹʹ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
CHICAGO-KENT LAW REVIEW
ȏ‘Žͻͳǣ͵
ƒ†‘’– •—…Š ƒ ”‡“—‹”‡‡– ‹ˆ ‹– ™‘—Ž† Šƒ” ‘”‰ƒ‹œƒ–‹‘• ‹˜‘Ž˜‡† ‹
”‡ƒŽ •‘…‹ƒŽ ™‡Žˆƒ”‡ ƒ…–‹˜‹–‹‡•Ǥ –ƒ–‡• ™‘—Ž† ‡‡† –‘ „ƒŽƒ…‡ –Š‡ ƒ†Ǧ
˜ƒ–ƒ‰‡ ‘ˆ †‹•’‡•‹‰ ™‹–Š Ž‹‡Ǧ†”ƒ™‹‰ ƒ‰ƒ‹•– –Š‡ ‘˜‡”„”‘ƒ† ”‡ƒ…Š
‘ˆ•—…Šƒ”‡‰—Žƒ–‹‘Ǥ
‡‰ƒŽŽ›ǡ•—…Š„”‘ƒ††‹•…Ž‘•—”‡‹‰Š–‡…‘—–‡”‰”‡ƒ–‡”’”‘„Ž‡•
–Šƒ‘”‡–ƒ”‰‡–‡††‹•…Ž‘•—”‡…‘‡…–‡†–‘’‘Ž‹–‹…ƒŽ•’‡†‹‰Ǥͳͻͷͺǡ
–Š‡ —’”‡‡ ‘—”– Š‡Ž† –Šƒ– …‘’‡ŽŽ‡† †‹•…Ž‘•—”‡ ‘ˆ –Š‡ ƒ‡• ‘ˆ
‡„‡”•‘ˆƒ…Šƒ’–‡”‘ˆ–Š‡˜‹‘Žƒ–‡†–Š‡ƒ••‘…‹ƒ–‹‘ƒŽ”‹‰Š–•‘ˆ
–Š‘•‡‡„‡”•ǤͳͶͷŠ‡‘—”–…‘…Ž—†‡†–Šƒ––Š‡•–ƒ–‡Šƒ†‘‹–‡”‡•–
‹‘„–ƒ‹‹‰–Š‡ƒ‡•Ǥ ͳͶ͸–ƒ–‡•™‘—Ž†Ž‹‡Ž›‡‡†–‘•Š‘™ƒ…‘””‡ŽƒǦ
–‹‘„‡–™‡‡‘…Šƒ”‹–ƒ„Ž‡‘’”‘ˆ‹–•–ƒ–—•ƒ†‹•Ž‡ƒ†‹‰’‘Ž‹–‹…‹‰
ƒ…–‹˜‹–›‹‘”†‡”–‘ƒ‡–Š‡”‡“—‹•‹–‡…ƒ•‡ˆ‘”ƒŽ‡‰‹–‹ƒ–‡•–ƒ–‡‹–‡”Ǧ
‡•–‹†‹•…Ž‘•—”‡ˆ‘”ƒŽŽ‘”‰ƒ‹œƒ–‹‘•ǤŠƒ–‹–‡”‡•–™‘—Ž†ƒŽ•‘‡‡†–‘
‘—–™‡‹‰Šƒ›†ƒƒ‰‡–‘†‘‘”•ƒ†‘”‰ƒ‹œƒ–‹‘•–Š”‘—‰Š†‹‹‹•Š‡†
ˆ‹ƒ…‹ƒŽ •—’’‘”– ƒ† ‡„‡”•Š‹’Ǥ ͳͶ͹ Ž–‡”ƒ–‹˜‡Ž›ǡ •–ƒ–‡• …‘—Ž† ”‡Ǧ
“—‹”‡†‘‘”†‹•…Ž‘•—”‡‘Ž›ˆ‘”‘…Šƒ”‹–ƒ„Ž‡‘’”‘ˆ‹–•–Šƒ–‡‰ƒ‰‡‹
…‡”–ƒ‹ Ž‡˜‡Ž• ‘ˆ ’‘Ž‹–‹…ƒŽ ƒ…–‹˜‹–›Ǥ ˆ …‘—”•‡ǡ –Šƒ– ƒ’’”‘ƒ…Š ”‡“—‹”‡•
ƒ––‡’–‹‰–Š‡ˆ”ƒ—‰Š–„—•‹‡••‘ˆ…ƒ–‡‰‘”‹œ‹‰‘”‰ƒ‹œƒ–‹‘•Ǥ
͵Ǥ‹•…Ž‘•—”‡–‘”‘–‡…–‘’”‘ˆ‹–•‘‘”•
06/09/2016 10:30:17
ͳͶͷǤ ˜ǤŽƒǤex rel.ƒ––‡”•‘ǡ͵ͷ͹ǤǤͶͶͻǡͶ͸ʹȋͳͻͷͺȌȋDz‡–Š‹–Šƒ––Š‡’”‘†—…–‹‘
‘”†‡”ǡ‹–Š‡”‡•’‡…–•Š‡”‡†”ƒ™‹“—‡•–‹‘ǡ—•–„‡”‡‰ƒ”†‡†ƒ•‡–ƒ‹Ž‹‰–Š‡Ž‹‡Ž‹Š‘‘†‘ˆƒ
•—„•–ƒ–‹ƒŽ”‡•–”ƒ‹–—’‘–Š‡‡š‡”…‹•‡„›’‡–‹–‹‘‡”ǯ•‡„‡”•‘ˆ–Š‡‹””‹‰Š––‘ˆ”‡‡†‘‘ˆƒ••‘Ǧ
…‹ƒ–‹‘ǤdzȌǤ
ͳͶ͸Ǥ Id.ƒ–Ͷ͸ͶȂ͸ͷǤ
ͳͶ͹Ǥ Id.ƒ–ͶͷͻȂ͸ͲǤ
ͳͶͺǤ Seesupra ‘–‡•͹Ͳǡͻ͸Ȃͻ͹ƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
38015-ckt_91-3 Sheet No. 48 Side B
ˆ–Š‡’‘Ž‹…›‰‘ƒŽ„‡Š‹††‹•…Ž‘•—”‡‹•–Š‡’”‘–‡…–‹‘‘ˆ†‘‘”•–‘
•‘…‹ƒŽ ™‡Žˆƒ”‡ ‘”‰ƒ‹œƒ–‹‘•ǡ –Š‡ ƒƒŽ›•‹• —•– ˆ‘…—• ‘ †‹•…Ž‘•—”‡ ‘ˆ
ƒ ‘”‰ƒ‹œƒ–‹‘ǯ• ’‘Ž‹–‹…ƒŽ ƒ…–‹˜‹–›ǡ ƒ† ‘ –Š‡ –‡”• ‘ˆ †‘‘” †‹•…Ž‘Ǧ
•—”‡ƒ•™‡ŽŽǤ‘‘”•‹‰Š–„‡‹–‡”‡•–‡†‹†‘ƒ–‹‰–‘…‘”‡•‘…‹ƒŽ™‡ŽǦ
ˆƒ”‡ ’”‘‰”ƒ• ȋƒ† ‘– ’‘Ž‹–‹…‹‰Ȍ ƒ† ‹‰Š– ƒŽ•‘ „‡ ȋŽ‡‰‹–‹ƒ–‡Ž›Ȍ
‹–‡”‡•–‡†‹”‡ƒ‹‹‰ƒ‘›‘—•™Š‡–Š‡›†‘Ǥ‹•…Ž‘•—”‡ƒ„‘—–ƒ
‘”‰ƒ‹œƒ–‹‘ǯ•‡š’‡†‹–—”‡•‹ˆ‘”•†‘‘”•ƒ„‘—–™Šƒ––Š‡›ƒ”‡ •—’Ǧ
’‘”–‹‰Ǥ‹•…Ž‘•—”‡‘ˆ†‘‘”‹†‡–‹–›ƒŽŽ‘™•–Š‘•‡™Š‘˜ƒŽ—‡ƒ‘›‹Ǧ
–› –‘ Ž‹‹– ‘” –ƒ”‰‡– –Š‡‹” …‘–”‹„—–‹‘• –‘ ƒ˜‘‹† ’—„Ž‹…‹–›Ǥ – ƒŽ•‘
‹ˆ‘”•’‘–‡–‹ƒŽ†‘‘”•‘ˆ–Š‡…‘’ƒ›–Š‡›™‹ŽŽ‡‡’Ǥ
‘–Š‡™‘”ƒ†ƒŽ‹ˆ‘”‹ƒ”‡“—‹”‡–Šƒ–…‘˜‡”‡†‘”‰ƒ‹œƒ–‹‘•
”‡’‘”––Š‡‹”’‘Ž‹–‹…ƒŽ‡š’‡†‹–—”‡•ȋƒ„‘˜‡ƒ–Š”‡•Š‘Ž†Ȍ–‘–Š‡•–ƒ–‡Ǥ ͳͶͺ
‘–Š•–ƒ–‡•ƒŽ•‘”‡“—‹”‡•‘‡†‘‘”†‹•…Ž‘•—”‡Ǥ†‡”ƒŽ‹ˆ‘”‹ƒǯ•‡™
”—Ž‡•ǡ …‘˜‡”‡† ‘”‰ƒ‹œƒ–‹‘• —•– †‹•…Ž‘•‡ DzƒŽŽ †‘‘”• ™Š‘ ‡ƒ”ƒ”
38015-ckt_91-3 Sheet No. 49 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻʹ͵
–Š‡‹” …‘–”‹„—–‹‘• ˆ‘” ’‘Ž‹–‹…ƒŽ ’—”’‘•‡•ǡdz ͳͶͻ ƒ† ‹ˆ ƒ ‘”‰ƒ‹œƒ–‹‘ǯ•
–‘–ƒŽ ’‘Ž‹–‹…ƒŽ •’‡†‹‰ ‡š…‡‡†• ƒ –Š”‡•Š‘Ž†ǡ –Š‡ ‘”‰ƒ‹œƒ–‹‘ —•–
”‡˜‡ƒŽƒŽŽ†‘‘”•™Š‘Šƒ˜‡ƒ†‡…‘–”‹„—–‹‘•‰”‡ƒ–‡”–Šƒ̈́ͳͲͲͲǡ‹
”‡˜‡”•‡ …Š”‘‘Ž‘‰‹…ƒŽ ‘”†‡” —–‹Ž –Š‡ ƒ‘—– •’‡– ‹• ƒ……‘—–‡† ˆ‘”Ǥ
‘”‘”‰ƒ‹œƒ–‹‘•Dzˆ‘”‡†’”‹ƒ”‹Ž›–‘•—’’‘”–‘”‘’’‘•‡ƒ’ƒ”–‹…—Žƒ”
…ƒ†‹†ƒ–‡‘”„ƒŽŽ‘–‡ƒ•—”‡dz–Šƒ–”ƒ‹•‡•‘”‡–Šƒ̈́ͳ‹ŽŽ‹‘ǡƒŽ‹ˆ‘”Ǧ
‹ƒŽƒ™”‡“—‹”‡•–Šƒ––Š‡›†‹•…Ž‘•‡ƒ†ƒ‹–ƒ‹ƒŽ‹•–‘ˆ–Š‡‹”–‘’–‡
†‘‘”•‘ƒ’—„Ž‹…™‡„•‹–‡Ǥ ͳͷͲ
‘‘”• ™Š‘ ƒ”‡ …‘…‡”‡† ƒ„‘—– ƒ‘›‹–› ͳͷͳ ™‹ŽŽ –ƒ‡ –Š‡•‡
‡™ †‹•…Ž‘•—”‡ ”—Ž‡• ‹–‘ ƒ……‘—– ™Š‡ †‡…‹†‹‰ ™Š‡”‡ ƒ† Š‘™ –‘
†‘ƒ–‡–Š‡‹”‘‡›ǤŠ‡•‡†‹•…Ž‘•—”‡”—Ž‡•ƒ›…”‡ƒ–‡ƒ‹…‡–‹˜‡ˆ‘”
†‘‘”• –‘ …Ž‡ƒ”Ž› †‹•–‹‰—‹•Š ™Š‹…Š ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘• ™‹ŽŽ „‡
—•‹‰–Š‡‹”†‘ƒ–‹‘•ˆ‘”’‘Ž‹–‹…ƒŽ’—”’‘•‡•ƒ†™Š‹…Š™‹ŽŽ‘–ǡbefore
ƒ‹‰ƒ†‘ƒ–‹‘Ǥ ͳͷʹ•‘ˆƒ”ƒ•†‘‘”•ƒ›•Šƒ”‡‹–Š‡™‹†‡•’”‡ƒ†
…‘ˆ—•‹‘ –Šƒ– •Š”‘—†• –Š‡ †‹•–‹…–‹‘ „‡–™‡‡ …Šƒ”‹–ƒ„Ž‡ ‘”‰ƒ‹œƒǦ
–‹‘• ƒ† •‘…‹ƒŽ ™‡Žˆƒ”‡‘”‰ƒ‹œƒ–‹‘•ǡ ƒŽ‹ˆ‘”‹ƒǯ• ‡™ †‹•…Ž‘•—”‡ ”‡Ǧ
‰‹‡ƒ›…”‡ƒ–‡ƒ‹…‡–‹˜‡ˆ‘”†‘‘”•–‘‡†—…ƒ–‡–Š‡•‡Ž˜‡•ƒ„‘—–
–Š‡’ƒ”–‹…—Žƒ”‘”‰ƒ‹œƒ–‹‘ǯ••–ƒ–—•ƒ†’‘Ž‹–‹…ƒŽƒ…–‹˜‹–›Ǥ
‘”†‘‘”•™Š‘˜ƒŽ—‡–Š‡‹”ƒ‘›‹–›ǡ–Š‡•‡‹…‡–‹˜‡•‘’‡”ƒ–‡‹
–™‘ ™ƒ›• –Šƒ– ƒ††”‡•• ȋƒŽ„‡‹– ‹ ƒ Ž‹‹–‡† ™ƒ›Ȍ „”‘ƒ†‡” …‘…‡”•
ƒ„‘—–†ƒ”‘‡›Ǥ‹”•–ǡ–Š‡•‡†‘‘”•™‹ŽŽ„‡’—–‘‘–‹…‡–Šƒ–…‡”–ƒ‹
’‘Ž‹–‹…‹‰ƒ…–‹˜‹–‹‡•„›–Š‡”‡…‹’‹‡–‘”‰ƒ‹œƒ–‹‘ƒ›–”‹‰‰‡”ƒ†ƒǦ
–‘”› †‹•…Ž‘•—”‡ ‘ˆ –Š‡ †‘‘”ǯ• ‹†‡–‹–› –‘ –Š‡ ’—„Ž‹…Ǥ ͳͷ͵ Š‹• ‘–‹…‡
38015-ckt_91-3 Sheet No. 49 Side A
06/09/2016 10:30:17
ͳͶͻǤ ‘”†ǡsupra‘–‡͸ʹǡƒ–͵Ͷ͵Ǥ
ͳͷͲǤ Id.ƒ–͵Ͷ͵ȂͶͶǤ
ͳͷͳǤ ‡”‡ƒ•‘–Šƒ–†‘‘”•ƒ›™‹•Š–‘”‡ƒ‹ƒ‘›‘—•‹•–‘ƒ˜‘‹†’‘–‡–‹ƒŽ„ƒ…Žƒ•Š‘”
Šƒ”ƒ••‡–„‡…ƒ—•‡‘ˆ–Š‡‹”•—’’‘”–ˆ‘”…‡”–ƒ‹…ƒ—•‡•Ǥ‘‹…ƒ‘—ǡProposition 8 and the Mormon Church: A Case Study in Donor Disclosureǡͺͳ
Ǥ Ǥ Ǥ ǤʹͳͲͺǡʹͳʹ͸ȂʹͺȋʹͲͳ͵ȌǤŠ‡
‡š–‡–‘ˆ–Š‹•‹†‘ˆ’‘–‡–‹ƒŽ„ƒ…Žƒ•Š™‹ŽŽ‘ˆ…‘—”•‡˜ƒ”›†‡’‡†‹‰‘–Š‡ƒ–—”‡‘ˆ–Š‡‡Ž‡…Ǧ
–‹‘ǡ„—–‘’’‘‡–•™ƒ”–Šƒ–†‹•…Ž‘•—”‡‹•ǡƒ–‹–•…‘”‡ǡDzƒ„‘—–‹†‡–‹ˆ›‹‰’‘Ž‹–‹…ƒŽ‘’’‘‡–•‹
‘”†‡” –‘ •‹Ž‡…‡ –Š‡Ǥdz Ž‡–ƒ ‹–…Š‡ŽŽǡ Donor Disclosure: Undermining the First Amendmentǡ ͻ͸
Ǥ Ǥ Ǥͳ͹ͷͷǡͳ͹͸ʹȋʹͲͳʹȌǤ–Š‡‘–Š‡”‡†‘ˆ–Š‡•’‡…–”—ǡ†‘‘”•ƒ›™‹•Š–‘”‡ƒ‹
ƒ‘›‘—•–‘’”‡˜‡––Š‡‹”‹†‡–‹–›ˆ”‘ƒˆˆ‡…–‹‰–Š‡‡••ƒ‰‡‘”’‘–‡…›‘ˆ–Š‡…‘—‹…ƒ–‹‘Ǥ
SeeŠ‘ƒ•Ǥ†•ƒŽŽǡ’‹‹‘ǡWho Needs a Smoke-Filled Room?: Karl Rove, the Koch Brothers and
the End of Political TransparencyǡǤǤȋ‡’–ǤͻǡʹͲͳͶȌǡ
Š––’ǣȀȀ™™™Ǥ›–‹‡•Ǥ…‘ȀʹͲͳͶȀͲͻȀͳͲȀ‘’‹‹‘Ȁƒ”ŽǦ”‘˜‡Ǧ–Š‡Ǧ‘…ŠǦ„”‘–Š‡”•Ǧƒ†Ǧ–Š‡Ǧ‡†Ǧ‘ˆǦ
’‘Ž‹–‹…ƒŽǦ–”ƒ•’ƒ”‡…›ǤŠ–ŽǤ†•ƒŽŽ†‡–ƒ‹Ž•Š‹•…‘””‡•’‘†‡…‡™‹–Š˜ƒ”‹‘—•‘ˆˆ‹…‹ƒŽ•ƒ–‡”‹…ƒ•
ˆ‘”ƒš‡ˆ‘”ǡ”‘••”‘ƒ†•
ǡ”‡‡†‘‡–™‘”ǡƒ†‘…Š†—•–”‹‡•ǡƒ†…ƒ‘–ˆ‹†ƒ•ƒ–‹•Ǧ
ˆƒ…–‘”› ƒ•™‡”–‘ Š‹•“—‡•–‹‘ǣ DzŠ› ‹•–Š‡”‡ •—…Šƒ …‘’Ž‡š •–”—…–—”‡ ‘ˆ‘”‰ƒ‹œƒ–‹‘•ǫ ‘‡
‡š‹•– ‘Ž› –‘ –”ƒ•ˆ‡” ‘‡›Ǥ ƒ› ‘ˆ –Š‡ ‘”‰ƒ‹œƒ–‹‘• ’”‘˜‹†‡ ‰”ƒ–• –‘ –Š‡ •ƒ‡ ”‡…‹’‹‡–•Ǥ
Šƒ–‹•–Š‡’—”’‘•‡‘ˆ–Š‹•ǫdzId.
ͳͷʹǤ ‘‘”• ™Š‘ ™‹•Š –‘ †‘ƒ–‡ –‘ ’‘Ž‹–‹…ƒŽŽ› ƒ…–‹˜‡ ‘’”‘ˆ‹–• „—– ™Š‘ ™‹•Š –‘ ”‡ƒ‹
ƒ‘›‘—•ƒ›•–‹ŽŽ†‘ƒ–‡—†‡”–Š‡̈́ͳǡͲͲͲ–Š”‡•Š‘Ž†ǡ‘”…Š‘‘•‡‘––‘†‘ƒ–‡ƒ–ƒŽŽǤ
ͳͷ͵Ǥ Š‹•‘–‹…‡‹•–Š‡ˆ‹”•–‡••‡–‹ƒŽ’ƒ”–‘ˆ–Š‡•‘Ǧ…ƒŽŽ‡†Dz…Š‹ŽŽ‹‰‡ˆˆ‡…–dz‘ˆ†‹•…Ž‘•—”‡”—Ž‡•Ǥ
Ž‘›† ‹–‘•Š‹ ƒ›‡”ǡ Disclosures About Disclosureǡ ͶͶ Ǥ Ǥ Ǥ ʹͷͷǡ ʹ͹ͳ ȋʹͲͳͲȌǤ Š‹• ’‘‹–
ƒ••—‡•–Šƒ–†‘‘”•ƒ”‡ƒ™ƒ”‡‘ˆƒ†–ƒ‡‹–‘ƒ……‘—––Š‡’‘–‡–‹ƒŽ•‘…‹ƒŽ…‘•–•‘ˆ…‘–”‹„—–‹‰Ǥ
38015-ckt_91-3 Sheet No. 49 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻʹͶ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
CHICAGO-KENT LAW REVIEW
ȏ‘Žͻͳǣ͵
•Š‘—Ž†…ƒ—•‡–Š‡–‘‹“—‹”‡ˆ—”–Š‡”‹–‘–Š‡’‘Ž‹–‹…ƒŽƒ…–‹˜‹–‹‡•‘ˆ–Š‡
†‘‡‡ ‘”‰ƒ‹œƒ–‹‘ –‘ †‡–‡”‹‡ ™Š‡–Š‡” –Š‘•‡ ƒ…–‹˜‹–‹‡• ™‹ŽŽ –”‹‰‰‡”
†‹•…Ž‘•—”‡Ǥ ͳͷͶ Š‡•‡ …ƒ”‡ˆ—Ž †‘‘”• ™‹ŽŽ †‡ƒ† ‘”‡ –”ƒ•’ƒ”‡…›
ˆ”‘ †‘‡‡ ‘”‰ƒ‹œƒ–‹‘• ƒ• –‘ –Š‡ —Ž–‹ƒ–‡ —•‡ ‘ˆ –Š‡‹” ˆ—†• –‘ „‡
ƒ„Ž‡ –‘ ™‡‹‰Š –Š‡ ’‘–‡–‹ƒŽ …‘•–• ‘ˆ †‹•…Ž‘•—”‡ ƒ‰ƒ‹•– –Š‡ ’‘–‡–‹ƒŽ
„‡‡ˆ‹–‘ˆ…‘–”‹„—–‹‰Ǥ
‡…‘†ǡ –Š‘•‡ †‘‘”• ™Š‘ ‘™ –Šƒ– –Š‡ †‘‡‡ ‘”‰ƒ‹œƒ–‹‘ ‹•
‡‰ƒ‰‡†‹•—„•–ƒ–‹ƒŽ’‘Ž‹–‹…ƒŽƒ…–‹˜‹–›Šƒ˜‡ƒ‹…‡–‹˜‡–‘ƒ‡•—”‡
–Šƒ––Š‡‹”†‘ƒ–‹‘™‹ŽŽ‘–„‡—•‡†ˆ‘”–Š‘•‡’—”’‘•‡•‹‘”†‡”–‘’”‡Ǧ
˜‡–†‹•…Ž‘•—”‡‘ˆ–Š‡‹”‹†‡–‹–›–‘–Š‡’—„Ž‹…Ǥ ͳͷͷŠ—•ǡ–‘–Š‡‡š–‡––Šƒ–
†‘‘”•ƒ”‡–”—Ž›…‘…‡”‡†ƒ„‘—–”‡ƒ‹‹‰ƒ‘›‘—•ǡ–Š‡ƒŽ‹ˆ‘”‹ƒ
”—Ž‡•ƒ›ƒŽ•‘”‡†—…‡–Š‡˜‘Ž—‡‘ˆ†‘ƒ–‹‘•–‘†ƒ”‘‡›‘”‰ƒ‹Ǧ
œƒ–‹‘•Ǥ
ͶǤ‹•…Ž‘•—”‡–‘Š‹‡Ž†Šƒ”‹–‹‡•ˆ”‘ƒ‹–
Š‡ •–ƒ–‡ǯ• ‹–‡”‡•– ‹ ’”‘–‡…–‹‰ –Š‡ …Šƒ”‹–ƒ„Ž‡ •‡…–‘” ‹• ƒ ‘”‡
‹…Š‘ƒ–‡ ‰‘ƒŽ –Šƒ –Š‡ ‘–Š‡”•ǡ ƒ† ”‡‰—Žƒ–‘”› •‘Ž—–‹‘• ƒ”‡ …‘•‡Ǧ
“—‡–Ž›Ž‡••‘„˜‹‘—•Ǥ–ƒ–‡•‹‰Š–’”‘–‡…–…Šƒ”‹–‹‡•„›…”‡ƒ–‹‰ƒ‘”‡
…Ž‡ƒ”†‡Ž‹‡ƒ–‹‘„‡–™‡‡…Šƒ”‹–‹‡•ƒ†‘–Š‡”‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•Ǥ
‹•…Ž‘•—”‡ …ƒ „‡ ’ƒ”– ‘ˆ –Šƒ– •‘Ž—–‹‘ǡ –‘ –Š‡ ‡š–‡– –Šƒ– †‹•…Ž‘•—”‡
‹ˆ‘”• †‘‘”• ƒ† ˜‘–‡”• –Šƒ– ’‘Ž‹–‹…‹‰ ‘’”‘ˆ‹–• ƒ”‡ †‹ˆˆ‡”‡–
ˆ”‘…Šƒ”‹–‹‡•Ǥ
‡“—‹”‹‰†‘‘”†‹•…Ž‘•—”‡™Š‡ƒ‘”‰ƒ‹œƒ–‹‘‡‰ƒ‰‡•‹’‘Ž‹Ǧ
–‹…‹‰ ‰‹˜‡• †‘‘”• ‹…‡–‹˜‡• –‘ •‡‡ –”ƒ•’ƒ”‡…› ˆ”‘ ”‡…‹’‹‡–
‘”‰ƒ‹œƒ–‹‘•Ǥ Š‡•‡ ‹…‡–‹˜‡• ƒ”‡ ‰‘‘† ˆ‘” –Š‡ …Šƒ”‹–ƒ„Ž‡ •‡…–‘” „‡Ǧ
06/09/2016 10:30:17
See‘—ǡsupra‘–‡ͳͷͳǡƒ–ʹͳ͵͵ȋƒ”‰—‹‰–Šƒ–™Š‹Ž‡Dz”‡Žƒ–‹˜‡Ž›‹‘”ƒ†‹‘…—‘—•”‡•’‘•‡•dz
–‘…‘–”‹„—–‘”••—…Šƒ•Dz•‘…‹ƒŽ‘’’”‘„”‹—ƒ†…”‹–‹…‹•ǤǤǤƒ›‘–„‡•—ˆˆ‹…‹‡–Ž›–Š”‡ƒ–‡‹‰–‘
‡–‹–Ž‡ ƒ ‹†‹˜‹†—ƒŽ ‘” ‰”‘—’ –‘ –Š‡ „‡‡ˆ‹– ‘ˆ –Š‡ Šƒ”ƒ••‡– ‡š‡’–‹‘ǡ –Š‡› •–‹ŽŽ ƒ› Ž‘‘
Žƒ”‰‡ ‡‘—‰Š ‹ ƒ ‹†‹˜‹†—ƒŽǯ• …‘•…‹‘—•‡•• –‘ †‡–‡” ’‘Ž‹–‹…ƒŽ ’ƒ”–‹…‹’ƒ–‹‘ —†‡” …‡”–ƒ‹ …‹”Ǧ
…—•–ƒ…‡•dzȌǢcf.‹–‹œ‡•‹–‡†˜Ǥ‡†ǤŽ‡…–‹‘‘ǯǡͷͷͺǤǤ͵ͳͲǡͶͺͲȂͺͷȋʹͲͳͲȌȋŠ‘ƒ•ǡ
Ǥǡ…‘…—””‹‰‹’ƒ”–ƒ††‹••‡–‹‰‹’ƒ”–ȌǤ‘—‹•…ƒ”‡ˆ—Ž–‘’‘‹–‘—–ǡŠ‘™‡˜‡”ǡ–Šƒ–‹–‡”•‘ˆ
–Š‡™Š‘Ž‡‡Ž‡…–‘”ƒ–‡ǡDzȏƒȐ•ƒ‡’‹”‹…ƒŽƒ––‡”ǡ‹–‹•“—‡•–‹‘ƒ„Ž‡™Š‡–Š‡”•—…Š†‡–‡””‡…‡‡ˆˆ‡…–•
ƒ”‡ •‹‰‹ˆ‹…ƒ– ‡‘—‰Š –‘ ”‡•—Ž– ‹ †‡…”‡ƒ•‡† ’‘Ž‹–‹…ƒŽ ’ƒ”–‹…‹’ƒ–‹‘Ǥdz ‘—ǡ supra ‘–‡ ͳͷͳǡ ƒ–
ʹͳ͵͵Ǣ see also ƒ›‡”ǡ supraǡ ƒ– ʹ͹͵Ǥ – ‹• ƒŽ•‘ “—‡•–‹‘ƒ„Ž‡ ™Š‡–Š‡” –Š‹• ƒ••—’–‹‘ Š‘Ž†• –”—‡
‘—–•‹†‡‘ˆƒŠ‘–Ž›…‘–‡•–‡†•‘…‹ƒŽ‹••—‡•—…Šƒ•”‘’‘•‹–‹‘ͺƒ†‡“—ƒŽƒ””‹ƒ‰‡ǤId.ƒ–ʹ͹ͶǤ
ͳͷͶǤ SeeǤǡǤǡǣ
͹ȂͺȋʹͲͲ͹Ȍǡ
Š––’ǣȀȀ™™™Ǥ‹ŒǤ‘”‰Ȁ‹ƒ‰‡•Ȁ’†ˆ̴ˆ‘Ž†‡”Ȁ‘–Š‡”̴’—„•Ȁ‹•…Ž‘•—”‡‘•–•Ǥ’†ˆ ȋ”‡’‘”–‹‰ •—”˜‡› ˆ‹†‹‰
–Šƒ–ƒƒŒ‘”‹–›‘ˆ”‡•’‘†‡–•Dz™‘—Ž†–Š‹–™‹…‡„‡ˆ‘”‡†‘ƒ–‹‰‘‡›dzDzȏ‹Ȑˆ„›…‘–”‹„—–‹‰–‘
ƒ„ƒŽŽ‘–‹••—‡…ƒ’ƒ‹‰›ƒ‡ƒ†ƒ††”‡••™‡”‡”‡Ž‡ƒ•‡†–‘–Š‡’—„Ž‹…„›–Š‡•–ƒ–‡dzȌǤBut see
ƒ›‡”ǡsupra ‘–‡ ͳͷ͵ǡ ƒ– ʹ͹ͺ ȋ…”‹–‹“—‹‰–Š‡ ƒ”’‡–‡” •—”˜‡› ˆ‘” ‘––‡•–‹‰ Dz™Š‡–Š‡” –Š‡”‡Ǧ
•’‘†‡–•™‘—Ž†…Šƒ‰‡–Š‡‹”‰‹˜‹‰’ƒ––‡”•ȏ•‹…Ȑ‹–Š‡ˆƒ…‡‘ˆ•—…Š†‹•…Ž‘•—”‡•ȋƒ•‘’’‘•‡†–‘
•ƒ›‹‰–Šƒ––Š‡›‹‰Š–ȌdzȌǤ
ͳͷͷǤ SeeǤ
ǯȚͺͶʹʹʹȋ‡ȌȋʹȌȋȌȂȋȌȋ‡•–ʹͲͳͶȌǤ
38015-ckt_91-3 Sheet No. 49 Side B
38015-ckt_91-3 Sheet No. 50 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
STATE LAW SOLUTIONS
ͻʹͷ
…ƒ—•‡–Š‡›‡…‘—”ƒ‰‡†‘‘”•–‘‘‹–‘”–Š‡†‹˜‹†‡„‡–™‡‡…Šƒ”‹–‹‡•
ƒ† ‘–Š‡” ‘”‰ƒ‹œƒ–‹‘•Ǥ ‘ –Š‡ ‡š–‡– –Šƒ– •–ƒ–‡• ƒ”‡ …‘…‡”‡† –Šƒ–
…Šƒ”‹–ƒ„Ž‡ ‘”‰ƒ‹œƒ–‹‘•ǯ DzŠƒŽ‘ ‡ˆˆ‡…–dz —†‡•‡”˜‡†Ž› –”ƒ•ˆ‡”• –‘ †ƒ”
‘‡› •‘…‹ƒŽ ™‡Žˆƒ”‡ ‘”‰ƒ‹œƒ–‹‘•ǡ †‹•…Ž‘•—”‡ ”‡‰‹‡• •—…Š ƒ• ƒŽ‹Ǧ
ˆ‘”‹ƒǯ• ’—•Š †‘‘”• –‘ ‹˜‡•–‹‰ƒ–‡ ™Š‡–Š‡” –Šƒ– ŠƒŽ‘ ‹• †‡•‡”˜‡† ‘”
‘–Ǥ
‹•…Ž‘•—”‡ –Š”‘—‰Š •–ƒ–‡ ‘’”‘ˆ‹– Žƒ™Ȅ”ƒ–Š‡” –Šƒ ‡Ž‡…–‹‘
Žƒ™Ȅƒ‡• •‡•‡ ‹ˆ –Š‡ ’—”’‘•‡ ‘ˆ –Š‡ †‹•…Ž‘•—”‡ ”‡“—‹”‡‡– ‹• –‘
†‹•–‹‰—‹•Š …Šƒ”‹–‹‡• ˆ”‘ ‘–Š‡” ‘”‰ƒ‹œƒ–‹‘•Ȅ‡‹–Š‡” ˆ‘” –Š‡ „‡‡ˆ‹–
‘ˆ †‘‘”• –‘ ȋ…Ȍȋ͵Ȍ ƒ† ȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘•ǡ ‘” –‘ ’”‘–‡…– –Š‡ ’—„Ž‹…
”‡’—–ƒ–‹‘ ‘ˆ …Šƒ”‹–ƒ„Ž‡ ‘”‰ƒ‹œƒ–‹‘•Ǥ —””‡– Žƒ™ ‹• …‘ˆ—•‹‰ ƒ†
ˆƒ‹Ž•–‘•‡†ƒ…Ž‡ƒ”‡••ƒ‰‡‘ˆ™Š‹…Š‘”‰ƒ‹œƒ–‹‘•ˆ‹–‹–‘™Šƒ–…ƒ–‡Ǧ
‰‘”›Ǣ ͷͲͳȋ…Ȍȋ͵Ȍ ƒ† ȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘• ”‡•‡„Ž‡ ‘‡ ƒ‘–Š‡” –‘‘
…Ž‘•‡Ž›Ǥ ͳͷ͸ˆ‘Ž›…Šƒ”‹–‹‡•Šƒ˜‡–Š‡’”‹˜‹Ž‡‰‡‘ˆƒ‘›‘—•†‘‘”•ǡ–Š‡
Žƒ™™‹ŽŽˆ‘•–‡”Ž‡••…‘ˆ—•‹‘„‡–™‡‡ȋ…Ȍȋ͵Ȍ•ƒ†ȋ…ȌȋͶȌ•ǡ„‡––‡”’”‘Ǧ
–‡…–‹‰…Šƒ”‹–‹‡•ˆ”‘–Š‡–ƒ‹–‘ˆ’‘Ž‹–‹…‹‰Ǥƒ††‹–‹‘ǡ‹–™‹ŽŽƒ‡
ͷͲͳȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘• „‡––‡” ”‡•‡„Ž‡ ͷʹ͹ ‘”‰ƒ‹œƒ–‹‘•ǡ ™Š‹…Š
‹‰Š–„‡ƒ…Ž‘•‡”ˆ—…–‹‘ƒŽƒ–…Š‘™–Šƒ–ȋ…ȌȋͶȌ•‡‰ƒ‰‡‹•‘—…Š
’‘Ž‹–‹…ƒŽƒ…–‹˜‹–›Ǥƒ††‹–‹‘ƒŽƒ†˜ƒ–ƒ‰‡‘ˆ„”‹‰‹‰ȋ…ȌȋͶȌ•ƒ†ͷʹ͹•
…Ž‘•‡” –‘ ‘‡ ƒ‘–Š‡” ‹• –Šƒ– •—…Šƒ ‘˜‡ ™‹ŽŽ Ž‹‡Ž› ”‡Ž‹‡˜‡ –Š‡ ’”‡•Ǧ
•—”‡‘–Š‡–‘’‘Ž‹…‡–Šƒ–†‹•–‹…–‹‘Ǥ
B. Police Private Benefits in Noncharitable Nonprofits
ͳͷ͸Ǥ ˆ–‡ǡ –Š‡ •ƒ‡ ‘”‰ƒ‹œƒ–‹‘ ™‹ŽŽ Šƒ˜‡ „‘–Š ȋ…Ȍȋ͵Ȍ ƒ† ȋ…ȌȋͶȌ „”ƒ…Š‡•Ǥ See ƒ—†‡”•ǡ
supra‘–‡ͳͳͺǤ
06/09/2016 10:30:17
38015-ckt_91-3 Sheet No. 50 Side A
—„Ž‹… †‹•…Ž‘•—”‡ ‘ˆ †‘‘”• ƒ†Ȁ‘” ’‘Ž‹–‹…ƒŽ ‡š’‡†‹–—”‡• ‹• ƒ
„”‘ƒ†ǡ „—– •ŠƒŽŽ‘™ǡ ”‡‡†› ˆ‘” –Š‡ ‹ŽŽ• ‘ˆ –Š‡ ’‘Ž‹–‹…ƒŽ ’”‘…‡••Ǥ ‘•–
˜‘–‡”• ƒ”‡ —Ž‹‡Ž› –‘ ‘™ Š‘™ –‘ ƒ……‡•• ’—„Ž‹…Ž› †‹•…Ž‘•‡† ‹ˆ‘”Ǧ
ƒ–‹‘ǡ ƒ† ‡˜‡ ˆ‡™‡” ’‡‘’Ž‡ ™‹ŽŽ ˆ‹† ‹– ™‘”–Š™Š‹Ž‡ –‘ ‹˜‡•–‹‰ƒ–‡
ƒ† ‡˜ƒŽ—ƒ–‡ ™Šƒ–Šƒ• „‡‡ †‹•…Ž‘•‡†Ǥ ƒ††‹–‹‘ǡ –‘ „‡ ”‡ƒŽŽ›‡ƒǦ
‹‰ˆ—Žǡ †‘‘” †‹•…Ž‘•—”‡ —•– Ž‘‘ –Š”‘—‰Š •Š‡ŽŽ ‘”‰ƒ‹œƒ–‹‘• –‘ ”‡Ǧ
˜‡ƒŽ ”‡ƒŽ …‘”’‘”ƒ–‹‘• ƒ†Ȁ‘” ‹†‹˜‹†—ƒŽ• ™Š‘•‡ ‹†‡–‹–› ‹‰Š– ‰‹˜‡
‡ƒ‹‰–‘–Š‡•—„•–ƒ…‡‘ˆ–Š‡‹”…‘—‹…ƒ–‹‘•Ǥ–‹•‹’‘••‹„Ž‡–‘
‘™™Šƒ–™‹ŽŽŠƒ’’‡‹ˆ‰”‡ƒ–‡”†‘‘”†‹•…Ž‘•—”‡‹•”‡“—‹”‡†ˆ‘”‘Ǧ
’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘•Ȅ‡™ ƒ˜‡—‡• ˆ‘” ƒ‘›‘—• ’‘Ž‹–‹…‹‰ ‹‰Š–
‘’‡ —’ǡ ’‘Ž‹–‹…ƒŽ ƒ…–‹˜‹–› ‹‰Š– †‡…Ž‹‡ǡ ‘” †‘‘”• ‹‰Š– ƒ……‡’– –Š‡
‡™”‡‰‹‡ƒ†Ž‡ƒ˜‡–Š‡’‘Ž‹–‹…‹‰Žƒ†•…ƒ’‡Žƒ”‰‡Ž›—…Šƒ‰‡†Ǥ
ƒŽ–‡”ƒ–‹˜‡–‘”‡Ž›‹‰‘–Š‡’—„Ž‹…–‘—•‡†‹•…Ž‘•—”‡–‘‡‰ƒ‰‡
‹ ‘‹–‘”‹‰ ˜‹ƒ ˜‘–‹‰ ƒ† ‰‹˜‹‰ǡ •–ƒ–‡• …‘—Ž† —•‡ –Š‡‹” ‘’”‘ˆ‹–
38015-ckt_91-3 Sheet No. 50 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻʹ͸
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
Žƒ™•–‘‡ˆ‘”…‡–Š‡•–ƒ–‡ǦŽƒ™‘†‹•–”‹„—–‹‘”‡“—‹”‡‡–ˆ‘”‘’”‘ˆǦ
‹–• ‘”‡ ƒ‰‰”‡••‹˜‡Ž›Ǥ Š‡ …‡–”ƒŽ †‡ˆ‹‹‰ …Šƒ”ƒ…–‡”‹•–‹… ‘ˆ ƒŽŽ ‘Ǧ
’”‘ˆ‹–• ‹• –Šƒ– –Š‡› Žƒ… ‘™‡”• ƒ† ƒ”‡ ’”‘Š‹„‹–‡† ˆ”‘ †‹•–”‹„—–‹‰
–Š‡‹”‡ƒ”‹‰•–‘•Šƒ”‡Š‘Ž†‡”ǦŽ‹‡‹–‡”‡•–•Ǥ ͳͷ͹–ƒ–‡•’‘Ž‹…‡–Š‡‘†‹•Ǧ
–”‹„—–‹‘…‘•–”ƒ‹–„›’”‡˜‡–‹‰ˆ‘—†‡”•ǡ†‹”‡…–‘”•ƒ†‘–Š‡”‹•‹†Ǧ
‡”•ˆ”‘•‹’Š‘‹‰…Šƒ”‹–ƒ„Ž‡ˆ—†•ˆ‘”–Š‡‹”’‡”•‘ƒŽ„‡‡ˆ‹–Ǥ ͳͷͺŠ‹Ž‡
–Š‡ ˆ‡†‡”ƒŽ ‰‘˜‡”‡– Šƒ• ‘˜‡”Žƒ’’‹‰ ‡ˆ‘”…‡‡– –Š”‘—‰Š –Š‡ Ǧ
–‡”ƒŽ ‡˜‡—‡‘†‡ǯ• ’”‘Š‹„‹–‹‘ ‘‹—”‡‡–ǡ ͳͷͻ –Š‡•–ƒ–‡•ƒ”‡‡Ǧ
‰ƒ‰‡† ‹ ’”‘–‡…–‹‰ –Š‡ …Šƒ”‹–ƒ„Ž‡ •‡…–‘” ™Š‡ –Š‡› ’”‡˜‡– –Š‡
†‹••‘Ž—–‹‘‘ˆ…Šƒ”‹–ƒ„Ž‡ˆ—†•ǡ™Š‹Ž‡–Š‡‹•’”‘–‡…–‹‰–Š‡–ƒš„ƒ•‡
„› ‘‹–‘”‹‰ –Š‡ „‘”†‡” „‡–™‡‡ –ƒšƒ„Ž‡ ƒ† ‘Ǧ–ƒšƒ„Ž‡ ‘”‰ƒ‹œƒǦ
–‹‘•Ǥ Š‡ ‘†‹•–”‹„—–‹‘ …‘•–”ƒ‹– ‹• ‰‡‡”ƒŽŽ› ˆ‹ƒ…‹ƒŽǡ „—– …‘—Ž†
„‡‡š–‡†‡†–‘Ž‹‹–‘Ǧˆ‹ƒ…‹ƒŽ’”‹˜ƒ–‡„‡‡ˆ‹–•ƒ•™‡ŽŽǤ ͳ͸ͲŠ‡”‡‰—Ǧ
Žƒ–‹‘• —†‡” •‡…–‹‘ ͷͲͳȋ…Ȍȋ͵Ȍ ”‡…‘‰‹œ‡ ‘Ǧˆ‹ƒ…‹ƒŽ ’”‹˜ƒ–‡ „‡‡Ǧ
ˆ‹–• ƒ† ’”‘Š‹„‹– –Š‡ǡ ͳ͸ͳ ƒ† –Š‡ •–ƒ–‡• …‘—Ž† ƒ†‘’– –Š‡ •ƒ‡
ƒ’’”‘ƒ…ŠǤ‹•…Ž‘•—”‡ –‘ –Š‡•–ƒ–‡ ȋƒ† ‘– –Š‡ ’—„Ž‹…Ȍ ™‘—Ž† „‡ •—ˆˆ‹Ǧ
…‹‡– ˆ‘” –Š‡ ––‘”‡› ‡‡”ƒŽ –‘ ‡˜ƒŽ—ƒ–‡ ™Š‡–Š‡” ‹†‹˜‹†—ƒŽ• ƒ”‡
”‡ƒ’‹‰‡š…‡••‹˜‡’”‹˜ƒ–‡„‡‡ˆ‹–•ˆ”‘ƒ‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘Ǥ ͳ͸ʹ
†‹•ƒ†˜ƒ–ƒ‰‡‹”‡Ž›‹‰‘–Š‹•–›’‡‘ˆ•–ƒ–‡‡ˆ‘”…‡‡–‹•–Šƒ–
‹– ‹• •Ž‘™ ƒ† ”‡•‘—”…‡Ǧ‹–‡•‹˜‡Ȅ•‹‹Žƒ” –‘ –Š‡ ƒ’’”‘ƒ…Š –Šƒ– ”‡Ž‹‡•
‘ ‹†‹˜‹†—ƒŽ ˆ”ƒ—† ’”‘•‡…—–‹‘• ˆ‘” ƒ‹‰ ‹•Ž‡ƒ†‹‰ •–ƒ–‡‡–•Ǥ
38015-ckt_91-3 Sheet No. 50 Side B
06/09/2016 10:30:17
ͳͷ͹Ǥ See Ǥ Ǥǡ ȋͷ–Š‡†ǤʹͲͳͷȌǢ Ǥ Ǧ
ǡ
ǣ ͵ȋ’ƒ’‡”„ƒ…
‡†ǤʹͲͲͺȌǤ
ͳͷͺǤ Š‹•‹•ƒ…‘‘‡ˆ‘”…‡‡–ƒ…–‹‘„”‘—‰Š–„›•–ƒ–‡…Šƒ”‹–‹‡•„—”‡ƒ—•ǤSee, e.g.ǡCharities Bureau News and Alerts, ContinuedǡǤǡ
Š––’ǣȀȀ™™™Ǥ…Šƒ”‹–‹‡•›•Ǥ…‘Ȁ‡™•̴ƒ”…Š‹˜‡•ǤŒ•’ ȋŽƒ•– ˜‹•‹–‡† ƒ”Ǥ ͳ͸ǡ ʹͲͳ͸ȌǢ ǡ
Ǥǡ ǣ ǣ ͳ ȋƒ”Ǥ ʹͲͳͷȌǡ Š––’ǣȀȀ™™™Ǥ…Šƒ”‹–‹‡•›•Ǥ…‘Ȁ’†ˆ•ȀʹͲͳͶ̴‡‹‡•Ǥ’†ˆ
ȋ†‹•…—••‹‰ –‡Ž‡ƒ”‡–‡”• ƒ‹‰ …Šƒ”‹–ƒ„Ž‡ •‘Ž‹…‹–ƒ–‹‘• ƒ† ”‡–ƒ‹‹‰ Žƒ”‰‡ ’‘”–‹‘• ‘ˆ –Š‡
’”‘ˆ‹–•‹•–‡ƒ†‘ˆ’ƒ••‹‰–Š‡‘–‘–Š‡…Šƒ”‹–›ȌǤ
ͳͷͻǤ ǤǤǤ Ț ͷͲͳȋ…Ȍȋ͵Ȍ ȋʹͲͳͶȌ ȋDz‘”’‘”ƒ–‹‘•ǤǤǤ ‘”‰ƒ‹œ‡† ƒ† ‘’‡”ƒ–‡† ‡š…Ž—•‹˜‡Ž› ˆ‘”ǤǤǤ
…Šƒ”‹–ƒ„Ž‡ǤǤǤ’—”’‘•‡•ǤǤǤǡ‘’ƒ”–‘ˆ–Š‡‡–‡ƒ”‹‰•™Š‹…Š‹—”‡•–‘–Š‡„‡‡ˆ‹–‘ˆƒ›’”‹˜ƒ–‡
•Šƒ”‡Š‘Ž†‡”‘”‹†‹˜‹†—ƒŽǤǤǤǤdzȌǤ
ͳ͸ͲǤ See, e.g.ǡǤǤ ǦǦ Ǥ ȚͳͲʹȋƒȌȋͷȌȋ…‹‡›ʹͲͳͷȌȋ’”‘˜‹†‹‰–Šƒ–ƒ
‘’”‘ˆ‹–…‘”’‘”ƒ–‹‘—•–„‡ˆ‘”‡†Dz‡š…Ž—•‹˜‡Ž›ˆ‘”ƒ’—”’‘•‡‘”’—”’‘•‡•ǡ‘–ˆ‘”’‡…—‹ƒ”›
’”‘ˆ‹–‘”ˆ‹ƒ…‹ƒŽ‰ƒ‹ǡˆ‘”™Š‹…Šƒ…‘”’‘”ƒ–‹‘ƒ›„‡ˆ‘”‡†—†‡”–Š‹•…Šƒ’–‡”ǡƒ†ǤǤǤ‘’ƒ”–
‘ˆ –Š‡ ƒ••‡–•ǡ ‹…‘‡ ‘” ’”‘ˆ‹– ǤǤǤ ‹• †‹•–”‹„—–ƒ„Ž‡ –‘ǡ ‘” ‹—”‡• –‘ –Š‡ „‡‡ˆ‹– ‘ˆǡ ‹–• ‡„‡”•ǡ
†‹”‡…–‘”•‘”‘ˆˆ‹…‡”•‡š…‡’––‘–Š‡‡š–‡–’‡”‹––‡†—†‡”–Š‹••–ƒ–—–‡ǤdzȌǤ
ͳ͸ͳǤ ”‡ƒ•Ǥ‡‰ǤȚͳǤͷͲͳȋ…Ȍȋ͵ȌȂͳȋ†ȌȋͳȌȋ‹‹Ȍȋƒ•ƒ‡†‡†‹ʹͲͲͺȌǤ
ͳ͸ʹǤ ƒŽ‹ˆ‘”‹ƒǯ•ƒ––‘”‡›‰‡‡”ƒŽƒ†‡–Š‹•ƒ”‰—‡–‹–Š‡…‘–‡š–‘ˆ†‘‘”†‹•…Ž‘•—”‡ˆ‘”ƒ
…Šƒ”‹–ƒ„Ž‡‘”‰ƒ‹œƒ–‹‘ǤSee–”Ǥˆ‘”‘’‡–‹–‹˜‡‘Ž‹–‹…•˜Ǥƒ””‹•ǡ͹ͺͶǤ͵†ͳ͵Ͳ͹ǡͳ͵ͳͳȋͻ–Š‹”Ǥ
ʹͲͳͷȌȋDzŠ‡––‘”‡›
‡‡”ƒŽƒ”‰—‡•–Šƒ––Š‡”‡‹•ƒ…‘’‡ŽŽ‹‰Žƒ™‡ˆ‘”…‡‡–‹–‡”‡•–‹–Š‡
†‹•…Ž‘•—”‡ ‘ˆ –Š‡ ƒ‡• ‘ˆ •‹‰‹ˆ‹…ƒ– †‘‘”•Ǥ Š‡ ƒ”‰—‡• –Šƒ– •—…Š ‹ˆ‘”ƒ–‹‘ ‹• ‡…‡••ƒ”› –‘
†‡–‡”‹‡ ™Š‡–Š‡”ƒ …Šƒ”‹–› ‹• ƒ…–—ƒŽŽ› ‡‰ƒ‰‡† ‹ ƒ …Šƒ”‹–ƒ„Ž‡ ’—”’‘•‡ǡ ‘”‹• ‹•–‡ƒ† ˜‹‘Žƒ–‹‰
ƒŽ‹ˆ‘”‹ƒŽƒ™„›‡‰ƒ‰‹‰‹•‡ŽˆǦ†‡ƒŽ‹‰ǡ‹’”‘’‡”Ž‘ƒ•ǡ‘”‘–Š‡”—ˆƒ‹”„—•‹‡••’”ƒ…–‹…‡•ǤdzȌǤ
38015-ckt_91-3 Sheet No. 51 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
STATE LAW SOLUTIONS
ͻʹ͹
Šƒ”‹–‹‡•‘ˆˆ‹…‹ƒŽ•Ȅ‡˜‡‹•–ƒ–‡•™‹–Š–Š‡‘•–ƒ…–‹˜‡”‡‰—Žƒ–‘”•Ȅ…ƒ
‰‡‡”ƒŽŽ› ƒˆˆ‘”† –‘ …Š‘‘•‡ ‘Ž› –Š‡ ‘•– ‡‰”‡‰‹‘—• …ƒ•‡• ˆ‘” –Š‡‹”
•…ƒ”…‡‡ˆ‘”…‡‡–†‘ŽŽƒ”•Ǥˆ–Š‡’—„Ž‹…Ȅ‡‹–Š‡”ƒ•˜‘–‡”•‘”†‘‘”•Ȅ
…ƒ ‘‹–‘” —•‹‰ ‹ˆ‘”ƒ–‹‘ –Šƒ– ‘”‰ƒ‹œƒ–‹‘• –Š‡•‡Ž˜‡• —•–
†‹•…Ž‘•‡ǡ–Š‡”‡…ƒ„‡•—„•–ƒ–‹ƒŽ•ƒ˜‹‰ˆ‘”–Š‡•–ƒ–‡•ǤŠ‡“—‡•–‹‘‹•
™Š‡–Š‡” ’—„Ž‹… †‹•…Ž‘•—”‡ ˆ‘” ’—„Ž‹… ‡ˆ‘”…‡‡– ™‹ŽŽ „‡ ‡ˆˆ‡…–‹˜‡
‡‘—‰Š –‘ „‡ ™‘”–Š –Š‡ ”‡‰—Žƒ–‘”› –”‘—„Ž‡Ǥ – ‹• –‘‘ •‘‘ –‘ –‡ŽŽ Š‘™
ƒŽ‹ˆ‘”‹ƒƒ†‡™‘”ǯ•‡™”—Ž‡•™‹ŽŽ‘’‡”ƒ–‡‘–Š‡‰”‘—†Ǥ
C. Redefine Nonprofit Organizations Under State Law
ˆ–Š‡•–ƒ–‡•–—”–‘‘’”‘ˆ‹–•Žƒ™”‡‰—Žƒ–‹‘ǡ–Š‡ƒ’’”‘ƒ…Š…‘—Ž†
‹””‘”’‘–‡–‹ƒŽˆ‡†‡”ƒŽ”‡‰—Žƒ–‹‘—†‡”•‡…–‹‘ͷͲͳȋ…ȌȋͶȌ„›†‡ˆ‹‹‰
•‘‡‘”‰ƒ‹œƒ–‹‘•ƒ•‹‡Ž‹‰‹„Ž‡ˆ‘”‘’”‘ˆ‹–••–ƒ–—•ǤŠ‹•ƒŽ–‡”ƒ–‹˜‡
™‘—Ž†Šƒ˜‡–Š‡•–ƒ–‡•‹Š‡”‹–‹‰–Š‡’”‘Œ‡…––Šƒ––Š‡ˆƒ‹Ž‡†–‘…‘Ǧ
’Ž‡–‡™Š‡‹–™‹–Š†”‡™ǡƒ†‡˜‡””‡‹••—‡†ǡ–Š‡’”‘’‘•‡†”‡‰—Žƒ–‹‘•
—†‡”•‡…–‹‘ ͷͲͳȋ…ȌȋͶȌǤͳ͸͵‡™ ‘”ǯ•…—””‡– ‘’”‘ˆ‹– …‘”’‘”ƒ–‹‘
Žƒ™ǡˆ‘”‡šƒ’Ž‡ǡŠƒ•ƒ˜‡”›„”‘ƒ††‡ˆ‹‹–‹‘ˆ‘”‘…Šƒ”‹–ƒ„Ž‡…‘”’‘Ǧ
”ƒ–‹‘•ǣ
Dz‘Ǧ…Šƒ”‹–ƒ„Ž‡ …‘”’‘”ƒ–‹‘dz ‡ƒ• ƒ› …‘”’‘”ƒ–‹‘ ˆ‘”‡† —†‡”
–Š‹• …Šƒ’–‡”ǡ ‘–Š‡” –Šƒ ƒ …Šƒ”‹–ƒ„Ž‡ …‘”’‘”ƒ–‹‘ǡ ‹…Ž—†‹‰ „—– ‘–
Ž‹‹–‡† –‘ ‘‡ ˆ‘”‡† ˆ‘” ƒ› ‘‡ ‘” ‘”‡ ‘ˆ –Š‡ ˆ‘ŽŽ‘™‹‰ ‘Ǧ
’‡…—‹ƒ”›’—”’‘•‡•ǣ…‹˜‹…ǡ’ƒ–”‹‘–‹…ǡ’‘Ž‹–‹…ƒŽǡ•‘…‹ƒŽǡˆ”ƒ–‡”ƒŽǡƒ–ŠŽ‡–Ǧ
‹…ǡ ƒ‰”‹…—Ž–—”ƒŽǡ Š‘”–‹…—Ž–—”ƒŽǡ ‘” ƒ‹ƒŽ Š—•„ƒ†”›ǡ ‘” ˆ‘” –Š‡ ’—”Ǧ
’‘•‡ ‘ˆ ‘’‡”ƒ–‹‰ ƒ ’”‘ˆ‡••‹‘ƒŽǡ …‘‡”…‹ƒŽǡ ‹†—•–”‹ƒŽǡ –”ƒ†‡ ‘”
•‡”˜‹…‡ƒ••‘…‹ƒ–‹‘Ǥ ͳ͸Ͷ
06/09/2016 10:30:17
ͳ͸͵Ǥ See supra ‘–‡•Ͷ͹ȂͶͺƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
ͳ͸ͶǤ ǦǦǤȚͳͲʹȋƒȌȋͻǦƒȌǤ
ͳ͸ͷǤ Id.ȚʹͲͶȋDz‘–™‹–Š•–ƒ†‹‰ƒ›‘–Š‡”’”‘˜‹•‹‘‘ˆ–Š‹•…Šƒ’–‡”‘”ƒ›‘–Š‡”‰‡‡”ƒŽŽƒ™ǡ
ƒ…‘”’‘”ƒ–‹‘‘ˆƒ›‹†–‘™Š‹…Š–Š‹•…Šƒ’–‡”ƒ’’Ž‹‡••ŠƒŽŽ…‘†—…–‘ƒ…–‹˜‹–‹‡•ˆ‘”’‡…—‹ƒ”›
’”‘ˆ‹– ‘” ˆ‹ƒ…‹ƒŽ ‰ƒ‹ǡ ™Š‡–Š‡” ‘” ‘– ‹ ˆ—”–Š‡”ƒ…‡ ‘ˆ ‹–• …‘”’‘”ƒ–‡ ’—”’‘•‡•ǡ ‡š…‡’– –‘ –Š‡
‡š–‡––Šƒ–•—…Šƒ…–‹˜‹–›•—’’‘”–•‹–•‘–Š‡”Žƒ™ˆ—Žƒ…–‹˜‹–‹‡•–Š‡„‡‹‰…‘†—…–‡†ǤdzȌǤ
38015-ckt_91-3 Sheet No. 51 Side A
Š‡•–ƒ–‡•…‘—Ž†”‡˜‹•‡–Š‡Ž‹‹–ƒ–‹‘•‘‡Ž‹‰‹„Ž‡‘’”‘ˆ‹–‘”‰ƒǦ
‹œƒ–‹‘•–‘Ž‹‹–…‡”–ƒ‹–›’‡•‘ˆ’‘Ž‹–‹…ƒŽƒ…–‹˜‹–‹‡•Ǥ—””‡–Žƒ™‹‡™
‘”ǡˆ‘”‡šƒ’Ž‡ǡ…‘–ƒ‹•ƒ‡š’”‡••Ž‹‹–ƒ–‹‘‘Ž›‘’”‘ˆ‹–Ǧƒ‹‰
ƒ…–‹˜‹–›Ǥ ͳ͸ͷ ƒ”˜‹‰ ‘—– …‡”–ƒ‹ ’”‹ƒ”‹Ž› ’‘Ž‹–‹…ƒŽ ‘”‰ƒ‹œƒ–‹‘• ˆ”‘
–Š‡†‡ˆ‹‹–‹‘‘ˆ‘’”‘ˆ‹–…‘”’‘”ƒ–‹‘•…‘—Ž†„‡ƒ”‡ƒ•‘ƒ„Ž‡‘†‹ˆ‹Ǧ
…ƒ–‹‘‘ˆ…—””‡–Žƒ™Ǥ
‡˜‹•‹‰–Š‡†‡ˆ‹‹–‹‘‘ˆ‘…Šƒ”‹–ƒ„Ž‡‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•‹•
—Ž‹‡Ž›–‘„‡ƒƒ––”ƒ…–‹˜‡‘’–‹‘ǡƒ†™‘—Ž†„‡‘‘”‡’‘’—Žƒ”–Šƒ
–Š‡ǯƒ––‡’––‘”‡˜‹•‡–Š‡†‡ˆ‹‹–‹‘‘ˆ•‡…–‹‘ͷͲͳȋ…ȌȋͶȌǤŠ‹Ž‡–Š‡
•–ƒ–‡•‹‰Š–‘–„‡ƒ•’‘Ž‹–‹…ƒŽŽ›˜—Ž‡”ƒ„Ž‡‘–Š‹•‹••—‡ƒ•–Š‡ǡ–Š‡
38015-ckt_91-3 Sheet No. 51 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻʹͺ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
CHICAGO-KENT LAW REVIEW
ȏ‘Žͻͳǣ͵
•–ƒ–‡• ƒ”‡ ‹ ‘ „‡––‡” ’‘•‹–‹‘ –Šƒ –Š‡ ˆ‡†‡”ƒŽ ‰‘˜‡”‡– –‘ •‘Ž˜‡
–Š‡ —†‡”Ž›‹‰ †‹ˆˆ‹…—Ž–›‘ˆ †‹•–‹‰—‹•Š‹‰ ’—„Ž‹…Ǧ‘”‹‡–‡† ‡†—…ƒ–‹‘ƒŽ
ƒ…–‹˜‹–‹‡•ˆ”‘’‘Ž‹–‹…ƒŽƒ…–‹˜‹–‹‡•Ȅ–Š‡†‡ˆ‹‹–‹‘ƒŽ‘”ƒ••™‹ŽŽ’Žƒ‰—‡
„‘–Š–Š‡ˆ‡†‡”ƒŽ‰‘˜‡”‡–ƒ†–Š‡•–ƒ–‡•‡“—ƒŽŽ›Ǥ
‘”‡‹’‘”–ƒ–Ž›ǡ•—…Šƒ”‡˜‹•‹‘‹–Š‡Žƒ™‹‰Š–„‡‹‡ˆˆ‡…–‹˜‡
‹”‡‰—Žƒ–‹‰†ƒ”‘‡›‹’‘Ž‹–‹…•Ǥˆ’‘Ž‹–‹…ƒŽ‘”‰ƒ‹œƒ–‹‘•ƒ”‡—ƒǦ
„Ž‡ –‘ „‡ ‘’”‘ˆ‹– …‘”’‘”ƒ–‹‘• —†‡” •–ƒ–‡ Žƒ™ǡ –Š‡› ‹‰Š– •‹’Ž›
…Š‘‘•‡ƒ‘–Š‡”ˆ‘”‘ˆ‘”‰ƒ‹œƒ–‹‘Ǥƒš‡š‡’–‹‘—†‡”ˆ‡†‡”ƒŽŽƒ™
†‘‡•‘–”‡“—‹”‡‹…‘”’‘”ƒ–‹‘ƒ•ƒ‘’”‘ˆ‹–…‘”’‘”ƒ–‹‘—†‡”•–ƒ–‡
Žƒ™Ǥ–‹‰Š–„‡Šƒ”†‡”ˆ‘”‘”‰ƒ‹œƒ–‹‘•–‘”ƒ‹•‡‘‡›–Š”‘—‰Š†‘ƒǦ
–‹‘• ‹ˆ –Š‡› ƒ”‡ —ƒ„Ž‡ –‘ ™‡ƒ” –Š‡ ‘’”‘ˆ‹–• ƒ–Ž‡ǡ „—– Žƒ”‰‡ ƒ†
ƒ‘›‘—• ‹†‡’‡†‡– ‡š’‡†‹–—”‡• ƒ”‡ Ž‹‡Ž› –‘ …‘–‹—‡ –Š”‘—‰Š
‘–Š‡” ‡ƒ•ǡ ‹…Ž—†‹‰ ‘Ǧ…‘”’‘”ƒ–‡ ˆ‘”• ƒ† ˆ‘”Ǧ’”‘ˆ‹– …‘”’‘”ƒǦ
–‹‘•Ǥ ͳ͸͸
Ǥ
ǫ
A. Do We Care About For-Profits?
‡™ƒ›–‘–‡•–™Š‡–Š‡”–Š‡•‘Ž—–‹‘•Š‘—Ž†„‡ƒ‘’”‘ˆ‹–•Žƒ™
•‘Ž—–‹‘‹•–‘…‘•‹†‡”™Š‡–Š‡”–Š‡’”‘„Ž‡™‘—Ž†„‡–Š‡•ƒ‡‹ˆˆ‘”Ǧ
’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•™‡”‡–Š‡˜‡Š‹…Ž‡ˆ‘”†ƒ”‘‡›ǡ”ƒ–Š‡”–Šƒ‘Ǧ
06/09/2016 10:30:17
ͳ͸͸Ǥ ‘ƒŽ† ‘„‹ Šƒ• †‹•…—••‡† –Š‡ ’‘••‹„‹Ž‹–› ‘ˆ —•‹‰ –ƒšƒ„Ž‡ ‡–‹–‹‡• ƒ• ƒ Ž‘‘’Š‘Ž‡ –‘
ƒ˜‘‹† –Š‡ †‹•…Ž‘•—”‡ ”‡“—‹”‡‡–• ‘ˆ ͷʹ͹ǡ ‹•–‡ƒ† ‘ˆ ‘–Š‡” –ƒšǦ‡š‡’– ‡–‹–‹‡• ™Š‹…Š …ƒ „‡
…ŠƒŽŽ‡‰‡†Ǥ ‘„‹ǡ supra ‘–‡ ʹͷǢ ‘ƒŽ† Ǥ ‘„‹ǡ Political Advocacy and Taxable Entities: Are
They The Next “Loophole”?ǡ͸ǤǤǤͶͳȋʹͲͲ͹ȌǤSee also infra‡…–‹‘ǤǤ
38015-ckt_91-3 Sheet No. 51 Side B
Š‹• •‡…–‹‘ ”ƒ‹•‡• “—‡•–‹‘• ƒ„‘—– —•‹‰ •–ƒ–‡ ‘’”‘ˆ‹– ”‡‰—ŽƒǦ
–‹‘–‘ƒ††”‡••–Š‡’”‘„Ž‡‘ˆ†ƒ”‘‡›‹’‘Ž‹–‹…•Ǥ•–ƒ–‡‘’”‘ˆǦ
‹–• Žƒ™ •‘Ž—–‹‘ ‹• ˜—Ž‡”ƒ„Ž‡ ƒŽ‘‰ –™‘ †‹‡•‹‘•ǣ ‘’”‘ˆ‹– ƒ†
•–ƒ–‡Ǥ ˆ ‡Ž‡…–‹‘ Žƒ™ ‹• •—’‡”‹‘”ǡ –Š‡ ‘’”‘ˆ‹–• Žƒ™ ‹• ƒ „ƒ† …Š‘‹…‡ǡ
ƒ†‹ˆˆ‡†‡”ƒŽŽƒ™‹•‡…‡••ƒ”›ǡ–Š‡ƒ›•–ƒ–‡Žƒ™™‘—Ž†„‡—†‡•‹”ƒǦ
„Ž‡Ǥ ˆ ˆ‘”Ǧ’”‘ˆ‹–• …ƒ †‘ ™Šƒ– ‘’”‘ˆ‹–• ƒ”‡ †‘‹‰ǡ –Š‡ ”‡‰—Žƒ–‹‰
‘’”‘ˆ‹–•ƒŽ‘‡™‘—Ž†„‡‹‡ˆˆ‡…–‹˜‡Ǥˆ•–ƒ–‡ǦŽƒ™Œ—”‹•†‹…–‹‘ƒŽ”‡ƒ…Š
‹• –‘‘ Ž‹‹–‡† –‘ ”‡‰—Žƒ–‡ •—ˆˆ‹…‹‡–Ž›ǡ –Š‡ ƒ› •–ƒ–‡ ”‡‰—Žƒ–‹‘Ȅ
™Š‡–Š‡” ‘’”‘ˆ‹–• Žƒ™ ‘” ‘–Š‡”™‹•‡Ȅ™‘—Ž† ‡‡† –‘ „‡ …‘‘”†‹ƒ–‡†
ƒ…”‘•••–ƒ–‡•–‘‡•—”‡•—ˆˆ‹…‹‡–”‡‰—Žƒ–‘”›…‘˜‡”ƒ‰‡Ǥ—–•–ƒ–‡•‹‰Š–
„‡ ƒ„Ž‡ –‘‡š’‡”‹‡– ™‹–Š †‹ˆˆ‡”‡– ƒ’’”‘ƒ…Š‡• ƒ• ƒ •–‡’‹ –Š‡ ’”‘Ǧ
…‡•• –‘™ƒ”† ƒ…Š‹‡˜‹‰ ˆ‡†‡”ƒŽ ”‡‰—Žƒ–‹‘Ǥ ‹ƒŽŽ›ǡ ‹ˆ †‹•…Ž‘•—”‡ ‹• –Š‡
‘Ž›…‘•–‹–—–‹‘ƒŽ‡–Š‘†‘ˆ”‡‰—Žƒ–‹‘ǡ‹–ƒ›•‹’Ž›„‡–‘‘‹‡ˆˆ‡…Ǧ
–‹˜‡Ǥ
38015-ckt_91-3 Sheet No. 52 Side A
06/09/2016 10:30:17
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ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻʹͻ
06/09/2016 10:30:17
ͳ͸͹Ǥ SeeŠ‘ƒ•ƒ–ƒǡPolitical Donors Chase Funding AlternativeǡǤǤȋƒǤͷǡʹͲͳͶȌǡ
Š––’ǣȀȀ™™™Ǥ™•ŒǤ…‘Ȁƒ”–‹…Ž‡•ȀͳͲͲͲͳͶʹͶͲͷʹ͹Ͳʹ͵ͲͶͺͺ͹ͳͲͶͷ͹ͻ͵Ͳʹ͸͹ͳ͵ͻͺͺͻ͵ͲͷͲǢ
ƒ†›
”‡Š„‹‡Žǡ T.W. Shannon Supporters Set Up For-Profit Corporations to Pay for Adsǡ ȋƒ”Ǥ ʹ͵ǡ ʹͲͳͶȌǡ Š––’ǣȀȀ™™™Ǥ–—Ž•ƒ™‘”Ž†Ǥ…‘Ȁ‡™•Ȁ‰‘˜‡”‡–Ȁ–Ǧ™Ǧ•Šƒ‘Ǧ•—’’‘”–‡”•Ǧ•‡–Ǧ
—’Ǧˆ‘”Ǧ’”‘ˆ‹–Ǧ…‘”’‘”ƒ–‹‘Ǧ–‘Ȁƒ”–‹…Ž‡̴ƒͷʹ‡…„ͻͷǦͲ͵ͺͻǦͷʹʹ͵Ǧͻ͸†͹Ǧ„ʹƒͶƒ‡ͺ͹„ͳͶͷǤŠ–ŽǢ
‡–Š
‡‹Šƒ”†Ƭƒ‡–‘‘ǡGOP Operative Plans ‘Guerrilla Campaign’ Against Donald Trumpǡ Ǥ
Ǥ ȋ‘˜Ǥ ʹͲǡ ʹͲͳͷȌǡ Š––’ǣȀȀ™™™Ǥ™•ŒǤ…‘Ȁƒ”–‹…Ž‡•Ȁ‰‘’Ǧ‘’‡”ƒ–‹˜‡Ǧ’Žƒ•Ǧ‰—‡””‹ŽŽƒǦ…ƒ’ƒ‹‰Ǧ
ƒ‰ƒ‹•–Ǧ†‘ƒŽ†Ǧ–”—’ǦͳͶͶͺͲͷͲͻ͵͹Ǥ
ͳ͸ͺǤ See ‘„‹ǡ supra ‘–‡ ʹͷǡ ƒ– ͷͺ͸ ȋDzȏȐ Ž‹‰Š– ‘ˆ –Š‡ ‡”˜‹…‡ǯ• ”‡Ž—…–ƒ…‡ –‘ ƒ‰‰”‡••‹˜‡Ž›
‡ˆ‘”…‡‡š‹•–‹‰’”‘˜‹•‹‘•ǡ‹–‹•“—‡•–‹‘ƒ„Ž‡™Š‡–Š‡”–ƒšƒ„Ž‡‡–‹–‹‡•™‹ŽŽ„‡•—„Œ‡…––‘•‡…–‹‘
ͷʹ͹ǯ•†‹•…Ž‘•—”‡’”‘˜‹•‹‘•‡˜‡‹ˆ–Š‡‘”‰ƒ‹œƒ–‹‘•Šƒ˜‡ƒ•–Š‡‹”’”‹ƒ”›’—”’‘•‡‡‰ƒ‰‹‰‹
‡Ž‡…–‹‘ƒ†˜‘…ƒ…›ǤdzȌǤ
38015-ckt_91-3 Sheet No. 52 Side A
’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘•Ǥ ˆ ˆ‘”Ǧ’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘• ƒ”‡ ƒ ‰‘‘† •—„•–‹–—–‡
ˆ‘”‘’”‘ˆ‹–•ǡ–Š‡”‡‰—Žƒ–‹‰‘’”‘ˆ‹–•ƒŽ‘‡™‘—Ž†„‡ƒ™ƒ•–‡ǤŠ‹•
‹• ‘– ƒ …‘’Ž‡–‡Ž› ƒ…ƒ†‡‹… ‹“—‹”›ǡ •‹…‡ •‘‡ ˆ‘”Ǧ’”‘ˆ‹– ‘”‰ƒ‹œƒǦ
–‹‘• Šƒ˜‡ „‡‡ —•‡† ˆ‘” ’‘Ž‹–‹…ƒŽ ƒ†˜‘…ƒ…› ”‡…‡–Ž›Ǥ ͳ͸͹ Š‡–Š‡” ˆ‘”Ǧ
’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•’”‡•‡––Š‡•ƒ‡’”‘„Ž‡ƒ•‘’”‘ˆ‹–•†‡’‡†•
‘–Š‡†‡ˆ‹‹–‹‘‘ˆ–Š‡’”‘„Ž‡Ǥ
‹•’ƒ”ƒ–‡’‘™‡”‹–Š‡’‘Ž‹–‹…ƒŽ’”‘…‡••„‡‡ˆ‹––‹‰–Š‡”‹…Š™‘—Ž†
…‘–‹—‡–‘„‡ƒ…‘…‡”‡˜‡‹ˆ‡Ž‡…–‹‘‡‡”‹‰ƒ…–‹˜‹–‹‡•™‡”‡—†‡”Ǧ
–ƒ‡ „› ˆ‘”Ǧ’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘•Ȅ–Š‘•‡ ™Š‘ …ƒ ƒˆˆ‘”† –‘ „—› ‹ˆŽ—Ǧ
‡…‡ƒ”‡„‡––‡”‘ˆˆ‡‹–Š‡”™ƒ›Ǥ‹‹Žƒ”Ž›ǡ…‘…‡”‘˜‡”–Š‡ƒ‘›‹–›‘ˆ
™Š‘ ‹• „‡Š‹† ƒ ‡••ƒ‰‡ ™‘—Ž† ƒŽ•‘ …‘–‹—‡ –‘ „‡ ƒ ’”‘„Ž‡Ǥ ›
Ž‡‰ƒŽ•–”—…–—”‡–Šƒ–•‡’ƒ”ƒ–‡•‹†‹˜‹†—ƒŽ•‹…‘–”‘Žˆ”‘–Š‡ƒ…–‹˜‹–‹‡•
‘ˆ–Š‡‘”‰ƒ‹œƒ–‹‘ƒ‡•‹–†‹ˆˆ‹…—Ž––‘‹†‡–‹ˆ›–Š‡’‡”•‘„‡Š‹†–Š‡
‡••ƒ‰‡ǡ ™Š‹…Š ‹• ’‘••‹„Ž‡ ‹ „‘–Š ˆ‘”Ǧ’”‘ˆ‹– ƒ† ‘’”‘ˆ‹– ‘”‰ƒ‹œƒǦ
–‹‘•Ǥ – ‹• ‡ƒ•› –‘ ˆ‘” ƒ …‘”’‘”ƒ–‹‘ ™‹–Š •Šƒ”‡Š‘Ž†‡”• —†‡” •–ƒ–‡
Žƒ™ǡƒ†–Š‡”‡‹•‘’”‘Š‹„‹–‹‘ƒ‰ƒ‹•–…‘”’‘”ƒ–‹‘•Šƒ˜‹‰ƒ‡š’”‡••
’—”’‘•‡ ‘ˆ ƒ‹‰ ’‘Ž‹–‹…ƒŽ ‡š’‡†‹–—”‡•Ǥ Š‡”‡ ‹• ƒŽ•‘ ‘ ’—„Ž‹… †‹•Ǧ
…Ž‘•—”‡ ‘ˆ –Š‡ ‹†‡–‹–› ‘ˆ •Šƒ”‡Š‘Ž†‡”• —†‡” •–ƒ–‡ …‘”’‘”ƒ–‡ Žƒ™Ǥ
Š‹Ž‡ ‹– ‹• ƒ”‰—ƒ„Ž‡ –Šƒ– •‡…–‹‘ ͷʹ͹ ™‘—Ž† ”‡“—‹”‡ †‹•…Ž‘•—”‡ ‘ˆ ˆ‘”Ǧ
’”‘ˆ‹– Dz†‘‘”•ǡdz –Š‡ ‹• —Ž‹‡Ž› –‘ ”‡“—‹”‡ –Šƒ–Ǥ ͳ͸ͺ ‘•‡“—‡–Ž›ǡ
†ƒ”‘‡›…ƒ…‘–‹—‡–‘ƒˆˆ‡…––Š‡’‘Ž‹–‹…ƒŽ’”‘…‡••‡˜‡‹ˆ‘’”‘ˆǦ
‹–•ƒ”‡‘–‹˜‘Ž˜‡†Ǥ‘–Š‡‡š–‡––Š‡•‡…‘…‡”•‡‡†ƒ––‡–‹‘ǡ‘Ǧ
’”‘ˆ‹–• Žƒ™ Šƒ• ‘–Š‹‰ –‘ ƒ††Ǥ Ž‡…–‹‘ǦŽƒ™ ”‡‰—Žƒ–‹‘ ™‹ŽŽ „‡
‡…‡••ƒ”› –‘ ‹…Ž—†‡ „‘–Š ˆ‘”Ǧ’”‘ˆ‹– ƒ† ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘•ǡ ƒ•
™‡ŽŽƒ•‹†‹˜‹†—ƒŽ•Ǥ
‘™‡˜‡”ǡ–Š‡”‡‹•ƒ‹’‘”–ƒ–†‹•–‹…–‹‘„‡–™‡‡ˆ‘”Ǧ’”‘ˆ‹–ƒ†
‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘• ƒ† –Š‡‹” ƒ„‹Ž‹–› –‘ ‡‰ƒ‰‡ ‹ ’‘Ž‹–‹…‹‰ –Šƒ–
ƒ”‰—‡•ˆ‘”‘’”‘ˆ‹–•”‡‰—Žƒ–‹‘ǣˆ‘”Ǧ’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•†‘‘–ƒ––”ƒ…–
†‘ƒ–‹‘•ǤŠ‹•‹•‹’‘”–ƒ–‹‡˜ƒŽ—ƒ–‹‰–Š‡’‘Ž‹…‹‡•†‡•…”‹„‡†ƒ„‘˜‡Ǥ
ˆ–Š‡•–ƒ–‡ǯ•‰‘ƒŽ‹•–Š‡’”‘–‡…–‹‘‘ˆ†‘‘”•–‘‘’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•ǡ
38015-ckt_91-3 Sheet No. 52 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻ͵Ͳ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
38015-ckt_91-3 Sheet No. 52 Side B
‘”–Š‡’”‘–‡…–‹‘‘ˆ…Šƒ”‹–‹‡•ǡ–Š‡‘’”‘ˆ‹–•Žƒ™ƒ›„‡ƒ‰‘‘†”‡‰—Ǧ
Žƒ–‘”›Ž‘…—•Ǥƒ”‘‡›‹ˆ‘”Ǧ’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•‹•‘–ƒ’”‘„Ž‡‹ˆ
–Š‡ ‹••—‡ –‘ „‡ ƒ††”‡••‡† ‹• ‡‹–Š‡” ȋͳȌ –Š‡ …‘ˆ—•‹‘ „‡–™‡‡ ȋ…Ȍȋ͵Ȍ
ƒ† ‘–Š‡” ‡š‡’– ‘”‰ƒ‹œƒ–‹‘•ǡ ‘” ȋʹȌ –Š‡ ’—”’‘•‡ˆ—Ž ‹•Ž‡ƒ†‹‰ ‘ˆ
†‘‘”• •‘ –Š‡› ‰‹˜‡ ‘”‡ –‘ ‡š‡’– ‘”‰ƒ‹œƒ–‹‘•Ǥ ‘Ž‹–‹…ƒŽ •’‡†‹‰
„›ˆ‘”Ǧ’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘•ƒ†‹†‹˜‹†—ƒŽ•ƒ›„‡–”‘—„Ž‹‰Ǥ‡˜‡”–Š‡Ǧ
Ž‡••ǡ–Š‡•–ƒ–‡ƒ›Ž‡‰‹–‹ƒ–‡Ž›†‡…‹†‡–‘’”‘–‡…–‘’”‘ˆ‹–†‘‘”•ƒ†
…Šƒ”‹–‹‡•ǡƒ†Ž‡ƒ˜‡–Š‡Žƒ”‰‡”†ƒ”Ǧ‘‡›’”‘„Ž‡ˆ‘”ƒ‘–Š‡”†ƒ›ȋ‘”
ƒ…‘•–‹–—–‹‘ƒŽƒ‡†‡–ȌǤ
‘’”‘ˆ‹–• ƒ”‡ ƒ ’ƒ”–‹…—Žƒ”Ž› ƒ’’‡ƒŽ‹‰ ˜‡Š‹…Ž‡ ˆ‘” …‘„‹‹‰ •‘Ǧ
…‹ƒŽ™‡Žˆƒ”‡ƒ…–‹˜‹–‹‡•ƒ†’‘Ž‹–‹…‹‰„‡…ƒ—•‡’‡‘’Ž‡ƒ”‡‹…Ž‹‡†–‘„‡
‰‡‡”‘—•–‘•‘…‹ƒŽ™‡Žˆƒ”‡‘”‰ƒ‹œƒ–‹‘•Ǥ‘‘”•ƒ›‘–—†‡”•–ƒ†
–Šƒ– ƒ ‘”‰ƒ‹œƒ–‹‘ ‡‰ƒ‰‡• ‹ ’‘Ž‹–‹…ƒŽ •’‡†‹‰ǡ ƒ† ƒ› ‡š’‡…–
–Š‡‹”†‘ƒ–‹‘• –‘ ˆ‹ƒ…‡ •‘…‹ƒŽ ™‡Žˆƒ”‡‘„Œ‡…–‹˜‡•Ǥ –‹• ’”‡…‹•‡Ž› „‡Ǧ
…ƒ—•‡ ‘’”‘ˆ‹–• Šƒ˜‡ ƒ –”ƒ†‹–‹‘ ‘ˆ •—……‡••ˆ—Ž ˆ—†”ƒ‹•‹‰ –Šƒ– –Š‡›
ƒ”‡ ƒ––”ƒ…–‹˜‡ ƒ• †ƒ”‘‡› ˜‡Š‹…Ž‡•Ǥ ‘”Ǧ’”‘ˆ‹–‘”‰ƒ‹œƒ–‹‘• ™‘—Ž†
Šƒ˜‡ƒ—…ŠŠƒ”†‡”–‹‡…‘˜‹…‹‰‹†‹˜‹†—ƒŽ•–‘•—’’‘”––Š‡‹”’”‘ˆǦ
‹–Ǧƒ‹‰ ’—”’‘•‡• ™‹–Š Dz…‘–”‹„—–‹‘•Ǥdz ‘•‡“—‡–Ž›ǡ –Š‡ ˆ‘”Ǧ’”‘ˆ‹–
…‘”’‘”ƒ–‡ ˆ‘” ‹‰Š– „‡ ‡ˆˆ‡…–‹˜‡ ˆ‘” ’‡‘’Ž‡ ™Š‘ ’Žƒ –‘ ˆ‹ƒ…‡ –Š‡
‡–‹”‡ ‡š’‡†‹–—”‡ –Š‡•‡Ž˜‡•ǡ „—– †‘ ‘– ™ƒ– –‘ ”‡˜‡ƒŽ –Š‡‹” ƒ…–—ƒŽ
‹†‡–‹–›ǡ„—–‹–™‘—Ž†Ž‡••‡ˆˆ‡…–‹˜‡ˆ‘”’‡‘’Ž‡Š‘’‹‰–‘”‡…‡‹˜‡†‘‘”
•—’’‘”–Ǥ
‘”Ǧ’”‘ˆ‹– ’—„Ž‹… …‘”’‘”ƒ–‹‘• ƒ”‡ ‘”‡ •‹‹Žƒ” –‘ ‘’”‘ˆ‹– ‘”Ǧ
‰ƒ‹œƒ–‹‘• –Šƒ– •‘Ž‹…‹– …‘–”‹„—–‹‘• „‡…ƒ—•‡ –Š‡› „‘–Š ”‡Ž› ‘ –Š‡
•—’’‘”–‘ˆ‹†‹˜‹†—ƒŽ•™Š‘†‘‘–Šƒ˜‡ƒƒ…–‹˜‡”‘Ž‡‹…‘–”‘ŽŽ‹‰–Š‡
‘”‰ƒ‹œƒ–‹‘Ǥ ‘ –Š‡ ‡š–‡– –Šƒ– ‘’”‘ˆ‹– Žƒ™ ‹• ‡…‡••ƒ”› –‘ ’”‘–‡…–
—™‹––‹‰†‘‘”•–‘•‘…‹ƒŽ™‡Žˆƒ”‡‘”‰ƒ‹œƒ–‹‘•ǡ…‘”’‘”ƒ–‡Žƒ™…‘—Ž†
ƒ††”‡••–Š‡’”‘„Ž‡‘ˆ—™‹––‹‰•Šƒ”‡Š‘Ž†‡”•—’’‘”–‘ˆ’‘Ž‹–‹…ƒŽƒ…Ǧ
–‹˜‹–‹‡•Ǥ Ž‡…–‹‘ Žƒ™ …‘—Ž† ”‡“—‹”‡ –Š‡ †‹•…Ž‘•—”‡‘ˆ ƒŽŽ ’‘Ž‹–‹…‹‰ ƒ…Ǧ
–‹˜‹–‹‡•„›„‘–Š–›’‡•‘ˆ‘”‰ƒ‹œƒ–‹‘•ǤŽ–‡”ƒ–‹˜‡Ž›ǡ’—„Ž‹……‘’ƒ‹‡•
…‘—Ž† „‡ ”‡“—‹”‡† –‘ †‹•…Ž‘•‡ –Š‡‹” ’‘Ž‹–‹…ƒŽ •’‡†‹‰ –‘ –Š‡‹” •Šƒ”‡Ǧ
Š‘Ž†‡”•ǤŠ‡”‡Šƒ˜‡„‡‡…ƒŽŽ•ˆ‘”–Š‡–‘‹…”‡ƒ•‡‹–•‘˜‡”•‹‰Š–‘ˆ
…‘”’‘”ƒ–‡ ’‘Ž‹–‹…ƒŽƒ…–‹˜‹–‹‡•ǡ ‹ ‘”†‡” –‘ ’”‘–‡…–…‘”’‘”ƒ–‡•Šƒ”‡Š‘Ž†Ǧ
‡”•ǡ„—–‘‰”‡••”‡…‡–Ž›’”‘Š‹„‹–‡†–Š‡ˆ”‘ƒ†‘’–‹‰•—…Š”—Ž‡•
‹ –Š‡ ‡ƒ” –‡”Ǥ ͳ͸ͻ ‹•…Ž‘•—”‡ ‹‰Š– ‡ƒ„Ž‡ •Šƒ”‡Š‘Ž†‡”• –‘ „‡––‡”
Š‘Ž†ˆ‘”Ǧ’”‘ˆ‹–…‘’ƒ‹‡•ƒ……‘—–ƒ„Ž‡ˆ‘”–Š‡‹”’‘Ž‹–‹…ƒŽ•’‡†‹‰Ǥ
06/09/2016 10:30:17
ͳ͸ͻǤ ‘•‘Ž‹†ƒ–‡† ’’”‘’”‹ƒ–‹‘• …–ǡʹͲͳ͸ǡ —„Ǥ Ǥ ‘Ǥ ͳͳͶǦͳͳ͵ǡ †‹˜Ǥ ǡ –‹–Ǥ ǡȚ ͹Ͳ͹ǡ ͳʹͻ
–ƒ–ǤʹʹͶʹǡ͵ͲʹͻǦ͵ͲȋʹͲͳͷȌǤSee also—…‹ƒǤ‡„…Š—Ƭ‘„‡”–Ǥƒ…•‘ǡ”ǤǡShining Light on
Corporate Political SpendingǡͳͲͳ
ǤǤǤͻʹ͵ȋʹͲͳ͵ȌǤ
38015-ckt_91-3 Sheet No. 53 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
STATE LAW SOLUTIONS
ͻ͵ͳ
B. Are States a Good Testing Ground for Federal Regulation?
06/09/2016 10:30:17
ͳ͹ͲǤ Š‘ƒ•Ǥ†•ƒŽŽǡ’‹‹‘ǡIs There a Silver Lining to ‹–‹œ‡•‹–‡†ǡǤǤ ȋ…–Ǥʹͺǡ
ʹͲͳͷȌǡ
Š––’ǣȀȀ™™™Ǥ›–‹‡•Ǥ…‘ȀʹͲͳͷȀͳͲȀʹͺȀ‘’‹‹‘Ȁ‹•Ǧ–Š‡”‡ǦƒǦ•‹Ž˜‡”ǦŽ‹‹‰Ǧ–‘Ǧ…‹–‹œ‡•Ǧ
—‹–‡†ǤŠ–ŽǤ
ͳ͹ͳǤ See Endorsing the Bright Lines Project Approachǡ ǡ
Š––’ǣȀȀ™™™Ǥ„”‹‰Š–Ž‹‡•’”‘Œ‡…–Ǥ‘”‰Ȁ‡†‘”•‡ȀȋŽƒ•–˜‹•‹–‡†ƒ”Ǥͳ͸ǡʹͲͳ͸ȌȋDzȏȐ’‡‡…Š–Šƒ–”‡ˆ‡”•–‘
ƒ…ƒ†‹†ƒ–‡ƒ†”‡ˆŽ‡…–•ƒ˜‹‡™‘–Šƒ–…ƒ†‹†ƒ–‡™‘—Ž†„‡…‘•‹†‡”‡†’‘Ž‹–‹…ƒŽƒ…–‹˜‹–›ǡ„—–’”‘Ǧ
–‡…–• •’‡‡…Š ˆ‘…—•‡†•‘Ž‡Ž›‘ ‹••—‡•ǡ ‰”ƒ••”‘‘–• Ž‘„„›‹‰ǡ ‘’ƒ”–‹•ƒ ˜‘–‡” ‰—‹†‡•ǡƒ† ‘–Š‡”
†‡ˆ‡•‹„Ž‡ˆ‘”•‘ˆ‡š’”‡••‹‘ǤdzȌǤ
38015-ckt_91-3 Sheet No. 53 Side A
Š‡‘•–•‹‰‹ˆ‹…ƒ–†”ƒ™„ƒ…–‘•–ƒ–‡Žƒ™”‡‰—Žƒ–‹‘ƒ”‹•‡•ˆ”‘
–Š‡Ž‹‹–‡†•…‘’‡‘ˆ–Šƒ–”‡‰—Žƒ–‹‘Ǥ–ƒ–‡•…ƒ”‡‰—Žƒ–‡’‡‘’Ž‡ǡ‘”‰ƒ‹Ǧ
œƒ–‹‘•ǡƒ†‡Ž‡…–‹‘•‹–Š‡‹”„‘”†‡”•ǡ„—–‘•–ƒ–‡…ƒƒ†‘’–ƒƒ–‹‘Ǧ
ƒŽ •‘Ž—–‹‘ –‘ –Š‡ ’”‘„Ž‡ ‘ˆ †ƒ” ‘‡› ‹ ’‘Ž‹–‹…•Ǥ ˆ ƒ ƒ–‹‘ƒŽ
•‘Ž—–‹‘ ‹• ‡…‡••ƒ”›ǡ –Š‡ ˆ‡†‡”ƒŽ ‰‘˜‡”‡– ‡‡†• –‘ ‘˜‡”…‘‡ ‹–•
…—””‡–†›•ˆ—…–‹‘Ǥ—–•–ƒ–‡ǦŽƒ™”‡‰—Žƒ–‹‘ƒ›„‡–Š‡™ƒ›–‘•–ƒ”–
‘˜‹‰ –‘™ƒ”†• ƒ ˆ‡†‡”ƒŽ •‘Ž—–‹‘Ǥ ˆ Ž‡‰ƒŽ ‡š’‡”‹‡–ƒ–‹‘ ‹• †‡•‹”ƒǦ
„Ž‡ǡ •–ƒ–‡ǦŽƒ™ ”‡‰—Žƒ–‹‘ …‘—Ž† „‡ –Š‡ ‹†‡ƒŽ ™ƒ› –‘ –”› †‹ˆˆ‡”‡– ƒ’Ǧ
’”‘ƒ…Š‡•–Šƒ–…‘—Ž†‘’‡”ƒ–‡ƒ•‘†‡Ž•ˆ‘”‡˜‡–—ƒŽˆ‡†‡”ƒŽ”‡‰—Žƒ–‹‘Ǥ
Š‡ˆ‡†‡”ƒŽ‰‘˜‡”‡–ǯ•’ƒ”ƒŽ›•‹•Šƒ•ƒŽ”‡ƒ†›‡…‘—”ƒ‰‡†‘˜‡Ž’—„Ǧ
Ž‹… ˆ‹ƒ…‹‰ •›•–‡• ‹ •‘‡•–ƒ–‡•ǡ •‘ ‡š’‡”‹‡–ƒ–‹‘ ‹• ƒŽ”‡ƒ†› ‹
’”‘‰”‡••Ǥ ͳ͹Ͳ
”‘ƒŽ‡‰ƒŽ’‡”•’‡…–‹˜‡ǡ‡š’‡”‹‡–ƒ–‹‘‹•†‡•‹”ƒ„Ž‡–‘–‡•––Š‡
…‘•–‹–—–‹‘ƒŽ Ž‹‹–• ‘ˆ ‰‘˜‡”‡– ”‡‰—Žƒ–‹‘Ǥ „ƒŽƒ…‡ —•– „‡
•–”—… „‡–™‡‡ ’”‘–‡…–‹‰ ˆ”‡‡ •’‡‡…Š ‘ ‘‡ Šƒ†ǡ ƒ† ’”‡˜‡–‹‰
…‘””—’–‹‘ǡ †‡…‡’–‹‘ ƒ† ƒ„—•‡ ‘ –Š‡ ‘–Š‡”Ǥ ‹ˆˆ‡”‡– •–ƒ–‡• ‹‰Š–
…ƒŽ‹„”ƒ–‡ ‹– †‹ˆˆ‡”‡–Ž›ǡ ™‹–Š •‘‡ ”—Ž‡• ˆƒ‹Ž‹‰ –‘ ’ƒ•• …‘•–‹–—–‹‘ƒŽ
—•–‡”ƒ†‘–Š‡””—Ž‡•ˆƒ‹Ž‹‰–‘•—„•–ƒ–‹ƒŽŽ›‹–‹‰ƒ–‡–Š‡’”‘„Ž‡•Ǥ
‹˜‡”•‹–› ‹ ƒ’’”‘ƒ…Š‡• ™‘—Ž† „‡ ’ƒ”–‹…—Žƒ”Ž› —•‡ˆ—Ž ‹ †‡ˆ‹‹‰
–Š‡ƒ…–‹˜‹–‹‡••—„Œ‡…––‘”‡‰—Žƒ–‹‘Ǥ†‡ˆ‹‹–‹‘ˆ‘”’‘Ž‹–‹…‹‰ƒ…–‹˜‹–›
‹•‡…‡••ƒ”›ˆ‘””‡‰—Žƒ–‹‰‹–ǡ„—––Šƒ–†‡ˆ‹‹–‹‘Šƒ•–Š—•ˆƒ”„‡‡…”‹’Ǧ
’Ž‹‰Ž› …‘–”‘˜‡”•‹ƒŽȄ–Š‡ ˆ‡†‡”ƒŽ –ƒš ”‡‰—Žƒ–‹‘• ‹’Ž‘†‡† ‘ –Šƒ–
†‡ˆ‹‹–‹‘Ǥ‹…‡–Š‡”‡‹••‘—…Š”‹†‹‰‘‹–•’”‡…‹•‡…‘–‘—”•ǡ‹–ƒ›
„‡ –‘‘ ˆ”ƒ—‰Š– ˆ‘” –Š‡ ˆ‡†‡”ƒŽ ‰‘˜‡”‡– –‘ ƒ––‡’– –‘ ‹’‘•‡ ‘‡
ƒ’’”‘ƒ…Š™‹–Š‘—––‡•–‹‰†‹ˆˆ‡”‡–…Š‘‹…‡•Ǥ–™‹ŽŽŽ‹‡Ž›–ƒ‡•‘‡–”‹ƒŽ
ƒ†‡””‘”–‘•‡’ƒ”ƒ–‡–Š‡…ƒ–‡‰‘”›‘ˆ’‘Ž‹–‹…‹‰ˆ”‘–Š‡…ƒ–‡‰‘”›‘ˆ
”‡•‡ƒ”…Šƒ†‡†—…ƒ–‹‘Ǥ‘‡•–ƒ–‡•…‘—Ž†ƒ†‘’–„”‹‰Š–Ž‹‡•ǡ ͳ͹ͳ™Š‹Ž‡
‘–Š‡”•…‘—Ž†‡š’‡”‹‡–™‹–Šƒˆƒ…–•ƒ†…‹”…—•–ƒ…‡•†‡ˆ‹‹–‹‘•‡Ǧ
•‹–‹˜‡–‘–Š‡‘”‰ƒ‹œƒ–‹‘ǯ•‘–Š‡”ƒ…–‹˜‹–‹‡•ǡ–Š‡…‘–‡š–‹™Š‹…Š’‘Ž‹–‹Ǧ
…ƒŽ…‘—‹…ƒ–‹‘• –ƒ‡’Žƒ…‡ǡƒ† –Š‡‹ˆŽ—‡…‡ƒ ‘”‰ƒ‹œƒ–‹‘ Šƒ•
38015-ckt_91-3 Sheet No. 53 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻ͵ʹ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
‘ƒ’ƒ”–‹…—Žƒ”‹••—‡Ǥ ͳ͹ʹ‘‡•–ƒ–‡•…‘—Ž††”ƒˆ–„”‘ƒ††‡ˆ‹‹–‹‘•ƒ†
ƒŽŽ‘™ ‘”‡ Ž‡‡™ƒ› ˆ‘”‘”‰ƒ‹œƒ–‹‘• –‘‡‰ƒ‰‡ ‹•—…Š …‘†—…– ™‹–ŠǦ
‘—–„—”†‡ǡ™Š‹Ž‡‘–Š‡”•…‘—Ž†ƒ†‘’–‘”‡–ƒ”‰‡–‡†”‡“—‹”‡‡–•„—–
ƒ†ƒ–‡‰”‡ƒ–‡””‡‰—Žƒ–‹‘ǤŠ‡•‡ƒ”‡–Š‡“—‡•–‹‘•–Šƒ–•™‹”Žƒ”‘—†
ƒ› ˆ‡†‡”ƒŽ ”‡‰—Žƒ–‹‘•ǡ „—– –Š‡ Žƒ…• –Š‡ ƒ„‹Ž‹–› –‘ –”› —Ž–‹’Ž‡
ƒ’’”‘ƒ…Š‡• ƒ– ‘…‡Ǥ ‹ˆˆ‡”‡– •–ƒ–‡• …‘—Ž† ƒ†‘’– †‹ˆˆ‡”‡– †‡ˆ‹‹–‹‘•
ƒ†…”‡ƒ–‡ƒ‡š’‡”‹‡––Šƒ–”‡˜‡ƒŽ•™Š‹…Š†‡ˆ‹‹–‹‘•…ƒ™‹–Š•–ƒ†
Œ—†‹…‹ƒŽ•…”—–‹›ǡƒ†™Š‹…Š†‡ˆ‹‹–‹‘•‘’‡”ƒ–‡‘•–‡ˆˆ‡…–‹˜‡Ž›Ǥ
Š‡†‹ˆˆ‡”‡…‡„‡–™‡‡ƒŽ‹ˆ‘”‹ƒƒ†‡™‘”Žƒ™…‘—Ž†’”‘˜‡
–‘„‡‹•–”—…–‹˜‡…‘…‡”‹‰–Š‡‹’‘”–ƒ…‡‘ˆŽ‘‘‹‰–Š”‘—‰Š‘”‰ƒ‹Ǧ
œƒ–‹‘• –‘ ‹†‡–‹ˆ› –Š‡‹” —Ž–‹ƒ–‡ †‘‘”•Ǥ Š‡ †‹ˆˆ‡”‡…‡• ‹ –Š‡ ”—Ž‡•
‰‹˜‡ ƒ ƒ–—”ƒŽ ‡š’‡”‹‡– ƒ„‘—– –Š‡ ‡ˆˆ‡…–• ‘ˆ †‹ˆˆ‡”‡– ‡š’‡†‹–—”‡
–Š”‡•Š‘Ž†• ƒ† –‹‹‰ ”—Ž‡•Ǥ ‘–Š •–ƒ–‡• …ƒ ‘‹–‘” –Š‡ ‡ˆˆ‡…–• –Š‡‹”
”—Ž‡•Šƒ˜‡‘–Š‡’”‡˜ƒŽ‡…‡‘ˆ†ƒ”‘‡›‹•–ƒ–‡’‘Ž‹–‹…•Ǥˆˆ‡…–‹˜‡Ǧ
‡••ƒ›ƒŽ•‘†‡’‡†‘Š‘™‡š…‡’–‹‘•ƒ”‡†‡•‹‰‡†Ǥ‹ˆˆ‡”‡–•–ƒ–‡•
‹‰Š– ƒŽŽ‘™ †‹ˆˆ‡”‡– Ž‡˜‡Ž• ‘ˆ ’”‘–‡…–‡† ƒ‘›‹–› ˆ‘” •ƒŽŽ †‘‘”•ǡ
‘”…‘–”‘˜‡”•‹ƒŽ…ƒ—•‡•ǡˆ‘”‡šƒ’Ž‡Ǥ
C. Is Disclosure Worth the Trouble?
38015-ckt_91-3 Sheet No. 53 Side B
Š‹Ž‡†‹•…Ž‘•—”‡•‡‡•ƒ‘”‡’”‘‹•‹‰•‘Ž—–‹‘–Šƒ•—„•–ƒǦ
–‹˜‡”‡‰—Žƒ–‹‘„‡…ƒ—•‡‹–‹•‘”‡Ž‹‡Ž›–‘™‹–Š•–ƒ†Œ—†‹…‹ƒŽ•…”—–‹›ǡ
–Š‡”‡ ƒ”‡ •‡”‹‘—• †‘™•‹†‡• –‘ †‹•…Ž‘•—”‡ –Šƒ– •Š‘—Ž† „‡ ™‡‹‰Š‡† ‹
‡˜ƒŽ—ƒ–‹‰‹–Ǥ‘•–…”—…‹ƒŽŽ›ǡ†‹•…Ž‘•—”‡‹•‘–†‡•‹‰‡†–‘•–‘’„ƒ†„‡Ǧ
Šƒ˜‹‘”ǡŒ—•––‘”‡˜‡ƒŽ‹ˆ‘”ƒ–‹‘–‘˜‘–‡”•ǡ†‘‘”•ǡƒ†Žƒ™‡ˆ‘”…‡”•Ǥ
‹”•– ‡†‡– †‘…–”‹‡ ‹’Ž‹‡• –Šƒ– –Š‡ •–ƒ–‡ǯ• ‰‘ƒŽ …ƒ‘– „‡ –Š‡
•‹Ž‡…‹‰ ‘ˆ ’‘Ž‹–‹…ƒŽ •’‡‡…Šǡ „—– –Š‡”‡ ‹• Ž‹––Ž‡ †‘—„– –Šƒ– ‘‡ ‘ˆ –Š‡
’‘Ž‹…‹‡•„‡Š‹†”‡‰—Žƒ–‹‘‘ˆ†ƒ”‘‡›‹•–‘”‡†—…‡–Š‡‹ˆŽ—‡…‡‘ˆ
ƒ‘›‘—• •’‡‡…Š ‹ –Š‡ ’‘Ž‹–‹…ƒŽ ’”‘…‡••Ǥ Š‡ ’‘™‡” ‘ˆ –Šƒ– •’‡‡…Š
ƒ› †‡’‡† ‹ ’ƒ”– ‘ –Š‡ ƒ‘›‹–› ‘ˆ –Š‡ •’‡ƒ‡”ǡ „—– ‡˜‡ ™‹–Š
†‘‘”†‹•…Ž‘•—”‡ǡ’‘Ž‹–‹…ƒŽ†‹•…‘—”•‡‹•—Ž‹‡Ž›–‘„‡…‘‡•—„•–ƒ–‹ƒŽŽ›
‘”‡„ƒŽƒ…‡†™‹–Š‘—–•—„•–ƒ–‹˜‡”‡‰—Žƒ–‹‘Ǥ
ˆ –Š‡ ˆ—…–‹‘ ‘ˆ ’—„Ž‹… †‘‘” †‹•…Ž‘•—”‡ ‹• –‘ ‹ˆ‘” ˜‘–‡”•ǡ ‹–•
•—……‡•• †‡’‡†• ‘ ˜‘–‡”• ‘™‹‰ ™Š‘ –Š‡ †‘‘”• ƒ”‡ ƒ† —†‡”Ǧ
•–ƒ†‹‰–Š‡•‹‰‹ˆ‹…ƒ…‡‘ˆ–Š‡‹”‹–‡”‡•–ǤŠ‡”‡ƒ”‡ˆ‡™’‡‘’Ž‡™Š‘•‡
˜‹‡™•ƒ”‡™‹†‡Ž›—†‡”•–‘‘†–‘”‡’”‡•‡–ƒ’ƒ”–‹…—Žƒ”’‡”•’‡…–‹˜‡–Šƒ–
Šƒ•‡ƒ‹‰–‘˜‘–‡”•ȋ–Š‡‘…Š„”‘–Š‡”•ǡ
‡‘”‰‡‘”‘•ȌǤ‘™‹‰ƒ
06/09/2016 10:30:17
ͳ͹ʹǤ Š‹• ™ƒ• –Š‡ ƒ’’”‘ƒ…Š ‘ˆ –Š‡ ™‹–Š†”ƒ™ ȋ…ȌȋͶȌ ”‡‰—Žƒ–‹‘•Ǥ See —‹†ƒ…‡ ˆ‘” ƒšǦ
š‡’– ‘…‹ƒŽ ‡Žˆƒ”‡ ”‰ƒ‹œƒ–‹‘• ‘ ƒ†‹†ƒ–‡Ǧ‡Žƒ–‡† ‘Ž‹–‹…ƒŽ …–‹˜‹–‹‡•ǡ ͹ͺ ‡†Ǥ ‡‰Ǥ
͹ͳǡͷ͵ͷȋ’”‘’‘•‡†‘˜ǤʹͻǡʹͲͳ͵Ȍȋ–‘„‡…‘†‹ˆ‹‡†ƒ–ʹ͸ǤǤǤ’–ǤͳȌǤ
38015-ckt_91-3 Sheet No. 54 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
STATE LAW SOLUTIONS
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ͻ͵͵
‹†‹˜‹†—ƒŽǯ• ƒ††”‡•• ‘” ‡’Ž‘›‡”Ȅ–Š‡ ‹ˆ‘”ƒ–‹‘ –Šƒ– †‘‘”• ’”‘Ǧ
˜‹†‡—†‡”‡Ž‡…–‹‘Žƒ™Ȅ†‘‡•‘–”‡˜‡ƒŽ—…Šƒ„‘—–’‘••‹„Ž‡„‹ƒ•‹
–Š‡‹”˜‹‡™•Ǥ‡™˜‘–‡”•ƒ”‡Ž‹‡Ž›–‘‹˜‡•–‹‰ƒ–‡†‘‘”••—ˆˆ‹…‹‡–Ž›–‘
—•‡ –Š‹• ‹ˆ‘”ƒ–‹‘ ™‡ŽŽǤ ͳ͹͵ ‘•‡“—‡–Ž›ǡ †‹•…Ž‘•—”‡ †‡•‹‰‡† –‘ ‹Ǧ
ˆ‘” ˜‘–‡”• †‡’‡†• ‘ –Š‡ ‡†‹ƒ Š‹‰ŠŽ‹‰Š–‹‰ ”‡Ž‡˜ƒ– ‹ˆ‘”ƒ–‹‘
ȋƒ† ƒ‹‰ ‹– •‡‡ ˆ—ȌǢ –Š‡New York Times Šƒ• ƒ ‹–‡”ƒ…–‹˜‡ˆ‡ƒǦ
–—”‡ ‘ ™Š‘ ‹• ˆ—†‹‰ –Š‡ ʹͲͳ͸ ’”‡•‹†‡–‹ƒŽ ‡Ž‡…–‹‘Ǥ ͳ͹Ͷ —– ‡†‹ƒ
’Žƒ›‡”•†‘‘–‡…‡••ƒ”‹Ž›…‘—‹…ƒ–‡–Š‡‹ˆ‘”ƒ–‹‘ˆƒ‹”Ž›‘”ƒ……—Ǧ
”ƒ–‡Ž›Ȅ–Š‡›ƒ”‡‘–”‡‰—Žƒ–‡†„›–Š‡•–ƒ–‡Ǥ‹ƒ•‡†”‡’‘”–‹‰ƒ„‘—––Š‡
†‹•…Ž‘•‡†‹ˆ‘”ƒ–‹‘…‘—Ž†ˆ—”–Š‡”†‹•–‘”––Š‡’‘Ž‹–‹…ƒŽ’”‘…‡••Ǥ ͳ͹ͷ
ˆ–Š‡’‘Ž‹…›‰‘ƒŽ‹•–‘’”‘–‡…–†‘‘”•–‘–Š‡‘”‰ƒ‹œƒ–‹‘•ǡ•‹‹Žƒ”
…‘…‡”• ƒ„‘—– ‡ˆˆ‡…–‹˜‡‡•• ƒ”‹•‡Ǥ ‡•’‹–‡ ƒ ™‡ƒŽ–Š ‘ˆ ’—„Ž‹… ‹ˆ‘”Ǧ
ƒ–‹‘ ƒ„‘—– …Šƒ”‹–‹‡•ǡ …Šƒ”‹–ƒ„Ž‡ †‘‘”• †‘ ‘– ‡†—…ƒ–‡ –Š‡•‡Ž˜‡•
’ƒ”–‹…—Žƒ”Ž› ™‡ŽŽǤ ͳ͹͸ ‘”‡‹ˆ‘”ƒ–‹‘ ƒ„‘—– ‘…Šƒ”‹–ƒ„Ž‡ ‘’”‘ˆ‹–•
‹•—Ž‹‡Ž› –‘ƒ‡ †‘‘”• •‹‰‹ˆ‹…ƒ–Ž› „‡––‡”‹ˆ‘”‡†Ǥƒ‰—‡ ”‡ˆ‡”Ǧ
‡…‡• –‘ ‡ˆˆ‘”–• –‘ ‹’”‘˜‡ –Š‡ ‡…‘‘› ‘” ’”‘–‡…– ™‘‡ǯ• Š‡ƒŽ–Š
™‘—Ž†„‡‹•—ˆˆ‹…‹‡––‘„‡––‡”‡†—…ƒ–‡†‘‘”•Ȅ–Š‘•‡ƒ”‡–Š‡‡••ƒ‰Ǧ
‡•–Šƒ–†‘‘”•…—””‡–Ž›”‡…‡‹˜‡™Š‡–Š‡›…‘–”‹„—–‡–‘ȋ…ȌȋͶȌ‘”‰ƒ‹Ǧ
œƒ–‹‘•Ǥ‘ Šƒ˜‡ ƒ›‡ˆˆ‡…–ǡ•–ƒ–‡•‹‰Š–Šƒ˜‡ –‘ƒ†ƒ–‡ –Šƒ– ’‡‘’Ž‡
•‘Ž‹…‹–‹‰ …‘–”‹„—–‹‘• –‘ ȋ…ȌȋͶȌ ‘”‰ƒ‹œƒ–‹‘• ‡š’Ž‹…‹–Ž› –‡ŽŽ †‘‘”•
ƒ„‘—––Š‡…ƒ’ƒ‹‰ƒ…–‹˜‹–‹‡•‘ˆ–Š‡‘”‰ƒ‹œƒ–‹‘Ǥͳ͹͹
Š‡”‡”‡‰—Žƒ–‹‘•”‡“—‹”‡†‹•…Ž‘•—”‡–‘–Š‡•–ƒ–‡ǡ„—–‘––Š‡’—„Ǧ
Ž‹…ǡŽƒ™‡ˆ‘”…‡‡–†‡’‡†•‘•–ƒ–‡‘ˆˆ‹…‹ƒŽ•‹†‡–‹ˆ›‹‰‹””‡‰—Žƒ”‹–‹‡•
‹ –Š‡ †‹•…Ž‘•—”‡• –‘ ‹˜‡•–‹‰ƒ–‡ ƒ† ’”‘•‡…—–‡ǤŠƒ– †‹•…Ž‘•—”‡‹• ‘–
38015-ckt_91-3 Sheet No. 54 Side A
06/09/2016 10:30:17
ͳ͹͵Ǥ ƒ”ƒƒŽŽ‘›Ƭ”ƒ†Ž‡›Ǥ‹–ŠǡTranscript: A Debate on Campaign Finance Disclosureǡ͵ͺ
ǤǤǤͻ͵͵ǡͻͶͲȋʹͲͳͶȌȋDzȏȐ‘™ƒ›‘ˆ›‘—ƒ…–—ƒŽŽ›‰‘–‘–Š‡™‡„•‹–‡ƒ†Ž‘‘—’™Š‘‹•
‰‹˜‹‰ ‘‡› –‘ ›‘—” …ƒ†‹†ƒ–‡ •‘ ›‘— …ƒ †‡–‡”‹‡ Š‘™ –‘ ˜‘–‡ǫ ‘– ˜‡”› ƒ›Ǥ † –Š‹•
…”‘™†ȏƒ––Š‡•›’‘•‹—Ȑ‹•‰‘‹‰–‘„‡ƒŽ‘–‘”‡Ž‹‡Ž›–‘†‘•‘–Šƒ›‘—”–›’‹…ƒŽƒ—†‹‡…‡ǤdzȌǢ
Ǥ ǡǤ ǡ ǣ ͺȋʹͲͳͳȌǡ
Š––’ǣȀȀ™™™Ǥ‹ŒǤ‘”‰Ȁ‹ƒ‰‡•Ȁ’†ˆ̴ˆ‘Ž†‡”Ȁ‘–Š‡”̴’—„•Ȁˆ—ŽŽ†‹•…Ž‘•—”‡Ǥ’†ˆǤ
ͳ͹ͶǤ ‹…Š‘Žƒ•‘ˆ‡••‘”‡‡–ƒŽǤǡThe Families Funding the 2016 Presidential ElectionǡǤǤ
ȋ…–ǤͳͲǡʹͲͳͷȌǡ
Š––’ǣȀȀ™™™Ǥ›–‹‡•Ǥ…‘Ȁ‹–‡”ƒ…–‹˜‡ȀʹͲͳͷȀͳͲȀͳͳȀ—•Ȁ’‘Ž‹–‹…•ȀʹͲͳ͸Ǧ’”‡•‹†‡–‹ƒŽǦ‡Ž‡…–‹‘Ǧ
•—’‡”Ǧ’ƒ…Ǧ†‘‘”•ǤŠ–Žǫ”‡ˆα’‘Ž‹–‹…•Ǥ
ͳ͹ͷǤ ƒ•‡’–‹…ƒŽ‘ˆ‡†‹ƒ‡ˆ‘”…‡‡–‘ˆŽ‡‰ƒŽ•–ƒ†ƒ”†•ǤSee‹†ƒ—‰‹ǡStrengthening
Charity Law: Replacing Media Oversight with Advance Rulings for Nonprofit FiduciariesǡͺͻǤ Ǥ
Ǥͺ͸ͻȋʹͲͳͷȌǤ
ͳ͹͸Ǥ ‘”‡šƒ’Ž‡ǡ…‘•—‡”•‡‡†–‘„‡™ƒ”‡†–‘”‡•‡ƒ”…ŠŠ‘™ƒ…Šƒ”‹–›™‹ŽŽŠƒ†Ž‡’”‹Ǧ
˜ƒ–‡‹ˆ‘”ƒ–‹‘ ƒ†™Š‡–Š‡”–Š‡…Šƒ”‹–›‹• Ž‡‰‹–‹ƒ–‡ ‹–Š‡ ˆ‹”•– ’Žƒ…‡Ǥ See ƒ””•ǡ Before
Giving, Check Out Charities and Their Policies on Privacyǡ ǤǤ ȋ‡…Ǥ ͳǡ ʹͲͳͷȌǡ
Š––’ǣȀȀ™™™Ǥ›–‹‡•Ǥ…‘ȀʹͲͳͷȀͳʹȀͲʹȀ›‘—”Ǧ‘‡›Ȁ„‡ˆ‘”‡Ǧ‰‹˜‹‰Ǧ…Š‡…Ǧ‘—–Ǧ…Šƒ”‹–‹‡•Ǧƒ†Ǧ
–Š‡‹”Ǧ’‘Ž‹…‹‡•Ǧ‘Ǧ’”‹˜ƒ…›ǤŠ–ŽǤ
ͳ͹͹Ǥ – ‹• ‘– …Ž‡ƒ” –Šƒ– –Š‹• ™‘—Ž† ™‹–Š•–ƒ† …‘•–‹–—–‹‘ƒŽ •…”—–‹› —†‡” –Š‡ Riley Ž‹‡ ‘ˆ
…ƒ•‡•ǤSee supra‘–‡ʹͳƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
38015-ckt_91-3 Sheet No. 54 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻ͵Ͷ
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
06/09/2016 10:30:17
ͳ͹ͺǤ –Š‘›‘”ǡList Unmasks Secret Donors to California Initiative CampaignsǡǤǤ ȋ…–Ǥ ʹͶǡ ʹͲͳ͵Ȍǡ Š––’ǣȀȀƒ”–‹…Ž‡•ǤŽƒ–‹‡•Ǥ…‘ȀʹͲͳ͵Ȁ‘…–ȀʹͶȀŽ‘…ƒŽȀŽƒǦ‡Ǧ’…Ǧ•‡…”‡–Ǧ†‘‘”•Ǧ
…ƒŽ‹ˆ‘”‹ƒǦ‹‹–‹ƒ–‹˜‡•ǦʹͲͳ͵ͳͲʹͶǤ
ͳ͹ͻǤ Š‡•‡ Šƒ˜‡ ƒŽ™ƒ›• „‡‡ ”‡’‘”–‡†ǡ ƒ† ‘™ –Š‡› ƒ”‡ ‡ƒ•› –‘ ƒ……‡••Ǥ See Transaction
Query by Individual ContributorǡǤǯǡ
Š––’ǣȀȀ™™™Ǥˆ‡…Ǥ‰‘˜Ȁˆ‹ƒ…‡Ȁ†‹•…Ž‘•—”‡Ȁ‘”‹†•‡ƒǤ•Š–ŽǡȋŽƒ•–˜‹•‹–‡†ƒ”Ǥ ͳ͸ǡ ʹͲͳ͸Ȍ ȋ’”‘˜‹†‹‰
ƒ •‡ƒ”…Š ‘ˆ …‘–”‹„—–‹‘• „› ‹†‹˜‹†—ƒŽ ƒ‡ȌǢ see also Ǥ
ǡ
Š––’•ǣȀȀ™™™Ǥ‘’‡•‡…”‡–•Ǥ‘”‰Ȁ ȋŽƒ•– ˜‹•‹–‡† ƒ”Ǥ ͳ͸ǡ ʹͲͳ͸Ȍ ȋ™‡„•‹–‡ –”ƒ…‹‰ –Š‡ ‹ˆŽ—‡…‡ ‘ˆ
‘‡›‘ǤǤ’‘Ž‹–‹…•ȌǤ
ͳͺͲǤ See‡‹•‡”ǡsupra‘–‡ͳͲ͹Ǥ
ͳͺͳǤ ‘”‡šƒ’Ž‡ǡ‘”‰ƒ‹œƒ–‹‘•ƒ”‡Ž‹‡Ž›–‘ƒƒ‰‡–Š‡‹”‡š’‡†‹–—”‡•–‘”‡ƒ‹•Š›‘ˆ–Š‡
̈́ͷͲǡͲͲͲƒŽ‹ˆ‘”‹ƒƒ”‹ˆ–Š‡›…ƒǤ
38015-ckt_91-3 Sheet No. 54 Side B
†‡•‹‰‡† –‘ ’”‘†—…‡ ™‹†‡•’”‡ƒ† ’—„Ž‹… ‘™Ž‡†‰‡ǡ •‘ –Š‡ ‡ˆˆ‡…– ‹–
‹‰Š–Šƒ˜‡‘˜‘–‡”•‘”†‘‘”•‹•Ž‹‡Ž›–‘„‡•ƒŽŽǤ‹–Š‘Ž›ƒ”‡‘–‡
…Šƒ…‡ ‘ˆ ‡ˆ‘”…‡‡– ƒ† –Š‡ ’—„Ž‹… ‡„ƒ””ƒ••‡– –Šƒ– ‹‰Š– ƒ…Ǧ
…‘’ƒ› ‹–ǡ –Š‡”‡ ƒ› „‡ Ž‹––Ž‡ †‹•‹…‡–‹˜‡ ˆ‘” ‹†‹˜‹†—ƒŽ• –‘ …—”–ƒ‹Ž
–Š‡‹”‡š’‡†‹–—”‡•Ǥ
ˆƒŽ‹ˆ‘”‹ƒ™ƒ–•–‘‡‡’‘—–Ǧ‘ˆǦ•–ƒ–‡‘‡›ˆ”‘‹ˆŽ—‡…‹‰‹–•
„ƒŽŽ‘– ‹‹–‹ƒ–‹˜‡•ǡ ‹–• ‡™ ”‡‰—Žƒ–‹‘• ƒ”‡ —Ž‹‡Ž› –‘ •—……‡‡† ‹ †‘‹‰
–Šƒ–Ǥ —–Ǧ‘ˆǦ•–ƒ–‡ ƒ…–‘”• ƒ› ‘™ Šƒ˜‡ Ž‡•• ‹ˆŽ—‡…‡ ‹ „ƒŽŽ‘– ‹‹–‹ƒǦ
–‹˜‡•Ȅ‹ˆƒŽ‹ˆ‘”‹ƒ˜‘–‡”•†‹•…‘—––Š‡‹”‡••ƒ‰‡‘™‹‰–Š‡‹”‹†‡–‹Ǧ
–›Ǥ‘‡’‘Ž‹–‹…ƒŽ‡••ƒ‰‡•‹‰Š–„‡Ž‡••™‡ŽŽǦˆ—†‡†–Šƒ–Š‡›™‘—Ž†
‘–Š‡”™‹•‡„‡„‡…ƒ—•‡‹†‹˜‹†—ƒŽ•”‡ˆ—•‡–‘’—„Ž‹…Ž›•—’’‘”–™Šƒ––Š‡›
‹‰Š–•—’’‘”–’”‹˜ƒ–‡Ž›Ǥ–™ƒ•‡„ƒ””ƒ••‹‰ˆ‘”–Š‡‘™‡”•‘ˆ–Š‡
ƒ’
™Š‡–Š‡›™‡”‡”‡˜‡ƒŽ‡†–‘„‡ƒŒ‘”†‘‘”•–‘…ƒ’ƒ‹‰•–‘†‡ˆ‡ƒ–ƒ
–ƒš‡ƒ•—”‡ƒ†™‡ƒ‡Žƒ„‘”—‹‘•‹ƒŽ‹ˆ‘”‹ƒǤͳ͹ͺ—––Šƒ–‡„ƒ”Ǧ
”ƒ••‡–™‹ŽŽ‘™•‹’Ž›„‡ƒˆƒ…–‘”–‘™‡‹‰Šƒ‰ƒ‹•––Š‡„‡‡ˆ‹–•–‘
„‡ Šƒ† ˆ”‘ •—’’‘”–‹‰ –Š‡ ‡ƒ•—”‡ ’—„Ž‹…Ž›Ǥ Š‹Ž‡ •‘‡ ‹••—‡• ‘”
…ƒ†‹†ƒ–‡•™‹ŽŽ‘–ƒ‡–Š‡‰”ƒ†‡ǡƒ›†‘‘”•™‹ŽŽ•‹’Ž›„‹–‡–Š‡
„—ŽŽ‡–Ȅƒ• –Š‡› Ž‘‰ Šƒ˜‡ ˆ‘” …‘–”‹„—–‹‘• ƒ†‡ †‹”‡…–Ž› –‘ …ƒ†‹Ǧ
†ƒ–‡•ǡ’‘Ž‹–‹…ƒŽƒ…–‹‘…‘‹––‡‡•ǡƒ†’‘Ž‹–‹…ƒŽ’ƒ”–‹‡•Ǥ ͳ͹ͻ
‰ƒ‹•––Š‡Ž‹‹–‡†‡ˆˆ‡…–‹˜‡‡••‘ˆ†‹•…Ž‘•—”‡ƒ•ƒ”‡‡†›ǡ•–ƒ–‡•
—•– ™‡‹‰Š –Š‡ „—”†‡ ‘ˆ …‘’Ž‹ƒ…‡ ‘ ‘”‰ƒ‹œƒ–‹‘•Ǥ ††‹–‹‘ƒŽ
”‡’‘”–‹‰”‡“—‹”‡‡–•‡ƒ•†‹˜‡”•‹‘‘ˆ”‡•‘—”…‡•–‘™ƒ”†•”‡…‘”†Ǧ
‡‡’‹‰ǡ”ƒ–Š‡”–Šƒ…‘”‡‘”‰ƒ‹œƒ–‹‘ƒŽƒ…–‹˜‹–‹‡•ǤŠ‹•‹•ƒ’‡”‡‹ƒŽ
‹••—‡‹–Š‡”‡‰—Žƒ–‹‘‘ˆ…Šƒ”‹–‹‡•ǤͳͺͲˆ–Š‡‰‘ƒŽ‘ˆ–Š‡”‡‰—Žƒ–‹‘‹•–‘
…”‡ƒ–‡ˆ”‹…–‹‘„›‹…”‡ƒ•‹‰–Š‡’”‹…‡‘ˆ…ƒ’ƒ‹‰ƒ…–‹˜‹–‹‡•ǡ–Š‡–Š‹•
…‘•–‹‰Š–„‡•‡‡ƒ•ƒƒ†˜ƒ–ƒ‰‡ǣ‹–…‘—Ž†‹…‡–‹˜‹œ‡•‘‡‘’”‘ˆ‹–
‘”‰ƒ‹œƒ–‹‘• –‘ ‡‰ƒ‰‡ ‹ ˆ‡™‡” …ƒ’ƒ‹‰ ƒ…–‹˜‹–‹‡•ǡ ƒ† †‡˜‘–‡ ƒ
‰”‡ƒ–‡” ’‡”…‡–ƒ‰‡ ‘ˆ ”‡•‘—”…‡• –‘ ‘–Š‡” ’—”’‘•‡•Ǥ —– ‘”‰ƒ‹œƒ–‹‘•
ƒ”‡ •–‹ŽŽ Ž‹‡Ž› –‘ •’‡† …‘•‹†‡”ƒ„Ž‡ ‡‡”‰› ƒ––‡’–‹‰ –‘ ƒ˜‘‹† ”‡Ǧ
’‘”–‹‰ –Š”‡•Š‘Ž†•ǡ ͳͺͳ ƒ† †‘‘”• ƒ› …Šƒ‰‡ –Š‡ –‹‹‰ ƒ†Ȁ‘”
38015-ckt_91-3 Sheet No. 55 Side A
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ʹͲͳ͸Ȑ
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
STATE LAW SOLUTIONS
ͻ͵ͷ
ƒ‘—– ‘ˆ –Š‡‹” —”‡•–”‹…–‡† …‘–”‹„—–‹‘•‹ ‘”†‡” –‘ ”‡ƒ‹ƒ‘›Ǧ
‘—•Ǥ
‘–Š‡” …‘…‡” ‹• –Šƒ– –Š‡•‡ ”—Ž‡• ‹‰Š– ‘– „‡ ‡ˆˆ‡…–‹˜‡ ‹
’”‘˜‹†‹‰ ‹ˆ‘”ƒ–‹‘ –Šƒ– …‘•–‹–—–‡• ‡ƒ‹‰ˆ—Ž †‹•…Ž‘•—”‡ǡ ‡˜‡ ‹ˆ
‘”‰ƒ‹œƒ–‹‘•ˆ—ŽŽ›…‘’Ž›™‹–Š–Š‡Ž‡––‡”‘ˆ–Š‡”—Ž‡•ǤŠ‡’”‘„Ž‡‘ˆ
†ƒ”‘‡›ƒ”‹•‡•‘ƒ……‘—–‘ˆ†ƒ‹•›…Šƒ‹•‘ˆ‘”‰ƒ‹œƒ–‹‘••‹’Š‘Ǧ
‹‰ˆ—†•–‘‘‡ƒ‘–Š‡”Ǥ–ƒ›„‡‹’‘••‹„Ž‡–‘‰‡––‘ƒ›‡ƒ‹‰ˆ—Ž
‹ˆ‘”ƒ–‹‘ ƒ„‘—– †‘‘”•ǡ ‡˜‡ ‹ˆ –Š‡”‡ ‹• ˆ—ŽŽ †‹•…Ž‘•—”‡ ’—”•—ƒ– –‘
–Š‡Žƒ™ǤƒŽ‹ˆ‘”‹ƒǯ•”—Ž‡ƒ‡•ƒƒ––‡’––‘ˆ‘ŽŽ‘™–Š”‘—‰Š–Š‡…Šƒ‹
‘ˆ‘”‰ƒ‹œƒ–‹‘•ǡ„—–‡™‘”ǯ•”—Ž‡†‘‡•‘–ǡƒ‹‰‹–‡ƒ•›–‘Dzˆ—ŽŽ›
†‹•…Ž‘•‡dz™Š‹Ž‡”‡ƒ‹‹‰…‘’Ž‡–‡Ž›‘’ƒ“—‡Ǥ
‘…Šƒ”‹–ƒ„Ž‡ ‘’”‘ˆ‹– ‘”‰ƒ‹œƒ–‹‘• ƒ…–‹˜‡ ‹ …ƒ’ƒ‹‰ ƒ…–‹˜‹Ǧ
–‹‡• ƒ› „‡ ‹–‡”‡•–‡† ‹ …”‡ƒ–‹‰ ƒ ƒ’’‡ƒ”ƒ…‡ ‘ˆ –”ƒ•’ƒ”‡…›ǡ
™‹–Š‘—– ƒ…–—ƒŽŽ› ƒ…Š‹‡˜‹‰ ‹–ǡ •‘ •–ƒ–‡ Žƒ™• ƒ› ƒ…–—ƒŽŽ› „‡ ™‡ƒ „›
†‡•‹‰Ǥ ”‘—’• ƒ…”‘•• –Š‡ ’‘Ž‹–‹…ƒŽ •’‡…–”— ƒ‡ ‹†‡’‡†‡– ‡šǦ
’‡†‹–—”‡•™‹–Š‘—–ˆ—ŽŽ–”ƒ•’ƒ”‡…›ǡƒ†–Š‡›ƒ”‡‡‰ƒ‰‡†‹ƒ”ƒ…‡–‘
–Š‡ „‘––‘ ‹ ™Š‹…Š ‡‹–Š‡” ‘‡ …ƒ ƒˆˆ‘”† –‘ †”‘’ ‘—–Ǥ ‡ƒŽ ”‡ˆ‘”
”‡“—‹”‡•ƒŽ‡˜‡Ž‘ˆ’‘Ž‹–‹…ƒŽ…‘’”‘‹•‡–Šƒ–ƒ›„‡‹’‘••‹„Ž‡Ȅ”‹˜ƒŽ•
‡‡†–‘ƒ‰”‡‡ƒ†…‘‘’‡”ƒ–‡–‘’”‡˜‡–„‘–Š—‹‘ƒ†„—•‹‡••ǡŽ‹„‡”Ǧ
ƒŽƒ†…‘•‡”˜ƒ–‹˜‡‰”‘—’•ˆ”‘•‡…”‡–•’‡†‹‰Ǥ
Ǥ
38015-ckt_91-3 Sheet No. 55 Side A
˜‡ ‹ˆ –Š‡ •–ƒ–‡• Šƒ˜‡ ƒ Ž‡‰‹–‹ƒ–‡ ‹–‡”‡•– ‹ ƒ††”‡••‹‰ –Š‡
’”‘„Ž‡‘ˆ†ƒ”‘‡›ǡ‘’”‘ˆ‹–•”‡‰—Žƒ–‹‘‹‰Š–‘–„‡ƒƒ’’”‘Ǧ
’”‹ƒ–‡”‡•’‘•‡Ǥˆ–Š‡”‡‰—Žƒ–‘”›‰‘ƒŽ•†‡•…”‹„‡†ƒ„‘˜‡ǡ‘Ž›–Š‡‰‘ƒŽ•
‘ˆ ’”‘–‡…–‹‰ …Šƒ”‹–‹‡• ƒ† ’”‘–‡…–‹‰ ‘’”‘ˆ‹– †‘‘”• Œ—•–‹ˆ› ƒ ‘Ǧ
’”‘ˆ‹–ǦŽƒ™•‘Ž—–‹‘Ǥ‡™‘””‡’‡ƒŽ‡†‹–•‘’”‘ˆ‹–•”—Ž‡‹†‡ˆ‡”‡…‡
–‘‹–•‡Ž‡…–‹‘Žƒ™ǡ™Š‹…Š‹•‘”‡…‘•‹•–‡–™‹–Š–Š‡‰‘ƒŽ•‘ˆ’”‘–‡…–Ǧ
‹‰˜‘–‡”•ƒ†–Š‡’‘Ž‹–‹…ƒŽ’”‘…‡••Ǥ ͳͺʹƒŽ‹ˆ‘”‹ƒǯ•”‡‰—Žƒ–‹‘‘ˆ—Ž–‹Ǧ
’—”’‘•‡‘”‰ƒ‹œƒ–‹‘•™ƒ•‡˜‡””—–Š”‘—‰Š‹–•…Šƒ”‹–‹‡•Žƒ™Ǥ ͳͺ͵Š‡
‘˜‡”Žƒ’’‹‰Œ—”‹•†‹…–‹‘•—†‡”•–ƒ–‡Žƒ™ƒ”‡‹’‘••‹„Ž‡–‘•‘”–‘—–Ȅ
‡™ ‘”•–ƒ–‡ǯ• —„Ž‹… –‡‰”‹–› ‡ˆ‘” …– ™ƒ•ƒ†‘’–‡† ‹ ʹͲͳͳ –‘
†‡ƒŽ™‹–Š…‘…‡”•ƒ„‘—–‘’ƒ…‹–›‹Ž‡‰‹•Žƒ–‹˜‡Ž‘„„›‹‰ǡ ͳͺͶ„—––Š‡”‡‹•
‘‡˜‹†‡…‡–Šƒ––Š‡‡™‘”Ž‡‰‹•Žƒ–—”‡…‘‘”†‹ƒ–‡†–Šƒ–Žƒ™™‹–Š‹–•
‡Ž‡…–‹‘Žƒ™ǡ‡˜‡–Š‘—‰Š„‘–Šƒˆˆ‡…–ȋ…ȌȋͶȌ‘”‰ƒ‹œƒ–‹‘•Ǥ
06/09/2016 10:30:17
ͳͺʹǤ See supra‘–‡•ͻʹȂͻ͵ƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
ͳͺ͵Ǥ Seesupra‡…–‹‘ǤǤ
ͳͺͶǤ See supra‘–‡ͺ͸ƒ†ƒ……‘’ƒ›‹‰–‡š–Ǥ
38015-ckt_91-3 Sheet No. 55 Side B
06/09/2016 10:30:17
Ͳ͵
ǦȋȌ
ͻ͵͸
CHICAGO-KENT LAW REVIEW
ͷȀ͵ͳȀʹͲͳ͸ͳǣͳ͸
ȏ‘Žͻͳǣ͵
›†‹•…Ž‘•—”‡”‡‰‹‡‹•Ž‹‹–‡†ǡƒ–„‡•–Ǥ–™‘—Ž†„‡Ž‹‹–‡†‹ˆ‹Ǧ
’‘•‡†„›–Š‡‘”–Š‡ǡ„—–‹–‹•’ƒ”–‹…—Žƒ”Ž›Ž‹‹–‡†™Š‡‹’‘•‡†
„› •–ƒ–‡ ‡Ž‡…–‹‘ Žƒ™ „‡…ƒ—•‡ –Š‡ •–ƒ–‡• …ƒ ‘Ž› ”‡‰—Žƒ–‡ –Š‡‹” ‘™
‡Ž‡…–‹‘•Ǥ‘–Š‡™‘”ƒ†ƒŽ‹ˆ‘”‹ƒ‡š’Ž‹…‹–Ž›Ž‹‹––Š‡‹”•–ƒ–—–‡•–‘
‡Ž‡…–‹‘•ƒ†‹‹–‹ƒ–‹˜‡•‹–Š‡‹””‡•’‡…–‹˜‡•–ƒ–‡•Ǥˆ‡˜‡”›•–ƒ–‡ƒ†‘’–Ǧ
‡†•‘‡•‘”–‘ˆ”‡‰—Žƒ–‹‘ǡ–Š‡”‡™‘—Ž†•–‹ŽŽ„‡–Š‡‹‡•‡—‹˜‡”•‡
‘ˆˆ‡†‡”ƒŽ‡Ž‡…–‹‘•‘—–•‹†‡–Š‡”‡‰—Žƒ–‘”›•…Š‡‡Ǥ
Š‡ •…‘’‡ ’”‘„Ž‡ ƒ› —Ž–‹ƒ–‡Ž› „‡ –Š‡ •–”‘‰‡•– ”‡ƒ•‘ ˆ‘”
”‡‰—Žƒ–‹‰†ƒ”‘‡›–Š”‘—‰Š•–ƒ–‡‘’”‘ˆ‹–•Žƒ™ǡ”ƒ–Š‡”–Šƒ•–ƒ–‡
‡Ž‡…–‹‘ Žƒ™Ǥ ‘’”‘ˆ‹–• ”‡‰—Žƒ–‹‘ …ƒ „‡ ‡š’Ž‹…‹–Ž› ‰‡ƒ”‡† –‘™ƒ”†
’”‘–‡…–‹‰ …Šƒ”‹–‹‡• ƒ† †‘‘”•Ǥ ˆ •–ƒ–‡• ”‡‰—Žƒ–‡ ‘’”‘ˆ‹–• ™‹–Š‹
–Š‡‹”Œ—”‹•†‹…–‹‘ƒ•ƒ‡…Šƒ‹•ˆ‘”‹ˆ‘”‹‰†‘‘”•ƒ†’”‘–‡…–‹‰
…Šƒ”‹–ƒ„Ž‡ ‘”‰ƒ‹œƒ–‹‘• ‹ –Š‡ •–ƒ–‡ǡ –Šƒ– ”‡‰—Žƒ–‹‘ …‘—Ž† „‡ ‘”‡
‡š’ƒ•‹˜‡Ǥ Š‘•‡ ’—”’‘•‡• Œ—•–‹ˆ› ‡š–‡†‹‰ ”‡‰—Žƒ–‹‘ „‡›‘† ‡Ž‡…Ǧ
–‹‘•™‹–Š‹–Š‡•–ƒ–‡–‘ƒ›‡Ž‡…–‹‘‡‡”‹‰ƒ…–‹˜‹–›‘ˆ–Š‡‘”‰ƒ‹œƒ–‹‘Ǥ
Š‹Ž‡–Šƒ–’‘Ž‹…›‹‰Š–‘–™‹–Š•–ƒ†ƒŽ‡‰ƒŽ…ŠƒŽŽ‡‰‡ǡ‹–‹•‘”‡”‡ƒ†Ǧ
‹Ž› Œ—•–‹ˆ‹‡† –Šƒ ƒ „Žƒ‡– ‡Ž‡…–‹‘ Žƒ™Ǥ ˆ‡†‡”ƒŽ ”‡•‘Ž—–‹‘ ™‹ŽŽ —Ž–‹Ǧ
ƒ–‡Ž›„‡‡…‡••ƒ”›–‘•‘Ž˜‡–Š‡’”‘„Ž‡‘ˆ†ƒ”‘‡›‹’‘Ž‹–‹…•ǡ„—–
–Š‡•–ƒ–‡•ƒ›„‡Š‡Ž’ˆ—Ž‹’”‡’ƒ”‹‰–Š‡ˆ‡†‡”ƒŽ‰‘˜‡”‡–ˆ‘”–Šƒ–
†ƒ›Ǥ––Š‡˜‡”›Ž‡ƒ•–ǡ•–ƒ–‡”‡‰—Žƒ–‹‘‹‰Š–’ƒ˜‡–Š‡™ƒ›ǡ’‘Ž‹–‹…ƒŽŽ›ǡ
ˆ‘”–Š‡ˆ‡†‡”ƒŽ‰‘˜‡”‡––‘†‘•‘‡–Š‹‰Ǥ
38015-ckt_91-3 Sheet No. 55 Side B
06/09/2016 10:30:17