(1) A corporation that makes an in-kind contribution to a reporting entity shall, in accordance with Subsection (2), provide the reporting entity a written notice that includes:
(a) the name and address of the corporation;
(b) the date of the in-kind expenditure;
(c) a description of the in-kind expenditure; and
(d) the value, in dollars, of the in-kind expenditure.
(2) A corporation shall provide the written notice described in Subsection (1) to the reporting entity:
(a) except as provided in Subsection (2)(b), within 31 calendar days after the day on which the corporation makes the in-kind contribution; or
(b) within seven business days after the day on which the corporation makes the in-kind contribution, if:
(i) the in-kind contribution is to a candidate who is contested in a convention and the corporation makes the in-kind contribution within 30 calendar days before the day on which the convention is held;
(ii) the in-kind contribution is to a candidate who is contested in a primary election and the corporation makes the in-kind contribution within 30 calendar days before the day on which the primary election is held; or
(iii) the in-kind contribution is to a candidate who is contested in a general election and the corporation makes the in-kind contribution within 30 calendar days before the day on which the general election is held.
(3) A corporation that provides, and a reporting entity that receives, the written notice described in Subsection (1) shall retain a copy of the notice for five years after the day on which the written notice is provided to the reporting entity.
(4) A corporation or reporting entity that fails to comply with the requirements of this section is guilty of a class B misdemeanor.
(5) A person that intentionally or knowingly provides, or conspires to provide, false information on a written notice described in this section is guilty of a class B misdemeanor.