IowaPolitics.com reports "Iowa on Thursday became one of the first states in the nation to respond to the U.S. Supreme Court decision in Citizens United v. FEC, which found that corporate spending in elections cannot be limited under the First Amendment....The law requires corporations to obtain an affirmative board vote before ads can run for or against a candidate or issue. The ad must also contain information on who paid for it, the name and address of the corporation, and the name of the chief executive officer. Expenditures over $750 must be filed with the Iowa Ethics and Campaign Disclosure Board within 48 hours of the time the cost is incurred, and violations are serious misdemeanors."
Governor Culver's press release is
here. The bill, Senate File 2354, is available
here.
While the press account above focuses on the new law's impact on corporations, the law applies to "entities" making independent expenditures, which includes labor unions.
From USA Today: "State lawmakers around the country are rushing to rewrite campaign-finance laws following the U.S. Supreme Court's recent ruling that opened the door to unlimited corporate and union money in elections and upended laws in nearly half the states." With brief updates from Iowa, Maryland, Arizona, Minnesota and Colorado.