ND HB1500

Creates new disclosure requirements for "covered persons" (those spending over $200 per election cycle) to maintain and report tracing records identifying the ultimate and true sources of funds used for expenditures.

Requires covered persons to file statements with the secretary of state within ten days of first disbursing over $200 in traceable funds, disclosing fund sources and intermediaries involved in fund transfers.

Mandates political advertisements disclose the names of the three persons who are the ultimate and true sources of the largest aggregate contributions or transfers of traceable funds during the election cycle.

Establishes enforcement authority for the secretary of state to investigate violations and imposes fines of two to three times the monetary value of violations; makes structuring transactions to evade reporting requirements a class A misdemeanor.

Allows resident taxpayers to file civil actions in district court to enforce the chapter's provisions and repeals the previous ultimate and true source of funds provision.