Virginia’s Money Race

The Richmond Times-Dispatch examines spending in the race for governor in Virginia with a focus on “outside groups” and 527’s.

So-called 527 committees are named for the section of the federal tax code governing fundraising for activities such as voter mobilization and issue advocacy.

The Virginia law on reporting by such organizations was strengthened in 2006 after McDonnell’s campaign for attorney general drew criticism from Democrats for accepting $2 million from a 527 group, the Republican State Leadership Committee, which did not have to disclose the source of its funds.

McDonnell was elected attorney general in 2005, defeating Deeds by 360 votes.

Virginia law now requires a 527 committee to register with the State Board of Elections as soon as it gives $10,000 or more to a Virginia candidate or political organization. It must disclose the sources of its money.

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