(a) As used in this section, "property" means both real and personal property and includes without limitation both tangible and intangible property.
(b)
(1) No person who is a sponsor of an initiative petition, referendum petition, or constitutional amendment which proposes the sale of property owned by a municipality or county shall receive anything of value as a result of the passage of the act sponsored by the person.
(2) A sponsor of an initiative petition, referendum petition, or constitutional amendment which proposes the sale of property owned by a municipality or county shall file, within sixty (60) calendar days of the election at which the initiative, referendum, or constitutional amendment has been voted upon, with the Secretary of State an accounting of all expenditures by the sponsor in connection with the petition or amendment.
(3) No person shall directly or indirectly benefit from sponsorship of a petition or amendment which proposes the sale of property owned by a municipality or county by contracting sponsorship activities to any business enterprise in which the sponsor has a substantial interest.
(4) Nothing in this act shall prohibit the circulation of petitions or compensation to persons who circulate the petitions.
(c) (1) (A) If a sponsor violates any provision of subsection (b) of this section, the sponsor shall be fined an amount equal to twice the amount of the person's personal gain.
(B) The fine shall be paid to the state, municipality, or county in which the petition or amendment was voted upon.
(2) This section shall be enforced by the:
(A) City attorney of the municipality;
(B) Prosecuting attorney of the county; or
(C) Attorney General of this state.
(d) The expense reports filed by the sponsor of the petition shall be subject to the Freedom of Information Act of 1967, § 25-19-101 et seq.
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