Iowa is one of the first states in the nation to respond to the U.S. Supreme Court decision in Citizens United v. FEC, reports IowaPolitics.com.

Gov. Chet Culver has signed a bill requiring corporations to get an affirmative board vote before running ads 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 considered serious misdemeanors.

“I believe, as well as the governor, in Iowa’s situation as a clear leader around the country, a unique position in picking our president first, that we should also lead when it comes to setting up a framework for clean politics and we believe this law achieves that,” said Sen. Jeff Danielson, D-Cedar Falls, who managed the bill on the floor of the Iowa Senate.

In the Citizens United ruling, the high court found that corporate spending in elections cannot be limited under the First Amendment.

Danielson said the new Iowa law holds corporations to the same political-expenditure rules as citizens.

“We don’t ask (corporations) to do anything different than what we as candidates do or what current political action committees do or some of our other independent expenditure laws that have been on the books,” Danielson told IowaPolitics.com. “We simply took Iowa’s best practices and applied it to this new situation.”

But a letter from Culver campaign manager Abby Curran to supporters said the Supreme Court ruling would open the door "to massive amounts of corporate money" in support of Republican candidates, with no accountability.

"The decision would allow corporations to run political attack ads without ever having to admit they were behind them," she said.

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To read the press release, click here.