The bill amends the existing laws regarding the filing of campaign finance reports and candidate contribution filings, specifically addressing provisions from Initiated Act 1 of 1990 and Initiated Act 1 of 1996. It establishes a new deadline for candidates to submit a final report of contributions and expenditures, changing the previous requirement of "thirty (30) days" to "the last day of the month after the end of the month" in which the candidate's name appeared on the ballot. Additionally, it clarifies that a final report is mandatory regardless of whether contributions or expenditures exceed five hundred dollars ($500).

Furthermore, the bill modifies the requirements for candidates who retain campaign funds after an election. If a candidate does not engage in any campaign activity before the end of the year, they are not required to file a fourth quarter report. However, if they raise funds for a future campaign or use the funds for officeholder expenses, they must continue to file the necessary reports. These changes aim to streamline the reporting process and ensure transparency in campaign finance activities.

Statutes affected:
SB 114: 7-6-207(a)
Act 85: 7-6-207(a)