The bill aims to modify the disbursement of campaign funds at the conclusion of a campaign and amends existing laws related to campaign finance, specifically portions of Initiated Act 1 of 1990 and Initiated Act 1 of 1996. It updates Arkansas Code 7-6-203(g)(1) to expand the options available for candidates regarding the disposition of their campaign funds.

Under the new provisions, candidates can now turn over campaign funds to a broader range of entities, including the Treasurer of State for the General Revenue Fund, political parties, and various types of tax-exempt organizations. Notably, the bill replaces the term "nonprofit organization" with "entity" and specifies that this includes organizations exempt under Sections 501(c)(3), 501(c)(4), and 501(c)(6) of the Internal Revenue Code. Additionally, candidates can now also contribute to ballot question committees, independent expenditure committees, and political action committees, thereby enhancing the flexibility in the use of campaign funds.

Statutes affected:
HB 1597: 7-6-203(g)