This bill proposes several updates to current statutes regarding political finance, specifically concerning candidate committees for city or town candidates. Under the current law, a candidate committee for a city or town candidate shall not transfer contributions to that same candidate's committee for a statewide or legislative office. The bill would change this to allow such transfers, stating that a candidate committee may transfer contributions to that same candidate's committee for a statewide or legislative office. Additionally, it introduces a new provision that limits the aggregate amount of contributions transferred from a city, town, or county candidate's committee to a statewide or legislative committee, ensuring it does not exceed the contribution limits for that office. Furthermore, the bill mandates that every incorporated city, town, or county must adopt standards of financial disclosure for local public officers, which must be accessible on their respective websites. This requirement is a new insertion that aims to enhance transparency in political finances. The updates will take effect on January 1, 2027, and will only apply to contributions received after that date, as specified in the new provisions.

Statutes affected:
Introduced Version: 28-4143
Senate Engrossed Version: 28-4143
House Engrossed Version: 16-913, 38-545, 16-941