This bill proposes several updates to the current statutes regarding campaign finance reporting and penalties. Under the new provisions, the committee treasurer will have the option to certify in the termination statement that either the committee received no contributions or that it received contributions while meeting specific conditions. Additionally, penalties for late filing of campaign finance reports will not be assessed if the committee certifies it received no contributions and made no expenditures during the reporting period, provided it files a termination statement. Furthermore, starting July 1, 2026, the maximum penalty for late reports will be capped at $5,000.

The bill also mandates that filing officers publish a list of active committees that owe penalties for late filings within five days after the closing date for filing a report. It clarifies that any penalties accrued against a committee that subsequently files a termination statement indicating no contributions are retroactively void. Moreover, it establishes that enforcement actions against such committees will be dismissed due to lack of jurisdiction. The act is retroactive to July 6, 2016, and is classified as an emergency measure, allowing for immediate implementation upon the Governor's signature.

Statutes affected:
Introduced Version: 16-934, 16-937
House Engrossed Version: 16-934, 16-937
Senate Engrossed Version: 16-934, 16-937
Conference Engrossed Version: 16-928, 16-934, 16-937
Chaptered Version: 16-928, 16-934, 16-937