Substitute Bill No. 1225 proposes significant changes to election and campaign finance laws. It introduces a new category of political committee called "independent expenditure political committee," which can make unlimited independent expenditures and covered transfers to promote or defeat candidates, referendum questions, or political parties, and contribute to other similar committees. The bill clarifies reporting requirements for independent expenditures, including electronic filing within 24 hours for expenditures over $1,000 and detailed long-form and short-form reports. It also outlines penalties for failing to file reports, with fines up to $50,000 or ten times the expenditure amount for knowing and willful failures. The bill revises registration statement requirements for committees, including the addition of control by a person or an individual acting as an agent of a person, and mandates that committees disclose their funding sources.

The bill also addresses the distribution of surplus funds by political committees, revises contribution limits for individuals to various political offices, and eliminates the aggregate contribution limit of thirty thousand dollars for any single election and its preliminary primary. It sets a thirty-dollar contribution limit for individuals under eighteen years of age and specifies that contributions over one hundred dollars must be made by personal check or credit card. The bill prohibits business entities from making contributions or expenditures to candidates' campaigns or political parties, except for promoting or defeating a referendum question, and limits the establishment of political committees by business entities to one. It also allows business entities to make independent expenditures and contributions to independent expenditure political committees. The bill amends sections of the general statutes to reflect these changes and sets contribution limits for political committees organized by business entities.

Statutes affected:
Raised Bill: 9-622
GAE Joint Favorable Substitute: 9-601, 9-601c, 9-611, 9-613, 9-614, 9-615, 9-620
File No. 630: 9-601, 9-601c, 9-611, 9-613, 9-614, 9-615, 9-620
JUD Joint Favorable: 9-601, 9-601c, 9-611, 9-613, 9-614, 9-615, 9-620