The proposed General Assembly Committee Bill No. 603 seeks to amend the management and distribution of surplus funds from candidate committees involved in the Citizens' Election Program. It repeals subsection (e) of section 9-608 and introduces new provisions that require surplus funds to be distributed or expended within specific timeframes after elections or referenda. Candidate committees are now permitted to distribute surplus funds to various entities, including party committees, the Citizens' Election Fund, charitable organizations, and contributors on a prorated basis. A significant new provision allows candidate committees for participating candidates to allocate up to $5,000 of surplus to a local charitable organization, with any remaining surplus directed to the Citizens' Election Fund.

Furthermore, the bill clarifies that nonparticipating candidate committees can only distribute surplus to the Citizens' Election Fund or charitable organizations. It also accommodates political committees formed solely for referenda, permitting them to distribute surplus to contributors or tax-exempt organizations based on their funding sources. To ensure transparency and accountability, the bill mandates that treasurers file a supplemental statement within seven days of any surplus distribution or expenditure. The bill aims to streamline the reporting process by deleting outdated language and sets an effective date for these changes as October 1, 2025. Overall, it enhances financial reporting transparency while promoting charitable contributions from political committees.