House Bill No. 7093 introduces comprehensive amendments to Connecticut's campaign finance laws, particularly focusing on independent expenditure political committees (IE-only PACs) and their operations. The bill defines an "independent expenditure political committee" and expands the definition of "political committee" to include these entities, thereby subjecting them to campaign finance regulations. It allows for unlimited independent expenditures and covered transfers, while requiring detailed reporting for expenditures exceeding $1,000. The bill streamlines the reporting process, mandates electronic filing, and removes previous restrictions on report timing, enhancing transparency in campaign financing. Additionally, it establishes new disclosure requirements for individuals receiving covered transfers over $5,000 and imposes civil penalties for non-compliance, ensuring accountability in the reporting of independent expenditures.

Furthermore, HB7093 modifies contribution limits and the management of surplus funds by political committees, allowing contributions to state or municipal governments and tax-exempt organizations. It sets specific contribution caps for candidates based on the office sought, such as $3,500 for Governor and $375 for exploratory committees. The bill also prohibits business entities from contributing to candidates' campaigns while allowing them to make independent expenditures to IE-only PACs. It revises the process for handling complaints related to election violations, shifting the standard from "probable cause" to "reason to believe," and establishes a timeline for the State Elections Enforcement Commission to act on complaints. Overall, the bill aims to enhance transparency, accountability, and integrity in campaign financing while aligning various provisions with existing state laws.

Statutes affected:
Raised Bill: 9-601, 9-601c, 9-611, 9-613, 9-614, 9-615, 9-620
GOS Joint Favorable: 9-601, 9-601c, 9-611, 9-613, 9-614, 9-615, 9-620
File No. 516: 9-601, 9-601c, 9-611, 9-613, 9-614, 9-615, 9-620