Senate Bill No. 1407 introduces several amendments to the auditing process conducted by the State Elections Enforcement Commission (SEEC). The bill mandates that the SEEC must complete audits of candidate committees within twelve months of receiving all necessary information, and it requires the commission to report to the Government Oversight Committee by January 1, 2026, and annually thereafter on any audits that were not completed within the specified timeframe, along with the reasons for such delays. Additionally, the bill stipulates that the SEEC must conduct a weighted lottery to select candidate committees for auditing, ensuring that this process is publicly noticed and open.

Furthermore, the bill includes specific provisions regarding the timing of audits, stating that the SEEC cannot initiate audits during the two months leading up to an election unless there is a complaint involving a candidate's committee from a previous election. It also clarifies that the commission must notify candidate committees selected for an audit by May 31 of the year following the election. The bill repeals certain existing language and replaces it with new requirements, including the public notice of the lottery process and the completion of audits within a defined period. The effective date for these changes is set for July 1, 2025.