Substitute Bill No. 1517 introduces comprehensive amendments to campaign finance laws, particularly focusing on independent expenditure political committees. It defines these committees as those that exclusively make independent expenditures to support or oppose candidates, referendum questions, or political parties, and allows for coordination among them. The bill expands the definition of "political committee" to include independent expenditure political committees, thereby formalizing their role in the campaign finance framework. Key insertions include the requirement for individuals filing reports on independent expenditures to affirm their independent nature under penalty of false statement, and the expansion of reporting requirements to include expenditures related to referendum questions. The bill also mandates the disclosure of covered transfers exceeding $5,000 and establishes penalties for late report filings, which can reach up to $20,000 or double the independent expenditure amount.

Additionally, the bill modifies contribution limits for various political offices and clarifies the rules for political committees, including those established by organizations. It removes aggregate contribution limits for individuals and allows business entities to make contributions to political committees they establish, while prohibiting direct contributions to candidates or political parties. The bill also streamlines the complaint process regarding election law violations and adjusts the requirements for qualifying contributions to ensure candidates meet specific financial criteria for public funding. Overall, the bill aims to enhance transparency, accountability, and compliance within the campaign finance landscape while modernizing election procedures.

Statutes affected:
Raised Bill: 9-601, 9-601c, 9-611, 9-613, 9-614, 9-615, 9-620
GAE Joint Favorable: 9-601, 9-601c, 9-611, 9-613, 9-614, 9-615, 9-620
File No. 674: 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