Raised Bill No. 1517 introduces comprehensive amendments to campaign finance laws, particularly focusing on independent expenditure political committees. It defines these committees as entities that exclusively make independent expenditures to support or oppose candidates, referendum questions, or political parties, and allows them to coordinate with one another. The bill expands the definition of "political committee" to include independent expenditure political committees, thereby increasing the number of entities subject to campaign finance regulations. It also modifies reporting requirements, allowing unlimited independent expenditures and covered transfers, while mandating detailed reporting for expenditures exceeding $1,000. The reporting process has been streamlined to require electronic submissions with specific deadlines, enhancing transparency in campaign financing.

Additionally, the bill establishes new disclosure requirements for individuals receiving covered transfers over $5,000 and allows for dedicated independent expenditure accounts. It imposes civil penalties for failing to file required reports, particularly for late submissions, and enhances the enforcement capabilities of the State Elections Enforcement Commission. The bill also revises contribution limits for candidates and political committees, allowing business entities to make reasonable transfers to their established political committees while prohibiting certain contributions. Overall, Raised Bill No. 1517 aims to refine the regulatory framework governing political contributions and expenditures, ensuring compliance with updated standards and enhancing transparency in campaign financing activities.

Statutes affected:
Raised Bill: 9-601, 9-601c, 9-611, 9-613, 9-614, 9-615, 9-620