General Assembly Substitute Bill No. 1517 proposes significant 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, formalizing their status within the campaign finance framework. It also modifies reporting requirements, allowing unlimited independent expenditures and covered transfers, while mandating timely reporting for expenditures exceeding $1,000. The legislation aims to enhance transparency in campaign financing and streamline the reporting process.

Additionally, the bill introduces new contribution limits for various political offices and clarifies the rules surrounding contributions from business entities, prohibiting them from contributing to candidates or political parties, except for specific administrative expenses. It establishes penalties for failing to file required reports, with escalating fines based on the timing of the expenditure relative to the election date. The bill also modifies the complaint handling process within the State Elections Enforcement Commission, replacing "probable cause" with "reason to believe" and establishing timelines for decision-making. Overall, the bill seeks to improve accountability and transparency in campaign finance while ensuring compliance with updated legal standards.

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