Substitute Senate Bill No. 1533 seeks to amend the Citizens' Election Program in Connecticut by updating definitions, adjusting contribution limits based on inflation, and modifying eligibility criteria for candidates seeking grants. The bill repeals and replaces subdivision (25) of section 9-601, redefining "organization expenditure" to encompass various forms of candidate support, including campaign materials and events. It also establishes that contributions cannot be solicited at certain campaign events. Additionally, the bill modifies subsections (b) and (c) of section 9-704 to ensure that aggregate contribution amounts for state offices are adjusted by the State Elections Enforcement Commission according to changes in the consumer price index, with specific deadlines for adjustments set for elections in 2026 and beyond.

Moreover, the bill alters the eligibility criteria for candidates applying for grants from the Citizens' Election Program, allowing gubernatorial candidates to apply for convention campaign grants starting in January of the year preceding the election. It specifies that candidates who change their party status after filing a grant application will lose eligibility for additional grant funds. The bill also clarifies the review process for grant applications and the timing of grant payments, while ensuring that candidates with certain criminal convictions are barred from applying unless a specified period has elapsed. The effective date for most provisions is upon passage, with specific changes regarding adjustments and grant applications taking effect on July 1, 2025, and January 1, 2028, respectively.