Substitute Senate Bill No. 465 proposes significant amendments to Connecticut's campaign finance laws, particularly focusing on the regulations surrounding exploratory committees for political candidates. The bill mandates that the chairman of a political committee supporting a single candidate must notify the candidate of the committee's formation within seven days of filing a statement of organization. If the candidate does not disavow the committee within fourteen days, it will be deemed authorized. Additionally, candidates are required to establish a single candidate committee within fifteen days of publicly declaring their intention to seek nomination or election. The bill also introduces a maximum contribution limit of $250 for exploratory committees, down from $375, and sets a cap of $5,000 on total contributions these committees can accept.

Moreover, the bill revises the contribution limits for various state offices, capping contributions to a candidate for Governor at $3,500 and limiting contributions to state representatives to $250. It also clarifies definitions related to contributions and the roles of political entities, while repealing and replacing several subsections of the general statutes to reflect these changes. The bill aims to streamline the regulations governing exploratory committees, ensuring that only one committee may be formed per election cycle and that they must dissolve within 30 days of a candidate's public declaration of intent. These changes are set to take effect on January 1, 2027, and are not expected to have any fiscal impact on the state or municipalities.

Statutes affected:
Raised Bill: 9-608
GAE Joint Favorable: 9-608
File No. 502: 9-608