General Assembly Raised Bill No. 465 proposes significant amendments to the existing campaign finance laws in Connecticut, particularly focusing on the operations and contributions of exploratory committees for political candidates. Key provisions include a requirement for the chairman of a political committee supporting a single candidate to notify the candidate of the committee's formation within seven days, with the candidate having fourteen days to disavow the committee before it is considered authorized. The bill allows candidates to establish exploratory committees designated for specific offices, which cannot accept contributions exceeding $5,000 and must dissolve within thirty days unless the candidate publicly declares their intention to seek nomination or election. Additionally, the treasurer of the exploratory committee must file a notice of intent to dissolve within fifteen days of such a declaration, and surplus funds must be managed according to specific guidelines.

The bill also introduces new contribution limits effective January 1, 2027, capping individual contributions at $3,500 for Governor, $2,000 for other statewide offices, and $250 for state representatives and municipal offices. It reduces the contribution limit for exploratory committees from $375 to $250 and sets similar limits for contributions from political committees and business entities. Furthermore, it repeals and replaces several existing statutes to reflect these changes, ensuring that contributions to exploratory committees are capped at $250. Overall, Raised Bill No. 465 aims to streamline campaign financing regulations, enhance transparency, and clarify the rules surrounding exploratory committees and their contributions.

Statutes affected:
Raised Bill: 9-608