The proposed bill seeks to amend the D.C. Law 22-250, Campaign Finance Reform Amendment Act of 2018, to improve transparency and accountability regarding political contributions made by business entities. It mandates that any business entity or its principals disclose political contributions made to the Mayor, candidates for Mayor, political committees affiliated with the Mayor, and constituent-service programs associated with the Mayor since November 9, 2022. Additionally, similar disclosures are required for contributions made to the Attorney General and Councilmembers, detailing the date, amount, and recipient of each contribution. The bill also stipulates that business entities must confirm whether they held any District contracts at the time of the contributions or within one year prior.

Moreover, the bill clarifies the definition of "Principal" to include senior officers and owners who influence the overall strategy of the business entity, while excluding board members and deans of educational institutions from this classification. It also addresses compliance with D.C. Official Code 1-1163.34a, requiring entities to certify that they are not currently in violation of this code. These amendments aim to enhance the integrity of the campaign finance system by ensuring that political contributions are disclosed and that potential conflicts of interest are minimized.