The bill, HB 411, addresses the procedure for returning excess campaign contributions and establishes new guidelines for handling unclaimed property related to these contributions. It amends existing law to specify that checks drawn on a campaign account for returning excess contributions must be negotiated within six months; otherwise, the amount will be presumed abandoned. If the check is not cashed within this timeframe, the candidate or political committee is required to transfer the unclaimed funds in accordance with the Uniform Unclaimed Property Act of 1997. This change aims to clarify the process and ensure that excess contributions are properly managed.

Additionally, the bill includes technical amendments to enhance clarity and compliance with existing reporting requirements for campaign finance. It mandates that candidates and political committees report payments made as unclaimed property, thereby ensuring transparency in the handling of excess contributions. The bill retains the current law's provisions regarding the presumption of abandonment for unclaimed property while specifically addressing the treatment of excess campaign contributions. Overall, HB 411 seeks to streamline the process for managing excess contributions and ensure adherence to unclaimed property laws.

Statutes affected:
HB411 Original: 18:7(B)(21), 18:5(B)(20)
HB411 Engrossed: 18:7(B)(21), 18:5(B)(20)
HB411 Enrolled: 9:154(A)(18), 18:7(B)(21), 18:5(B)(20)
HB411 Act 615: 9:154(A)(18), 18:7(B)(21), 18:5(B)(20)
Conference Committee Report, #5021, House Proposed, Senate Proposed: 9:154(A)(18)
Conference Committee Report, #5021, House Adopted, Senate Adopted: 9:154(A)(18)