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. In such cases, the candidate, political committee, or other responsible parties are 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 mandates that candidates and political committees report payments made as unclaimed property, enhancing transparency in campaign finance. The amendments include technical and clarifying changes to the existing law, ensuring that the provisions align with the overall intent of managing campaign contributions effectively. The bill retains the current framework while introducing specific provisions for the treatment of excess contributions that go unclaimed, thereby reinforcing accountability in campaign finance practices.

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)