The bill, HB 906, proposes significant revisions to the Campaign Finance Disclosure Act, including updates to contribution limits and penalties for non-compliance. Notably, the contribution limits for major office candidates will increase from $5,000 to $12,000, for district office candidates from $2,500 to $6,000, and for other offices from $1,000 to $2,000. Additionally, the penalty for failing to file financial disclosure statements will rise from $100 to $250 per day. The bill also allows for electronic filing of political committee documents and introduces a new definition for "independent expenditure-only political committee," which can receive unlimited contributions.

Furthermore, the bill enhances the authority of the Supervisory Committee on Campaign Finance by allowing it to initiate investigations based on referrals from other agencies and establishes a new procedure for filing complaints. It also increases the contribution limit for gubernatorial transition and inauguration contributions from $5,000 to $25,000. The proposed law mandates a report on modernizing Louisiana's campaign finance system by January 31, 2025, and includes various technical changes to improve the overall efficiency and transparency of campaign finance practices in the state.

Statutes affected:
HB906 Original: 18:1(E), 18:4(E), 18:2(E), 18:4(A), 42:1125(A)
HB906 Engrossed: 18:1(E), 18:4(E), 18:2(E), 18:4(A), 42:1125(A)
HB906 Reengrossed: 18:1(E), 18:4(E), 18:2(E), 18:4(A), 42:1125(A)
HB906 Enrolled: 18:1483(11), 18:1(E), 18:4(E), 18:2(E), 18:4(A), 42:1(A)(2), 42:1125(A)
HB906 Act 664: 18:1483(11), 18:1(E), 18:4(E), 18:2(E), 18:4(A), 42:1(A)(2), 42:1125(A)