This bill addresses campaign finance by providing funding for transition expenses for newly elected officials, specifically the secretary of state-elect, state auditor-elect, and attorney general-elect. It allows for the transfer of up to $50,000 for the secretary of state and state auditor, and up to $75,000 for the attorney general from the general contingent account to the Department of Management and Budget to cover expenses related to preparing for their official duties. The bill also establishes definitions for transition expenses and inaugural event expenses, which include costs associated with setting up a transition office, office space, equipment, and other necessary support. Additionally, it prohibits candidates from making expenditures for these expenses outside of their principal campaign committee.

Furthermore, the bill amends the definition of "noncampaign disbursement" to include transition and inaugural event expenses, ensuring that these costs are recognized within the existing campaign finance framework. It also mandates that contributions for these expenses must be solicited or accepted only through the candidate's principal campaign committee. The Campaign Finance and Public Disclosure Board is authorized to amend relevant rules to align with the new provisions regarding transition expenses, utilizing a good cause exemption for expedited rulemaking.

Statutes affected:
Introduction: 10A.01
1st Engrossment: 10A.01