The bill proposes the repeal of sections 130.011 and 130.047 of the Revised Statutes of Missouri and introduces three new sections, designated as sections 130.011, 130.047, and 355.077. These new sections aim to modernize the definitions and regulations surrounding campaign contributions, clarifying the roles of candidates, committees, and the types of permissible contributions and expenditures. Key terms such as "candidate," "committee," "contribution," and "expenditure" are defined to enhance understanding of campaign finance activities and the responsibilities of involved parties. The bill also modifies reporting requirements for expenditures to align with the updated provisions. Additionally, HB 2984 focuses on in-kind contributions from corporations, defining them as contributions or expenditures made by corporations regulated under chapter 355 and foreign nonprofit corporations for political purposes. It mandates that any individual or corporation making expenditures of $500 or more in support of or opposition to candidates or ballot measures must file a detailed report with the appropriate election officer. The new section 355.077 establishes contribution and expenditure limitations for corporations in accordance with the Missouri Constitution and emphasizes the need for these entities to report in-kind expenditures as per the existing requirements in section 130.047. Overall, the legislation aims to improve transparency and accountability in campaign financing, particularly regarding corporate contributions.

Statutes affected:
Introduced (4576H.01): 130.011, 130.047, 355.077