The bill revises campaign finance laws by establishing specific limitations on contributions from limited liability companies (LLCs) and partnerships. It stipulates that only LLCs and partnerships classified and taxed as sole proprietorships or partnerships for federal tax purposes may contribute to candidates. Contributions must be reported under the name of the member or partner making the contribution, ensuring transparency in campaign financing. The bill also clarifies that contributions from these entities cannot come from those taxed as C or S corporations.

Additionally, the bill removes the prohibition on individual contributions separate from those made by members or partners of the LLC or partnership, instead clarifying individual contribution limits. This change aims to streamline the reporting process and ensure that contributions are accurately attributed to the individuals involved. Overall, the bill seeks to enhance the integrity of campaign finance by tightening regulations around contributions from business entities.