This 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 modifies existing regulations regarding individual contributions. It specifies that a member or partner who contributes through an LLC or partnership cannot make a separate individual contribution, thereby reinforcing contribution limits. The changes aim to enhance accountability in campaign financing and ensure that contributions are properly attributed to individuals involved in the LLC or partnership.