SB 534-FN, as amended by the House, is a comprehensive bill that revises the laws pertaining to political campaign financing. It expands the definitions of key terms such as "candidate," "political committee," "political advertising," "communication," "contribution," "expenditure," and "push-polling" to encompass a broader range of activities and entities involved in political campaigns. Notably, the bill allows for childcare expenses to be covered by campaign contributions and sets forth detailed requirements for independent expenditures. It also redefines "receipts" and "political advocacy organization," clarifies the registration process for political committees, and mandates itemized statements of receipts and expenditures. The bill exempts certain tax-exempt political committees from disclosing donor identities but requires a disclosure on communications if they opt not to disclose. Additionally, it outlines prohibited contributions, including those from partnerships, labor unions, and anonymous donors, and sets contribution limits.

The bill also includes provisions to prevent the coercion of political contributions from state employees and business organization members. It amends existing laws to manage surplus campaign contributions and deficits, requiring them to be reported in the next election cycle. The bill changes the numbering of sections and sets reporting thresholds and deadlines for political committees. It establishes automatic renewal of registration for committees with outstanding debts and allows national political party committees to contribute to state candidates within limits. The bill mandates the use of an online campaign finance system for filing reports, with full implementation by specific dates and a waiver process for certain candidates. It also updates public inspection requirements, designates treasurers for political campaigns, and revises the rules for political advertising, including signature and identification requirements. Lastly, the bill empowers the attorney general to enforce campaign finance laws and sets forth penalties for non-compliance, with various sections taking effect immediately or on November 27, 2024. The fiscal impact of the bill is yet to be determined.

Statutes affected:
Introduced: 664:1, 664:4-a, 664:4-b, 664:5, 664:7, 664:7-a, 664:7-b, 664:11-13, 664:14-a, 664:15, 664:20, 664:21
As Amended by the Senate: 664:1, 664:4-a, 664:4-b, 664:5, 664:7, 664:7-a, 664:7-b, 664:11-13, 664:14-a, 664:15, 664:20, 664:21
As Amended by the House: 664:2, 664:4-a, 664:4-b, 664:5, 664:7, 664:7-b, 664:9, 664:11-13, 664:15, 664:18, 664:20, 664:21