This bill mandates that political committees exempt from taxation under sections 501(c)(4), 501(c)(5), or 501(c)(6) of the United States Internal Revenue Code must disclose the identities of their donors. The current law, which allowed these committees to choose whether or not to disclose donor identities, is amended to require such disclosure. Specifically, the language stating that these committees "may disclose, but shall not be required to disclose" is replaced with "shall" be required to disclose, effectively eliminating the option for non-disclosure.

Additionally, the bill removes the requirement for these committees to include a disclaimer on their communications to voters if they choose not to disclose their donors. The new legal language reflects a shift towards greater transparency in political funding by ensuring that donors' identities are made public, thereby enhancing accountability within political committees. The act is set to take effect 60 days after its passage.

Statutes affected:
Introduced: 664:6
HB1201 text: 664:6