The proposed bill amends the Campaign Reporting Act to improve transparency and accountability in campaign finance. It requires campaign and political committees to disclose the organizations that authorized or paid for telephone calls or electronic communications advocating for or against candidates or ballot measures. The bill standardizes reporting requirements for contributions and expenditures, mandating that any contribution or pledge of $1,000 or more be reported, and prohibits the use of campaign funds to repay loans made by candidates that incur interest. Additionally, it introduces new definitions, such as "artificial intelligence" and "materially deceptive media," to address modern campaign tactics and revises the reporting schedule for independent expenditures to ensure detailed disclosures about the sources of contributions used for such expenditures.

The bill also updates the reporting requirements for campaign contributions and expenditures by adjusting filing deadlines and introducing new provisions for reporting contributions and expenditures made during election years. Candidates will be required to report any contributions or expenditures over $1,000 within 24 hours if received after a specified deadline. Furthermore, it establishes stricter regulations on the use of campaign funds, prohibiting candidates from using contributions for personal loans with interest and detailing allowable expenditures. The bill outlines a legislative session fundraising prohibition, specifying periods during which incumbents and candidates cannot solicit or accept contributions, ultimately aiming to enhance the transparency and accountability of campaign financing.

Statutes affected:
introduced version: 1-19-26, 1-19-26.3, 1-19-27.3, 1-19-29, 1-19-29.1, 1-19-31, 1-19-34.1