The proposed bill amends the Campaign Reporting Act to improve transparency and accountability in campaign finance. It mandates that campaign and political committees disclose the organizations behind any telephone calls or electronic communications that advocate for or against candidates or ballot measures. The bill standardizes reporting requirements for contributions and expenditures, requiring any contribution or pledge of $1,000 or more to be reported. It also introduces stricter rules for reporting monetary contributions received during the legislative session fundraising prohibition period and prohibits the use of campaign funds to repay loans made by candidates that incur interest. Additionally, the bill revises the reporting schedule for independent expenditures, requiring timely reporting based on the amount spent, and clarifies definitions related to campaign finance.

Moreover, the bill updates several sections of the New Mexico Campaign Reporting Act by introducing new categories of permissible contributions, such as gifts from family members and personal loans from family members. It revises filing deadlines to require reports to be submitted on specific dates, particularly during election years, and clarifies electronic filing requirements. The bill also strengthens the prohibition on fundraising during legislative sessions by expanding the definition of prohibited actions to include accepting contributions from lobbyists and their employers. New definitions for terms like "incumbent or candidate" and "proscribed office" are introduced to clarify the scope of the regulations. Overall, these amendments aim to create a more transparent campaign finance environment and ensure adherence to stricter reporting standards.

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