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. Additionally, it introduces stricter regulations on the use of campaign funds, specifically prohibiting the repayment of loans made by candidates that incur interest. The bill also revises the reporting schedule for independent expenditures, necessitating reports for expenditures exceeding $1,000 within three days and those over $3,000 within 24 hours if made close to an election.

Moreover, the bill updates the reporting requirements for individuals involved in political campaigns by changing filing deadlines and introducing new provisions for reporting contributions and expenditures over $1,000 made or received shortly before an election. It clarifies that individuals subject to fundraising prohibitions during legislative sessions must report any monetary contributions received during that time. The bill specifies lawful uses of campaign funds, including expenditures related to campaign activities and donations to political committees or other candidates, while reinforcing stricter definitions and guidelines for fundraising during legislative sessions. Overall, these amendments aim to create a more transparent electoral process by tightening regulations on campaign financing and enhancing disclosure requirements.

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