This bill amends the Pennsylvania Election Code, specifically focusing on the reporting requirements for candidates, political committees, and other entities involved in election financing. It introduces new provisions that require any person, including organizations classified under 26 U.S.C. 501(c), to report independent expenditures or contributions made to organizations that advocate for or against a candidate or ballot question, regardless of the amount. Previously, only contributions exceeding $100 needed to be reported, but the new language mandates reporting for any amount. Additionally, the bill stipulates that reports must include details about the candidate or question supported or opposed.

Furthermore, the bill modifies the reporting requirements for late contributions and independent expenditures. It eliminates the previous threshold of $500 for reporting and now requires any candidate or political committee, as well as individuals or organizations making independent expenditures, to report contributions or pledges of any amount received after the final pre-election report. These reports must be submitted to the appropriate supervisor within 24 hours of receipt, ensuring timely transparency in campaign financing. The act is set to take effect 60 days after its passage.