The 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 modifies the reporting requirements for late contributions and independent expenditures, removing the previous threshold of $500 and requiring reports for any amount received after the final pre-election report.

The amendments aim to enhance transparency in campaign financing by ensuring that all independent expenditures and contributions are reported in a timely manner. This includes a requirement for reports to be filed within 24 hours of receiving contributions or making expenditures, thereby increasing accountability among candidates and organizations involved in election activities. The bill is set to take effect 60 days after its passage.