The bill amends the Pennsylvania Election Code to improve transparency and accountability in political contributions and expenditures. It introduces new definitions and regulations, including a clarified definition of "expenditure" to ensure funds are used solely for campaign-related purposes. The bill establishes stricter reporting requirements for political committees and candidates, mandating the disclosure of contributors' names and occupations when contributions exceed certain thresholds. Additionally, it restricts foreign entities from contributing to campaigns and requires political committees to include their sponsoring organization's name in their registered title.

Moreover, the bill sets new contribution limits, capping individual contributions to candidates at $1,500 per election and political action committee contributions at $10,000. It also outlines guidelines for the inspection of financial documents, increases late filing fees, and allows for the donation of residual funds from terminated political committees to nonprofit organizations. The legislation mandates that corporations obtain shareholder approval for political expenditures exceeding $10,000 and requires quarterly notifications to shareholders about political activities. The Department of the Auditor General will conduct annual audits to ensure compliance, and the act is set to take effect on January 1, 2026, or immediately thereafter.

Statutes/Laws affected:
Printer's No. 538 (Feb 10, 2025): P.L.1333, No.320, P.L.1778, No.712
Printer's No. 0538: P.L.1333, No.320, P.L.1778, No.712