The bill amends the Pennsylvania Election Code to improve transparency and accountability in political contributions and expenditures. It introduces new definitions, such as "expenditure," "foreign-influenced corporation," and "independent expenditure political action committee," while also requiring political committees to disclose their sponsoring organizations in their registered names. Key changes include lowering the reporting threshold for contributions from $250 to $100, mandating detailed contributor information, and establishing stricter guidelines for the retention and public inspection of campaign expenditure vouchers. The bill also sets new contribution limits, capping individual contributions at $1,500 for state legislative offices and $5,000 for statewide offices, while imposing penalties for noncompliance.

Additionally, the legislation introduces regulations for corporate political spending, requiring corporations that spend over $10,000 on political activities to obtain shareholder approval and provide quarterly updates on their political expenditures. It defines "political activities" and outlines the responsibilities of fiduciary entities regarding communication with beneficial owners. The bill also establishes provisions for liability, allowing recovery of court costs if corporations fail to provide required information. A public database will be created to track the implementation of these changes, which are 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