The bill amends various sections of the Rhode Island General Laws concerning campaign contributions and expenditures, with a focus on enhancing transparency and accountability. Key definitions are clarified, including "candidate," "candidate committee," "political action committee," and "political party committee." The definition of "accounts payable" is expanded to include credit extended to candidate committees and political action committees.

The bill introduces new reporting requirements for campaign treasurers, mandating accurate record-keeping and the reporting of contributions and expenditures. It requires treasurers to submit separate notices for significant disbursements to controlling persons and emphasizes the need for reports detailing expenditures or disbursements made on behalf of or for the benefit of the reporting person by agents or independent contractors.

Additionally, the bill establishes specific limitations on contributions, stating that all contributions made by political committees established, financed, maintained, or controlled by the same person or group shall be considered to have been made by a single political committee. It prohibits donations made in fictitious names and addresses self-dealing by controlling persons within committees, categorizing certain uses of contributions for their benefit as prohibited self-dealing.

Violations of these provisions can result in significant fines, with specific penalties outlined for willful and knowing violations. The bill sets forth a presumption of self-dealing for significant disbursements made to controlling persons unless specific conditions are met. Overall, these amendments aim to strengthen the regulatory framework governing campaign finance in Rhode Island. The act would take effect upon passage.

Statutes affected:
2720: 17-25.3-1