The proposed bill seeks to establish a new regulation regarding campaign financing in South Dakota. Specifically, it prohibits candidates or their campaign committees from accepting any contributions or loans from authorized committees of candidates running for federal office. This measure aims to enhance the integrity of state-level elections by preventing potential conflicts of interest and ensuring that campaign funding remains within the confines of state regulations.

The new legal language introduced in this bill clearly defines the restriction on contributions and loans, aligning with federal definitions as outlined in 52 U.S.C. 30101. This addition to chapter 12-27 of South Dakota law is set to take effect on January 1, 2025, marking a significant change in the state's approach to campaign finance and candidate funding sources.