The bill amends South Dakota's campaign finance disclosure laws to enhance transparency regarding loans received by political committees. Specifically, it requires that campaign finance disclosure reports include the outstanding balance of each loan received, in addition to the existing requirements for reporting contributions and expenditures. The amendments to Section 12-27-24 introduce two new reporting requirements: the outstanding balance of each loan received and the manner in which each loan must be reported similarly to contributions.

Furthermore, the bill also amends Section 12-27-29, which mandates that the treasurer of a political committee maintain detailed records, including the outstanding balance of each loan received. This change aims to ensure that political committees keep accurate and comprehensive records of their financial activities, thereby promoting accountability and transparency in campaign financing. The treasurer is required to preserve these records for a specified duration, and violations of these provisions are classified as misdemeanors, with increased penalties for repeat offenses.

Statutes affected:
Introduced, 02/05/2025: 12-27-24, 12-27-29
Enrolled, 03/11/2025: 12-27-24, 12-27-29