Bill S.86 proposes amendments to the campaign finance reporting requirements for candidates running for State and county offices in Vermont. It mandates that candidates who have not made expenditures or received contributions that would typically require disclosure must file a report and an affirmative statement with the Secretary of State. The bill also introduces penalties for candidates who fail to file required registrations, reports, or disclosures in a timely manner. Specifically, it amends 17 V.S.A. § 2964 to require these candidates to submit the aforementioned report, while deleting the previous provision that deemed a failure to file as an affirmative statement that no report was required.

Additionally, the bill establishes a new section, 17 V.S.A. § 2974, which outlines the penalties for delinquent filings. Candidates will receive a notice of delinquency and have five business days to rectify the situation, after which they will incur a $10 daily penalty, capped at $1,000. The Secretary of State has the discretion to reduce or waive penalties for good cause. The bill also includes provisions for addressing fraudulent filings and allows for complaints regarding non-compliance to be referred to the Attorney General or appropriate State's Attorney. The act is set to take effect on July 1, 2025.

Statutes affected:
As Introduced: 17-2964