Bill S.86 aims to enhance campaign finance transparency and accountability by introducing new reporting requirements for candidates running for State and county offices in Vermont. Specifically, 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. This requirement is a significant addition to the existing law, which previously allowed for a failure to file to be interpreted as an affirmative statement that no report was necessary.

Additionally, the bill establishes penalties for candidates who fail to file required registrations, reports, or disclosures in a timely manner. The Secretary of State will issue a notice of delinquency, allowing candidates five business days to rectify the situation before incurring a daily penalty of $10, capped at $1,000. The bill also includes provisions for the Secretary of State to reduce or waive penalties under certain circumstances and outlines the process for handling fraudulent filings. This legislation is set to take effect on July 1, 2025.

Statutes affected:
As Introduced: 17-2964