Bill S.86 aims to enhance campaign finance transparency by requiring candidates for State and county offices to submit a report and affirmative statement if they have not made expenditures or received contributions that would necessitate disclosure under existing law. Specifically, it amends 17 V.S.A. § 2964 to mandate that candidates who are not otherwise required to file a report must still submit a statement confirming their financial inactivity. This change replaces the previous provision that deemed a failure to file as an affirmative statement of non-requirement.

Additionally, the bill introduces new penalties for candidates who fail to file required registrations, reports, or disclosures in a timely manner, as outlined in the newly added 17 V.S.A. § 2974. The Secretary of State will issue a notice of delinquency, allowing candidates five business days to rectify the situation, after which they will incur a daily penalty of $10, capped at $1,000. The Secretary of State may waive penalties under certain circumstances. The act is set to take effect on July 1, 2025.

Statutes affected:
As Introduced: 17-2964