The bill seeks to amend and reenact various sections of the Code of West Virginia concerning election regulation and campaign finance. It introduces new definitions, including "corporation" and "membership organization," and clarifies reporting requirements for financial statements from candidates and their committees. Notably, it allows corporations and membership organizations to contribute to candidates and political action committees, while establishing limits on these contributions. The bill also revises existing definitions, such as "electioneering communication," and introduces terms like "financial agent" and "independent expenditure" to better define roles and financial activities in election campaigns.

Additionally, the bill enhances transparency in campaign financing by updating requirements for financial statements, including detailed reporting for contributions over $250. It permits corporate contributions under specific conditions and mandates that anonymous contributions be reported and redirected to the General Revenue Fund if the donor is unidentified. The legislation prohibits coercive solicitation of contributions and requires that individuals soliciting funds inform potential donors of their rights. It also removes a previous provision allowing membership organizations or corporations to authorize the use of their funds for contributions, establishes penalties for violations, and empowers the State Election Commission to propose rules and investigate alleged infractions.

Statutes affected:
Introduced Version: 3-8-1a, 3-8-5a, 3-8-5c, 3-8-8
Engrossed Version: 3-8-1a, 3-8-5a, 3-8-5c, 3-8-8