This bill aims to enhance transparency in election financing by amending existing laws and introducing new requirements for the disclosure of election expenditures in West Virginia. It modifies section 3-8-2 of the Code of West Virginia to require individuals or entities making independent expenditures over $1,000 to file detailed disclosure statements, including information about contributors and the nature of the expenditures. Notably, it specifies that contributions exceeding $1,000 to the entity making the expenditure must be reported, with exceptions for certain types of contributions. Additionally, the bill introduces a new section, 3-8-8a, which mandates disclosures related to "covered transfers" of funds that are intended for campaign-related disbursements, aiming to combat the influence of "dark money" in political advertising.

The legislation emphasizes the importance of public awareness regarding the sources of campaign funding, citing concerns over the increasing prevalence of undisclosed financial contributions in political advertising. It establishes penalties for non-compliance and authorizes the Secretary of State to create rules for implementation. The bill's provisions are designed to ensure that voters have access to information about who is financing political communications, thereby promoting accountability and transparency in the electoral process.

Statutes affected:
Introduced Version: 3-8-2, 3-8-8a