The bill, HB 411, addresses the procedure for returning excess campaign contributions and establishes guidelines for handling unclaimed property related to these contributions. It amends existing law to specify that checks drawn on a campaign account for returning excess contributions that are not negotiated within six months will be presumed abandoned. In such cases, the candidate, political committee, or other responsible parties must transfer the unclaimed funds in accordance with the Uniform Unclaimed Property Act of 1997. This change aims to clarify the process and ensure that excess contributions are properly managed rather than escheating to the state.

Additionally, the bill includes technical amendments to enhance clarity and compliance with reporting requirements. It mandates that candidates and political committees report payments made as unclaimed property, ensuring transparency in campaign finance practices. The amendments also update the definitions and procedures related to the presumption of abandonment for various types of property, specifically focusing on campaign contributions. Overall, the bill seeks to streamline the handling of excess contributions while reinforcing accountability in campaign finance reporting.

Statutes affected:
HB411 Original: 18:7(B)(21), 18:5(B)(20)
HB411 Engrossed: 18:7(B)(21), 18:5(B)(20)
HB411 Enrolled: 9:154(A)(18), 18:7(B)(21), 18:5(B)(20)
HB411 Act 615: 9:154(A)(18), 18:7(B)(21), 18:5(B)(20)
Conference Committee Report, #5021, House Adopted, Senate Adopted: 9:154(A)(18)
Conference Committee Report, #5021, House Proposed, Senate Proposed: 9:154(A)(18)