Election Law - Campaign Finance - Exploratory Committees

HB 157 clarifies rules for exploratory committees - entities potential candidates form to test their viability before officially running for office. It removes contribution limits for these committees, requires them to return unused funds within 120 days (to donors or designated groups like party committees), and mandates that if they become an official campaign, equipment purchases must be at fair market value. Exploratory committees may only spend funds on specific activities like surveys, staff, website costs, or qualifying digital communications. This directly affects potential candidates and their donors by changing campaign finance handling during the pre-candidacy phase.