Revises provisions relating to campaign finance. (BDR 24-996)
What changed between versions
Political action committees are now authorized to contribute money to legal defense funds and nonprofit corporations, in addition to existing categories like candidates and political parties.
The definition of a 'committee for political action' was revised to explicitly exclude nonprofit organizations, certain corporations, and labor unions from campaign finance regulations.
Entities that are excluded from the 'committee for political action' definition must now report independent expenditures if they exceed $1,000.
Defeated candidates and former public officers are now required to dispose of unspent campaign contributions by October 1, 2029, if they do not run for office again within four years.
Former public officers who leave office must dispose of unspent contributions within 15 days after the four-year ineligibility period ends, rather than waiting for a specific later date.