Campaign finance; establishes campaign contribution limits, contingency, effective clause.

Campaign finance; campaign contribution and expenditure limits; contingency. Establishes campaign contribution and expenditure limits for all persons and committees in the Commonwealth. The effectiveness of the provisions of the bill is contingent on certification by the Attorney General to the Code Commission that any such provision is reasonably probable to be upheld as constitutional due to (i) an opinion by the Supreme Court; (ii) The adoption of an amendment to the U.S. Constitution; or (iii) any other reason, to be specified in the certification. The bill also states that in the opinion of the General Assembly, the Supreme Court's decisions in Citizens United v. FEC, 558 US. 310 (2010), McCutcheon v FEC, 572 U.S. 185 (2014), and other related campaign finance cases were wrongly decided, that such decisions undermine the integrity of Virginia's democratic process by preventing reasonable limits on campaign contributions and expenditures, and that contribution and expenditure limits will enhance public trust in Virginia's electoral system, facilitate greater transparency, and ensure that elected officials remain accountable to all Virginians. The provisions of the bill establishing expenditure limits for candidates do not become effective unless reenacted by the 2027 Session of the General Assembly.