To provide notice to any political committees violating the filing requirements prior to assessing any civil fines and giving the Secretary of State authority to grant additional time for compliance not to exceed an additional 14 days.
What changed between versions
New definitions for 'contribution', 'party headquarters', 'party headquarters committee', and 'county executive committee' were added to clarify what these terms mean under the law.
New contribution limits were established: $10,000 per person for party headquarters committees and $1 million for county executive committee headquarters.
New financial reporting requirements mandate that party headquarters committees file verified financial statements within 90 days of contributions or expenditures exceeding $250.
New restrictions prohibit using party headquarters committee funds for satellite offices, utilities for satellite offices, or general political purposes.
The Secretary of State is now required to propose rules to implement these new provisions and must retain financial statements as public records for at least six years.