SB 486 - This act modifies the law relating to campaign finance.
Political party committees are redefined to only allow one state party committee per political party for the purposes of campaign finance.
Persons acting as a treasurer or deputy treasurer of a committee shall not act as such for another committee at the same time.
Committees shall have only one address and shall not have the same address as any other committee. Post office boxes are not acceptable committee addresses.
Committees shall not make contributions to other committees.
The act imposes contribution limits for individuals and committees in support of candidates running for public office. Surcharges will be imposed upon committees that accept or give contributions exceeding the limits.
The limits are as follows for contributions made by or accepted from any person other than the candidate and all committees:
• $25,000 for Governor, Lieutenant Governor, Secretary of State, Treasurer, Auditor, or Attorney General;
• $10,000 for Senators;
• $2,500 for Representatives;
• $2,500 for any other public office.
The amount of aggregate contributions made by a single contributor to a political party committee in a calendar year shall not exceed $50,000.
State senators and representatives and candidates for those offices shall report contributions received during the legislative session exceeding $500 within 48 hours of receiving the contribution. The same 48 hour reporting requirement is imposed for contributions given to the Governor, all statewide elected officials, and candidates for those offices during the legislative session and any time when legislation from the regular legislative session awaits gubernatorial action.
This act is similar to HB 633 (2009), HB 687 (2009), SB 389 (2009), SB 270 (2009), CCS#3/HCS#2/SB 844 (2010), SB 648 (2010),SB 546 (2012), SB 825 (2012), SB 92 (2013), SB 298 (2013), SB 227 (2013), and identical to SB 385 (2013).