CCS#2/SS/SCS/HB 2203 - This act modifies provisions of law relating to campaign finance.
DISSOLUTION OF CANDIDATE COMMITTEES (SECTION 105.465)
This act provides that any person who registers as a lobbyist shall dissolve his or her candidate committee. In the course of dissolving any such committee, such officials are only permitted to transfer money from any such committee for the purpose of:
1) Returning contributions to donors;
2) Donating money to a charitable organization; or
3) Transferring money to a political party committee.
Pursuant to Section 105.478, any knowing violation of this provision is punishable as a class B misdemeanor for a first violation, and a class D felony for all subsequent violations.
This provision is similar to a provision in HB 1574 (2016) and HB 2165 (2016).
INVESTMENT OF CAMPAIGN FUNDS (SECTIONS 130.021 AND 130.034)
The act requires funds held in any candidate committee, campaign committee, debt service committee, or exploratory committee to be liquid so that the funds may be readily available for the specific and limited purposes allowed by current law. Committee funds may only be invested in short term treasury instruments or short term bank certificates of one year or less. Such funds are not required to be placed in an interest-bearing account.
Pursuant to Section 130.081, any purposeful violation of this provision is punishable as a Class A misdemeanor.
This provision is similar to a provision in HB 1998 (2016).
LIMITATIONS ON TRANSFERS OF COMMITTEE FUNDS (SECTION 130.097)
The act further prohibits any person who has transferred funds from:
• his or her candidate committee; or
• any committee over which he or she exerts control over the expenditures of such committee
to any committee shall not thereafter be compensated by such committee in any form.
Finally, the act provides that no person who registers as a lobbyist shall transfer any funds from a candidate committee, exploratory committee, debt service committee, or continuing committee under his or her control to any such committee controlled by a candidate or public official.
Pursuant to Section 130.081, any purposeful violation of these provisions is punishable as a Class A misdemeanor.
This act contains a severability clause.