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SCS/HB 2203 - This act provides that any person currently serving or who formerly served as a public official who registers as a lobbyist shall dissolve his or her candidate committee and any other committee over which he or she has control. 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 another candidate or political party committee. This 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. SCOTT SVAGERA
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