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SS/SCS/HB 2203 - 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 that committee for the purpose of: 1) Returning contributions to donors; 2) Donating money to a charitable organization; or 3) Transferring money to another candidate committee or a political party committee. This provision is similar to a provision in SCS/SB 643 (2016). The act further 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. Finally, the act 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. SCOTT SVAGERA
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