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CCS#2/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 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. 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. 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. This act contains a severability clause. SCOTT SVAGERA
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