CA AB481

Redefines "late contribution" and "late independent expenditure" as contributions or expenditures of $1,000 or more made within 90 days before an election, replacing the prior definition based on campaign statement filing deadlines.

Requires each campaign committee to identify "principal officers" (individuals primarily responsible for approving the committee's political activities) in its statement of organization, with disclosure requirements varying based on the number of principal officers.

Mandates that principal officers of committees making independent expenditures sign a verification statement certifying they have not received unreported contributions for those expenditures and have not coordinated with the candidate or measure that is the subject of the expenditure.

Extends disclosure statement requirements for advertisements supporting or opposing candidates or ballot measures beyond just broadcast and mass mailing advertisements to include "any advertisement."

Makes principal officers responsible for maintaining the committee's accounts and records, consistent with existing requirements for treasurers and candidates.