CA SB686

Requires limited liability companies (LLCs) that qualify as political committees or committee sponsors to file a statement of members with the Secretary of State.

Statement of members must list all persons with at least 10% membership interest or who made cumulative capital contributions of $10,000 or more to the LLC after or within 12 months before it qualified as a committee or sponsor.

Statements must be filed within 10 days of qualifying as a committee, or within 24 hours if the LLC qualifies within 30 days of an election and has made contributions or independent expenditures related to that election.

Amended statements must be filed within 10 days (or 24 hours if within 90 days of an election) when the LLC receives additional capital contributions of $10,000 or more after qualifying as a committee.

Contributions from LLC members identified in the statement shall be aggregated with contributions from the LLC itself for campaign finance purposes.