HB 5471 Summary

• Repeals prior definitions of "independent expenditure" and "coordinated expenditure" and establishes a new definition of independent expenditure as spending made without consent, coordination, or consultation with candidates or their agents.

• Creates a rebuttable presumption that certain expenditures are NOT independent, including those made in cooperation with candidates, based on candidate-provided information, by persons holding positions with benefiting candidates or committees, or for communications that inform candidates of content and timing.

• Allows individuals, entities, and committees to make unlimited independent expenditures; requires filing reports within 48 hours (or 24 hours if within 90 days of election) for independent expenditures exceeding $1,000 for statewide races.

• Permits corporations, cooperatives, partnerships, professional associations, limited liability companies, partnerships, and organizations to make independent expenditures despite general contribution prohibitions.

• Requires disclaimers on independent expenditure advertisements identifying the entity, its chief executive officer, principal business address, and stating the message is independent; tax-exempt organizations must also disclose their top five contributors.