SB 1126 - Campaign Finance Law Revisions

• Establishes "independent expenditure political committees" as a new type of political committee that may make unlimited independent expenditures but cannot make contributions except to other independent expenditure political committees.

• Expands the definition of "independent expenditure" to include detailed standards for determining coordination between spenders and candidates, including specific criteria involving candidate advisors, family members, and fundraising activities.

• Requires persons making independent expenditures exceeding $1,000 to file detailed reports within 24 hours identifying the expenditure amount, candidate or referendum affected, and funding sources (covered transfers) exceeding $5,000.

• Restricts business entities and organizations from making coordinated expenditures to support or oppose candidates, and prohibits independent expenditure political committees organized by business entities or organizations from making any contributions except to other independent expenditure committees.

• Revises nomination filing deadlines for minor party candidates and petitioning candidates from 62 days before an election to the tenth day after the primary, and adjusts Citizens' Election Program grant adjustments to occur every four years starting in 2018 rather than annually.