CT SB00498

Establishes three new account types for party committees: "federal-only account" (subject to Federal Election Campaign Act limits), "state-only account" (subject to Connecticut state election law limits), and "compliant account" (subject to both federal and state limits).

Allows party committees to create compliant accounts that are completely segregated from other accounts and contain only funds raised in compliance with both federal and state law, with no transfers from federal-only accounts or Federal Election Commission-registered committees.

Requires compliant accounts to be aggregated with state-only accounts for purposes of applying contribution, expenditure, and organization expenditure limits under Connecticut state election law.

Modifies the definition of "organization expenditure" to specify that such expenditures must be made from a party committee's state-only account or compliant account.

Requires party committees to report in financial statements whether contributions, expenditures, and expenses were allocated to state-only or compliant accounts, and if allocated among multiple accounts, the percentages paid from each account.

All provisions take effect January 1, 2019.