Bill Summary: SB 1043 - Dark Money Regulation

• Establishes "independent expenditure political committees" as new entities that can make unlimited independent expenditures and contributions to other independent expenditure committees, implementing federal court rulings

• Prohibits foreign-influenced entities (those with foreign ownership of 5%+ or multiple foreign owners with 20%+ stake) from making contributions or expenditures in Connecticut elections

• Requires enhanced disclosure of independent expenditures including identification of top five donors during 90-day pre-election periods and reporting of "covered transfers" (money flowing through intermediaries)

• Mandates online platforms selling political advertisements exceeding $200 annually maintain public records of ad purchases including audience targeting, views, dates, rates, and purchaser information

• Increases transparency requirements for political consultants and subvendors, requiring detailed reporting to candidates and committees of expenditures over $500 and establishing penalties for consultants making unauthorized expenditures