HB0007 Bill Summary

• Establishes contribution limits for political committees effective January 1, 2011: single-candidate committees capped at $5,000 from individuals and $10,000 from corporations/associations annually; multi-candidate committees capped at $10,000 from individuals and $20,000 from corporations/associations annually.

• Creates constituent services committees allowing public officials to accept up to $5,000 annually per contributor for costs related to constituent services and office maintenance, with funds prohibited from election-related expenses or transfers to other political committees.

• Implements quarterly financial reporting requirements (replacing semi-annual reports) with specific filing deadlines and establishes electronic filing mandates for contributions over $500 made in the 60 days before elections.

• Defines independent expenditures and requires disclosure within 2 business days for those exceeding $3,000, with continuing disclosure obligations for expenditures exceeding $20,000 in aggregate during election periods.

• Establishes a Public Financing of Judicial Elections Task Force to assess public financing systems for judicial elections, requiring a report by January 1, 2012, and creates a public database of election law violations accessible on the State Board of Elections website.