MD SB27

Establishes a legal framework for exploratory committees, defined as entities created by potential candidates to assess their viability for public office before formally filing for candidacy

Applies existing campaign finance requirements for political committees to exploratory committees, with certain exceptions related to contribution limits and specific reporting provisions

Permits exploratory committee disbursements only for viability-related purposes including polls/surveys, voter communications, staff, websites, digital communications, office space, and electronic equipment

Prohibits exploratory committees from pre-paying expenses for goods or services intended for use by a future campaign committee; equipment purchases by resulting campaign committees must be at fair market value

Requires exploratory committees to return remaining funds within 120 days after the candidate files for office, declines to run, or the filing deadline passes—either pro rata to contributors or to party committees, the candidate's campaign, 501(c)(3) nonprofits, or the Fair Campaign Financing Fund

Donations to exploratory committees are not subject to contribution limits; the bill takes effect June 1, 2025