MI SB0985

Requires late contributions of $200 or more to be reported to the filing officer within 48 hours of receipt, with filing by any written means without requiring an original signature.

Establishes late filing fees for unreported late contributions: $25 per business day initially, $25 additional per day after 3 business days, and $50 additional per day after 10 business days, capped at $2,000.

Replaces election-based reporting schedule with quarterly reporting for candidate committees and non-candidate committees on April 30, July 31, and October 31 of each year.

Requires independent committees and political committees to file campaign statements quarterly (April 25, July 25, October 25) and in odd/even years with varying dates, plus daily reporting during 14 days before and after primary and general elections for contributions/expenditures exceeding $1,000 per day.

Creates penalties including misdemeanor charges (up to $1,000 fine or 90 days imprisonment) for failing to file two required statements for more than 30 days, and allows courts to prohibit guilty candidates from assuming office or receiving public compensation.