SB2658 Summary

• Requires candidates and political committees to file a statement of organization with the appropriate office prior to accepting contributions or making expenditures.

• Establishes a centralized online filing and searchable database system for campaign finance reports maintained by the Secretary of State, with implementation phased in by January 1, 2027.

• Limits corporate contributions to $1,000 per calendar year and prohibits foreign nationals from making contributions or expenditures in connection with elections or ballot measures.

• Increases civil penalties for late report filing, with daily fines ranging from $250-$1,000 for candidate committees based on office level, and $1,000 for political committees, starting on the fifth calendar day after the filing deadline.

• Requires candidates and treasurers to maintain detailed accounts updated within 10 business days, disclose loans and credit extensions with repayment terms, and preserve records for four years.