HB1414 Summary

• Adds "independent expenditure" as an exclusion to the definition of "contribution" in campaign finance law, clarifying that independent expenditures do not count as contributions to candidates or political parties.

• Requires corporations, cooperative corporations, limited liability companies, and associations making independent expenditures or non-segregated fund contributions to file a statement with the secretary of state within forty-eight hours, including contributor name, amount, recipient, and total year-to-date political spending.

• Mandates disclaimers on all independent expenditure advertisements or communications identifying the funding organization, its principal business address, and stating the expenditure is independently funded and not made in consultation with candidates or political committees.

• Establishes class A misdemeanor penalties for officers or directors of corporations, cooperative corporations, limited liability companies, or associations who violate reporting requirements, including filing false reports or willfully failing to file required reports.

• Allows state political parties and affiliated nonprofit entities to receive donations in separate segregated funds exclusively for purchasing, maintaining, or renovating buildings, with annual reporting to the secretary of state.