Senate Bill No. 2299 Summary

• Expands campaign finance reporting requirements by creating new disclosure rules for initiated petition sponsoring committees, requiring statements when requesting petition approval and when submitting signed petitions to the Secretary of State.

• Changes election reporting deadlines from the 12th day before elections to the 32nd day before elections, with reporting periods extended from the 20th to the 40th day before elections.

• Modifies corporate and association contribution rules to allow direct independent expenditures (instead of just indirect) for initiative and referendum measures, with 48-hour reporting requirements to the Secretary of State.

• Increases audit violation penalties from 5% to 2% of contributions and expenditures found in violation, and changes the general penalty for campaign finance violations from an infraction to a class A misdemeanor.

• Requires incidental committees and certain political committees to file contribution statements disclosing contributions for political purposes and independent expenditures within 48 hours of making them.