Bill > HB2701

This bill establishes new campaign contribution limits for candidates in Virginia, restricting individuals from donating more than $20,000 to candidates for statewide offices or Senate seats, and $10,000 to House of Delegates candidates in a single election cycle. The contribution limits will be adjusted biennially based on the Consumer Price Index and start with 2025 as the base year. The bill prohibits candidates and political committees from soliciting or accepting contributions that exceed these limits, with some specific exceptions such as in-kind contributions from political party committees and candidates' personal contributions to their own campaigns. The legislation introduces complex rules for aggregating and tracking contributions, including provisions that consider contributions from related entities or family members as part of the same contribution limit. Additionally, the bill establishes a special reporting requirement for candidates who contribute significant personal funds to their own campaigns, with thresholds of $400,000 for statewide races and $200,000 for delegate races. Notably, the bill includes civil penalties for violations of these contribution limits, with potential fines up to twice the amount of excess contributions, and specifically targets attempts to circumvent contribution limits by subdividing contributions or using intermediary entities.