Bill > HB2719

This bill updates West Virginia's campaign finance and election laws by making several key changes. The bill expands the definition of "corporation" to include for-profit and nonprofit corporations, incorporated membership organizations, cooperatives, trade associations, and certain limited liability companies. It allows corporations and membership organizations to directly contribute to candidates, candidate committees, and political action committees, subject to specific contribution limits. The bill modifies financial reporting requirements to include more detailed information about corporate and membership organization contributions, such as their principal place of business and type of business. Specifically, contributions over $250 from corporations or membership organizations must now include additional details about the contributor. The bill also clarifies that corporations and membership organizations can establish separate segregated funds (political action committees) to make political contributions, with restrictions on solicitation and use of funds. Contribution limits are maintained, with individuals, corporations, and membership organizations restricted to contributing no more than $2,800 to a candidate's committee for nomination or election, and no more than $5,000 to a political action committee related to a particular election. The bill aims to provide more transparency in campaign financing while allowing broader participation from corporate and membership organization entities in the political process.