Bill > S507

This bill aims to improve campaign finance reporting requirements for state ballot question committees by introducing several key changes. First, it defines "in-kind contribution" as anything of value provided to a committee or candidate in a non-monetary form, such as free goods or services, discounted rates, or expenses paid on behalf of the committee. The bill modifies existing reporting requirements by removing certain exemptions for political committees and ballot question committees, and now requires treasurers of ballot question committees to submit more detailed financial reports. Specifically, these reports must include a comprehensive list of in-kind contributions over $50, providing details like the contributor's name, address, date of contribution, type, and value. Additionally, the committee must disclose new liabilities, including the creditor's name, address, and purpose of the liability. The bill also establishes a more rigorous filing schedule for these committees, mandating monthly reports leading up to the election, reports on specific dates before and after the election, and annual reports until all financial obligations are settled. These changes are designed to enhance transparency and accountability in campaign financing for state ballot questions.

Budget and Finance, Government Affairs

https://malegislature.gov/Bills/194/S507