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Bill > S1478
NJ S1478
NJ S1478Requires candidate and joint candidates close campaign depository accounts not later than seven years following end of service in elected public office or unsuccessful election.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill requires the campaign depository accounts of candidates and joint candidates for elected public office to be closed not later than seven years following the end of service in the elected public office or the unsuccessful attempt to be elected to public office, as the case may be. Under the bill, each campaign depository account established by a candidate or joint candidates, or former candidate or joint candidates, would be required to be closed not later than seven years following the end of service in the elected public office or the unsuccessful attempt to be elected to public office, as the case may be, of the candidate or candidates for whom the campaign depository account was established. The bill requires such candidates who on the bill's effective date maintain or participate either directly or indirectly in the management or control of one or more candidate committees or joint candidates committees, or both, beyond that seven-year timeframe, to wind up or cause to be wound up the affairs of those committees within one year. For all campaign depository accounts of candidates or joint candidates required to be closed after seven years following the end of service in an elected public office or the unsuccessful attempt to be elected to public office, as the case may be, the bill requires funds remaining in those accounts that have not been transferred to permitted purposes to be transferred to the State General Fund. The bill directs the Election Law Enforcement Commission to promulgate any rules and regulations necessary for its implementation.
AI Summary
This bill mandates that campaign depository accounts, which are bank accounts used by candidates or joint candidates to manage campaign funds, must be closed no later than seven years after the candidate leaves elected office or their election attempt is unsuccessful. For those currently managing such accounts beyond this seven-year period, they will have one year from the bill's enactment to close them. Any remaining funds in these accounts, after being used for permitted campaign purposes, must be transferred to the State General Fund. The Election Law Enforcement Commission, a state agency responsible for overseeing campaign finance, will be tasked with creating the necessary regulations to implement these changes.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S1478 |
| BillText | https://pub.njleg.gov/Bills/2026/S1500/1478_I1.HTM |
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