Bill > HB1185

This bill amends Virginia's campaign finance laws to allow campaign committees, which are groups that manage a candidate's campaign contributions and expenditures, to designate more than one campaign depository, which is a financial institution account used for these purposes. Previously, committees were required to use only a single depository. This change will affect how candidates report their financial institutions and how treasurers maintain records for each depository, ensuring that the balance of all campaign depositories can be reconciled with reported amounts. The bill also specifies that these changes will take effect on January 1, 2027.