Bill > SB384

This bill, titled "Campaign finance disclosure," aims to enhance transparency in political fundraising and spending by amending the Campaign Reporting Act. Key provisions include requiring individuals or entities making independent expenditures or "covered transfers" (funds transferred for political purposes, often to be used for independent or coordinated expenditures) exceeding $1,000 to report these transactions to the secretary of state within specific timeframes, with faster reporting required for larger amounts or those made close to an election. These reports must detail the parties involved, the amount, date, and purpose of the expenditure or transfer, and for certain amounts, the top funders contributing to the expenditure. The bill also mandates that advertisements funded by independent expenditures of over $3,000 must include disclaimers identifying the top three funders, and it clarifies what constitutes a "coordinated expenditure," treating it as a contribution to the candidate or party involved. Furthermore, the bill requires electronic filing of all campaign finance reports, updates definitions for various campaign finance terms, modifies registration and disclosure requirements for political committees, adjusts reporting deadlines and content, and increases civil penalties for violations of the Campaign Reporting Act.