HB 2670

Abstract

Campaign finance; campaign required tax-exempt organization disclosure; work group; report; civil penalties. Establishes campaign finance reporting requirements for tax-exempt organizations making contributions or independent expenditures for the purpose of advocating for the election or defeat of a clearly identified Virginia candidate. Committees are prohibited from accepting contributions from tax-exempt organizations that do not file required campaign finance disclosure reports. Civil penalties for violations of the limits established by the bill may equal up to four times the excess contribution amounts. The bill also requires electronically filed independent expenditure reports to be made publicly available within 48 hours of being filed and to be entered into a publicly available campaign finance database accessible through the Internet. Finally, the bill requires that the Chair of the House Privileges and Elections Committee and the Chair of the Senate Privileges and Elections Committee convene a work group to evaluate campaign finance contribution limits and disclosure requirements among the various states and at the federal level and to report their findings by November 30, 2025.

A BILL to amend and reenact §§ 24.2-945.1, 24.2-946.1, 24.2-953.1, 24.2-953.2, and 24.2-953.3 of the Code of Virginia and to amend the Code of Virginia by adding in Chapter 9.3 of Title 24.2 an article numbered 4.2, consisting of sections numbered 24.2-949.14 through 24.2-949.24, and by adding in Article 8 of Chapter 9.3 of Title 24.2 a section numbered 24.2-953.6, relating to campaign finance; campaign required tax-exempt organization disclosure; work group; report; civil penalties.