SESSION OF 2024
SUPPLEMENTAL NOTE ON HOUSE BILL NO. 2535
As Amended by House Committee on Elections
Brief*
HB 2535, as amended, would prohibit making or
accepting contributions in cryptocurrency by a candidate or
candidate, political, or party committee and prohibit
candidates and candidate committees from holding any
campaign asset in cryptocurrency.
The bill would also remove a provision prohibiting the
use of political funds subject to reporting requirements under
the Campaign Finance Act in or for the campaign of a
candidate for federal elective office.
Background
The bill was introduced by the House Committee on
Elections at the request of Representative Waggoner.
[Note: Provisions of the bill are similar to those in 2023
HB 2167, as amended by the House Committee on
Elections.]
House Committee on Elections
In the House Committee hearing, a representative of the
Kansas Governmental Ethics Commission (KGEC) provided
proponent testimony, stating the bill would proactively
address cryptocurrency contributions and would allow political
committees and party committees to support their federal
____________________
*Supplemental notes are prepared by the Legislative Research
Department and do not express legislative intent. The supplemental
note and fiscal note for this bill may be accessed on the Internet at
http://www.kslegislature.org candidates. The representative also suggested an
amendment to prohibit holding any campaign asset in
cryptocurrency.
No other testimony was provided.
The House Committee amended the bill to prohibit a
candidate or candidate committee from holding any campaign
asset in cryptocurrency.
Fiscal Information
According to the fiscal note prepared by the Division of
the Budget on the bill, as introduced, KGEC indicates
enactment of the bill would have a fiscal effect if a
cryptocurrency contribution triggered an investigation, but it is
unable to estimate the effect.
The Office of the Secretary of State states the bill would
not have a fiscal effect on agency operations.
Any fiscal effect associated with enactment of the bill is
not reflected in The FY 2025 Governor’s Budget Report.
The Kansas Association of Counties states the bill would
not have a fiscal effect.
Campaign finance; cryptocurrency; campaign contributions; candidate; political
committee; party committee; candidate for federal office; Campaign Finance Act;
Kansas Governmental Ethics Commission
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