Vermont 2023-2024 Regular Session

Vermont House Bill H0355

Introduced
2/23/23  

Caption

An act relating to requiring additional campaign finance reporting and disclosures

Impact

The proposed changes would have substantial implications for how political funding is managed within the state. By enforcing stricter regulations on the identification of contributors and stipulating that significant funding transfers be documented, H0355 aims to mitigate potential abuses in campaign financing. This could lead to a more informed electorate, as individuals will have improved access to information regarding the financial backing of candidates and political movements. Consequently, it is expected to engender a higher level of trust in the electoral process by potentially deterring undisclosed or anonymous contributions that have characterized political financing in the past.

Summary

House Bill H0355 introduces comprehensive amendments to Vermont's campaign finance laws, aimed at increasing the transparency and accountability of political funding. The bill mandates additional reporting requirements for candidates, political committees, and parties concerning contributions and expenditures. Notably, it requires that contributions exceeding $250 be accompanied by a transfer record that discloses the source of the funds, thus ensuring a clearer chain of financial accountability in campaign financing. Furthermore, it stipulates stricter guidelines for the retention and reporting of financial records, making it imperative for all involved parties to maintain thorough documentation for a minimum of four years post-election cycle.

Contention

Despite the potential advantages of enhanced transparency, H0355 is not without its points of contention. Critics argue that the regulations could impose undue burdens on candidates and small political committees who may lack the resources to comply with the rigorous reporting requirements. Concern is also raised over the delicate balance between ensuring transparent funding sources and infringing on privacy rights of contributors. Moreover, some stakeholders argue that the bill does not address the full spectrum of campaign finance issues, particularly those involving large independent expenditures, thus questioning its comprehensive efficacy in reforming campaign finance in Vermont.

Companion Bills

No companion bills found.

Previously Filed As

VT S0086

An act relating to establishing penalties for the failure of a candidate to file campaign finance disclosures

VT HB2719

Campaign finance and reporting

VT SF4160

Original sources of campaign finance reporting disclosure required, record keeping and reporting required, disclosure requirements modifications, providing penalties, and appropriating money

VT SB42

Campaign Finance Reporting Changes

VT SF905

Reporting disclosure requirement of original sources of campaign funds

VT SB01027

An Act Concerning Campaign Finance Disclosures.

VT SB3217

Relating To Campaign Finance.

VT HB1881

Relating To Campaign Finance.

VT SB3164

Relating To Campaign Finance.

VT HB1478

Relating To Campaign Finance.

Similar Bills

MN SF4160

Original sources of campaign finance reporting disclosure required, record keeping and reporting required, disclosure requirements modifications, providing penalties, and appropriating money

MN SF905

Reporting disclosure requirement of original sources of campaign funds

IL SB0172

ELEC CD-FOREIGN NATIONALS

IL HB1765

POL CONTRIBUTION LIMITS

IL SB0290

ELEC CD-FOREIGN NATIONALS

WV SB107

Requiring certain disclosures of election expenditures

IL HB2975

POL CONTRIBUTION LIMITS

AL SB291

Fair Campaign Practices Act; transfer of funds among political parties and local or other affiliated party organizations authorized