Revises provisions relating to campaign finance. (BDR 24-996)

Existing law requires every committee for political action to, not later than 1 week after receiving contributions the sum of which, in the aggregate is $1,000 or more, open and maintain a separate account in a financial institution located in the United States for the deposit of any contributions received. (NRS 294A.130) Section 1 of this bill authorizes a committee for political action to use money in the account for certain purposes. Existing law provides that, except in certain circumstances, certain corporations and other business organizations as well as labor unions are excluded from the definition of a “committee for political action.” (NRS 294A.0055) Section 2 of this bill revises the definition of a “committee for political action” to exclude from the definition: (1) any nonprofit organization or nonprofit corporation duly organized under federal law or under the laws of this State, any other state, the District of Columbia or any territory of the United States; (2) all individual corporations and business organizations that have filed certain organizational information with the Secretary of State; and (3) all labor unions. Existing law requires certain persons, committees and political parties to report certain independent expenditures or other expenditures. (NRS 294A.210) Section 3.5 of this bill requires any entity excluded from the definition of “committee for political action” pursuant to section 2 that makes certain expenditures in excess of $1,000 to report such expenditures. Existing law governs the disposition of unspent campaign contributions by a candidate or former public officer. Under existing law, a candidate who is elected to office may use unspent contributions in the candidate's next election, but a candidate who is defeated is required to dispose of unspent contributions. (NRS 294A.160) Section 3 of this bill authorizes a candidate who is defeated to use unspent contributions in the candidate's next election. If, within 4 years, such a candidate doesn't file a declaration of candidacy or appear on an official ballot at any election, section 3 requires the defeated candidate to dispose of unspent contributions. Existing law authorizes certain former public officers who resigned or did not run for reelection to use unspent contributions in a future election. In such a circumstance, existing law requires such unspent contributions to be disposed of within 4 years if the former public officer does not file a declaration of candidacy or appear on the ballot. (NRS 294A.160) Section 3 of this bill instead requires any former public officer to dispose of unspent contributions not later than 15 days after the 4-year period immediately following leaving office. Section 4 of this bill requires any candidate who was defeated and any former officer who resigned or did not run for reelection who have unspent contributions, and for whom the time period in which he or she is required to dispose of such contributions has yet to expire, to dispose of such contributions not later than October 1, 2029.