Bill > SB581

This bill aims to increase transparency in political spending by requiring the disclosure of "dark money" political expenditures. The key provisions include: 1. Expanding the reporting requirements for independent expenditures exceeding $1,000 in a calendar year, including details on the person or entity making the expenditure, contributors, and the purpose of the expenditure. 2. Introducing new disclosure requirements for "covered transfers" - transfers of $10,000 or more (or $50,000 or more between affiliates) made for the purpose of funding campaign-related disbursements. The recipient of a covered transfer must obtain and disclose information about the original contributors to the transfer. 3. Requiring any person making independent expenditures or electioneering communications to disclose information about covered transfers received in the previous 24 months. 4. Establishing penalties for failure to comply with the new disclosure requirements, including fines and potential jail time. The goal of the bill is to provide more transparency around the sources of funding for political advertising and messaging, in order to inform the public about who is behind campaign-related disbursements.

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http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=581&year=2020&sessiontype=RS&btype=bill