Senate Bill 25-148 Introduced

A Bill for an Act

• Page 1, Line 101Concerning modifications to campaign finance requirements,

• Page 1, Line 102and, in connection therewith, restricting

• Page 1, Line 103contributions from lobbyists and modifying reporting

• Page 1, Line 104and disclosure requirements for independent

• Page 1, Line 105expenditures, electioneering communications, federal

• Page 1, Line 106committees, and nonprofit entities.

Bill Summary

(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.)

The bill modifies campaign finance requirements contained in the "Fair Campaign Practices Act" that are related to prohibitions on lobbyist contributions and reporting and disclosure requirements for independent expenditures, electioneering communications, federal committees, and nonprofit entities.

Prohibition on lobbyist contributions (section 2 of the bill). A lobbyist is prohibited from soliciting, making, or promising to make a contribution to an elected official or candidate for the following state offices: members of the general assembly, the governor or lieutenant governor, the secretary of state, the state treasurer, or the attorney general. Current law applies this prohibition only when the general assembly is in regular session or when any measure adopted by the general assembly in a regular session is pending before the governor for approval or disapproval. The bill changes current law so that the prohibition on lobbyist contributions applies throughout the year, regardless of whether the general assembly is in session, and also extends this prohibition to cover any individual who has been a professional lobbyist within the preceding 6 months.

Reporting and disclosure requirements for independent expenditures, electioneering communications, federal committees, and nonprofit entities. The state constitution defines an "electioneering communication" to mean certain communication that unambiguously refers to a candidate and that is disseminated to the public within 30 days before a primary election or within 60 days before a general election. Senate Bill 19-086, enacted in 2019, expanded the definition of this term for purposes of campaign finance disclosures to include any communication that satisfies all other requirements specified in the state constitution but that is disseminated between the primary election and the general election. The bill further expands this definition for purposes of campaign finance disclosures to include any communication that satisfies all other requirements specified in the state constitution but that is disseminated within 90 days prior to a primary election (sections 1, 4, and 7).

The state constitution defines an "independent expenditure" to mean any purchase, payment, distribution, loan, advance, deposit, or gift of money by any person for the purpose of expressly advocating the election or defeat of a candidate or supporting or opposing a ballot issue or ballot question and that is not controlled by or coordinated with a candidate or agent of a candidate. Under existing law, any person making an independent expenditure in excess of $1,000 within 30 days before a primary, general, or regular biennial school election is required to file a report within 48 hours after obligating money for the independent expenditure. The bill expands this requirement to cover the 90 days before a primary, general, or regular biennial school election and the period between the primary and general elections and shortens the time for the filing of this report to within 24 hours after obligating money for the independent expenditure (section 3).

Existing law requires a disclosure on any communication that constitutes an expenditure in excess of $1,000. This disclosure must include the name of the person paying for the communication and, if the person paying for the communication is not a natural person, must identify a natural person who is the registered agent of the nonnatural person. The bill requires that this disclosure statement also identify the names of the 3 persons that have contributed the most money to the person identified as paying for the communication for the purpose of making the communication (section 3).

The bill also requires a written affirmation from any committee registered with the federal election commission (federal committee) that contributes, donates, or transfers $1,000 or more to any committee that is required to report or register under the "Fair Campaign Practices Act" (section 6). The bill prohibits any committee from accepting such a contribution, donation, or transfer unless the federal committee provides a written affirmation that includes, as applicable:

• The name, address, and identification number of the federal committee;
• The name and address of the treasurer of the federal committee;
• The amount and recipient of the contribution, donation, or transfer; and
• A list of any person that transferred $1,000 or more to the federal committee, which includes the person's name and address and, if the person is a natural person, the person's occupation and employer.
• The name and address of the nonprofit entity;
• The name and address of the registered agent of the nonprofit entity;
• The amount and recipient of the contribution, donation, or transfer; and
• A list of any person that is not a natural person and that donated $1,000 or more to the nonprofit entity, which includes the person's name and address.

In addition, the bill requires a written affirmation from any nonprofit entity that contributes, donates, or transfers $1,000 or more to an issue committee, independent expenditure committee, or political organization (section 5). The bill prohibits any such committee or organization from accepting a contribution, donation, or transfer from a nonprofit entity unless the nonprofit entity provides a written affirmation that includes, as applicable:

• Page 3, Line 1Be it enacted by the General Assembly of the State of Colorado:

• Page 4, Line 1SECTION 1.  In Colorado Revised Statutes, 1-45-103, amend (9) as follows:

• Page 4, Line 21-45-103.  Definitions. As used in this article 45, unless the context otherwise requires:

• Page 4, Line 3(9)  "Electioneering communication" has the same meaning as set

• Page 4, Line 4forth in section 2 (7) of article XXVIII of the state constitution. For

• Page 4, Line 5purposes of the disclosure required by section 1-45-108, "electioneering

• Page 4, Line 6communication" also includes any communication that satisfies all other

• Page 4, Line 7requirements set forth in said section 2 (7) of article XXVIII but that is

• Page 4, Line 8broadcast, printed, mailed, delivered, or distributed within ninety days

• Page 4, Line 9before a primary election or between the primary election and the general election.

• Page 4, Line 10SECTION 2.  In Colorado Revised Statutes, 1-45-105.5, amend (1)(a), (1)(b), (1)(c)(I), and (1)(c)(II) as follows:

• Page 4, Line 111-45-105.5.  Contributions from lobbyists to members of

• Page 4, Line 12general assembly, governor, and statewide officeholders - definitions.

• Page 4, Line 13(1) (a)  No professional lobbyist, volunteer lobbyist, or principal of a

• Page 4, Line 14professional lobbyist or volunteer lobbyist, or former professional

• Page 4, Line 15lobbyist shall make or promise to make a contribution to, or solicit or promise to solicit a contribution for:

• Page 4, Line 16(I)  A member of the general assembly or candidate for the general assembly; when the general assembly is in regular session;

• Page 4, Line 17(II) (A)  The governor or a candidate for governor; when the

• Page 4, Line 18general assembly is in regular session or when any measure adopted by

• Page 4, Line 19the general assembly in a regular session is pending before the governor for approval or disapproval; or

• Page 4, Line 20(B)  The lieutenant governor, the secretary of state, the state

• Page 5, Line 1treasurer, the attorney general, or a candidate for any of such offices. when the general assembly is in regular session.

• Page 5, Line 2(b)  As used in this subsection (1):

• Page 5, Line 3(I)  "Former professional lobbyist" means any individual

• Page 5, Line 4who has been a professional lobbyist within the preceding six months.

• Page 5, Line 5(I)  (II)  "Principal" means any person that employs, retains,

• Page 5, Line 6engages, or uses, with or without compensation, a professional or

• Page 5, Line 7volunteer lobbyist. One does not become a principal, nor may one be

• Page 5, Line 8considered a principal, merely by belonging to an organization or owning stock in a corporation that employs a lobbyist.

• Page 5, Line 9(II)  (III)  The terms "professional lobbyist" and "volunteer

• Page 5, Line 10lobbyist" shall have the meanings ascribed to them in section 24-6-301. C.R.S.

• Page 5, Line 11(c) (I)  Nothing contained in this subsection (1) shall be construed

• Page 5, Line 12to prohibit prohibits lobbyists and their principals from raising money,

• Page 5, Line 13when the general assembly is in regular session or when regular session

• Page 5, Line 14legislation is pending before the governor, except as specifically

• Page 5, Line 15prohibited in paragraph (a) of this subsection (1) subsection (1)(a) of this section.

• Page 5, Line 16(II)  Nothing contained in this subsection (1) shall be construed to

• Page 5, Line 17prohibit prohibits a lobbyist or principal of a lobbyist from participating

• Page 5, Line 18in a fund-raising fundraising event of a political party, when the general

• Page 5, Line 19assembly is in regular session or when regular session legislation is

• Page 5, Line 20pending before the governor, so long as the purpose of the event is not to

• Page 5, Line 21raise money for specifically designated members of the general assembly,

• Page 5, Line 22specifically designated candidates for the general assembly, the governor, or specifically designated candidates for governor.

• Page 6, Line 1SECTION 3.  In Colorado Revised Statutes, 1-45-107.5, amend (4)(c), (5)(a)(I), (5)(a)(II), and (6); and add (5)(a)(III) as follows:

• Page 6, Line 21-45-107.5.  Independent expenditures - restrictions on foreign

• Page 6, Line 3corporations - registration - disclosure - disclaimer requirements -

• Page 6, Line 4definitions. (4) (c)  The information required to be disclosed pursuant to

• Page 6, Line 5paragraph (a) of this subsection (4) subsection (4)(a) of this section

• Page 6, Line 6must be reported in accordance with the schedule specified in section

• Page 6, Line 71-45-108 (2) for political committees; except that any person making an

• Page 6, Line 8independent expenditure in excess of one thousand dollars within thirty

• Page 6, Line 9ninety days before a primary, general, or regular biennial school election

• Page 6, Line 10or between the primary and general elections shall provide such

• Page 6, Line 11report within forty-eight twenty-four hours after obligating moneys money for the independent expenditure.

• Page 6, Line 12(5) (a)  In addition to any other applicable requirements provided

• Page 6, Line 13by law, and subject to the provisions of this section, any communication

• Page 6, Line 14that is broadcast, printed, mailed, or delivered; placed on a website,

• Page 6, Line 15streaming media service, or online forum for a fee; or that is otherwise

• Page 6, Line 16distributed that constitutes an independent expenditure for which the

• Page 6, Line 17person making the independent expenditure expends in excess of one

• Page 6, Line 18thousand dollars on the communication shall include in the communication a statement that:

• Page 6, Line 19(I)  The communication has been "paid for by (full name of the person paying for the communication)"; and

• Page 6, Line 20(II)  Identifies a natural person who is the registered agent if the

• Page 6, Line 21person identified in subsection (5)(a)(I) of this section is not a natural

• Page 6, Line 22person; and

• Page 7, Line 1(III)  For an independent expenditure or an electioneering

• Page 7, Line 2communication, identifies the names of the three persons that

• Page 7, Line 3have, in the aggregate, contributed the most money to the

• Page 7, Line 4person identified in subsection (5)(a)(I) of this section for the purpose of making the communication.

• Page 7, Line 5(6)  Any person that expends an aggregate amount in excess of one

• Page 7, Line 6thousand dollars on an independent expenditure in any one calendar year

• Page 7, Line 7shall deliver written notice to the appropriate officer that shall list lists

• Page 7, Line 8with specificity the name of the candidate whom the independent

• Page 7, Line 9expenditure is intended to support or oppose. Where the independent

• Page 7, Line 10expenditure is made within thirty ninety days before a primary, general,

• Page 7, Line 11or regular biennial school election or between the primary and

• Page 7, Line 12general elections, the notice required by this subsection (6) must be

• Page 7, Line 13delivered within forty-eight twenty-four hours after the person obligates moneys money for the independent expenditure.

• Page 7, Line 14SECTION 4.  In Colorado Revised Statutes, 1-45-108, amend (1)(a)(III) as follows:

• Page 7, Line 151-45-108.  Disclosure - definitions - repeal. (1) (a) (III)  Any

• Page 7, Line 16person who that expends one thousand dollars or more per calendar year

• Page 7, Line 17on electioneering communications or regular biennial school

• Page 7, Line 18electioneering communications shall report to the secretary of state, in

• Page 7, Line 19accordance with the disclosure required by this section, the amount

• Page 7, Line 20expended on the communications and the name and address of any person

• Page 7, Line 21that contributes more than two hundred fifty dollars per year to the person

• Page 7, Line 22expending one thousand dollars or more on the communications. If the

• Page 7, Line 23person making a contribution of more than two hundred fifty dollars is a

• Page 7, Line 24natural person, the disclosure required by this section must also include

• Page 8, Line 1the person's occupation and employer. Electioneering communication

• Page 8, Line 2reports must include the name of the candidate or candidates

• Page 8, Line 3unambiguously referred to in the electioneering communication or regular

• Page 8, Line 4biennial school electioneering communication. In accordance with section

• Page 8, Line 51-45-103 (9), an electioneering communication includes any

• Page 8, Line 6communication that satisfies all other requirements set forth in section 2

• Page 8, Line 7(7) of article XXVIII of the state constitution but that is broadcast,

• Page 8, Line 8printed, mailed, delivered, or distributed within ninety days before a

• Page 8, Line 9primary election or between the primary election and the general election.

• Page 8, Line 10SECTION 5.  In Colorado Revised Statutes, add 1-45-108.7 as follows:

• Page 8, Line 111-45-108.7.  Nonprofit entity contributions to issue committees,

• Page 8, Line 12independent expenditure committees, or political organizations -

• Page 8, Line 13disclosure - affirmation - definition. (1) (a)  A nonprofit entity that

• Page 8, Line 14contributes, donates, or transfers one thousand dollars or

• Page 8, Line 15more to an issue committee, an independent expenditure

• Page 8, Line 16committee, or a political organization during any one calendar

• Page 8, Line 17year shall provide to the committee or organization an

• Page 8, Line 18affirmation, in writing, that includes the information listed in

• Page 8, Line 19subsection (1)(b) of this section. After reaching the one

• Page 8, Line 20thousand dollar threshold, a nonprofit entity shall provide a

• Page 8, Line 21new affirmation statement for each subsequent contribution,

• Page 8, Line 22donation, or transfer of one thousand dollars or more to the same committee or organization during that calendar year.

• Page 8, Line 23(b)  The affirmation required by this subsection (1) must

• Page 8, Line 24include, as applicable:

• (I)  The name and address of the nonprofit entity;

• Page 9, Line 1(II)  The name and address of the registered agent of the nonprofit entity;

• Page 9, Line 2(III)  The amount of the contribution, donation, or

• Page 9, Line 3transfer and the name of the committee or organization that received the contribution, donation, or transfer; and

• Page 9, Line 4(IV)  A list of any person that is not a natural person and

• Page 9, Line 5that donated one thousand dollars or more to the nonprofit

• Page 9, Line 6entity during the preceding twelve-month period that ends on

• Page 9, Line 7the date of contribution, donation, or transfer that triggers

• Page 9, Line 8the affirmation. The list must include the person's name and address.

• Page 9, Line 9(2)  An issue committee, an independent expenditure

• Page 9, Line 10committee, or a political organization shall not accept a

• Page 9, Line 11contribution, donation, or transfer, as described in subsection

• Page 9, Line 12(1)(a) of this section, from a nonprofit entity unless the

• Page 9, Line 13nonprofit entity provides a written affirmation to the

• Page 9, Line 14committee or organization that satisfies the requirements of

• Page 9, Line 15subsection (1)(b) of this section. The committee or organization

• Page 9, Line 16shall include the written affirmation when reporting the

• Page 9, Line 17contribution, donation, or transfer to the appropriate filing

• Page 9, Line 18officer and shall retain the written affirmation for not less

• Page 9, Line 19than one year following the date of the end of the election cycle during which the affirmation was received.

• Page 9, Line 20(3)  Nothing in this section:

• Page 9, Line 21(a)  Requires an issue committee, an independent

• Page 9, Line 22expenditure committee, or a political organization to make any

• Page 10, Line 1additional disclosure or report pursuant to this section to the

• Page 10, Line 2extent the committee or organization is already providing

• Page 10, Line 3disclosures and reports in a manner that satisfies the requirements of this article 45; or

• Page 10, Line 4(b)  Authorizes the secretary of state to require

• Page 10, Line 5disclosure of the name of any natural person who donates to a nonprofit entity.

• Page 10, Line 6(4)  As used in this section, "nonprofit entity" means any

• Page 10, Line 7nonprofit or not-for-profit corporation, organization, or other

• Page 10, Line 8entity that is exempt from taxation pursuant to section 501 (c)

• Page 10, Line 9of the federal "Internal Revenue Code of 1986," 26 U.S.C. sec. 501(c).

• Page 10, Line 10SECTION 6.  In Colorado Revised Statutes, add 1-45-108.8 as follows:

• Page 10, Line 111-45-108.8.  Federal committee contributions to committees -

• Page 10, Line 12disclosure - affirmation - definitions. (1) (a)  A federal committee

• Page 10, Line 13that contributes, donates, or transfers one thousand dollars

• Page 10, Line 14or more to a committee during any one calendar year shall

• Page 10, Line 15provide to the committee an affirmation, in writing, that

• Page 10, Line 16includes the information listed in subsection (1)(b) of this

• Page 10, Line 17section. After reaching the one thousand dollar threshold, a

• Page 10, Line 18federal committee shall provide a new affirmation statement

• Page 10, Line 19for each subsequent contribution, donation, or transfer of one

• Page 10, Line 20thousand dollars or more to the same committee during that calendar year.

• Page 10, Line 21(b)  The affirmation required by this subsection (1) must

• Page 10, Line 22include, as applicable:

• Page 11, Line 1(I)  The name, address, and identification number of the federal committee;

• Page 11, Line 2(II)  The name and address of the treasurer of the federal committee;

• Page 11, Line 3(III)  The amount and recipient of the contribution, donation, or transfer; and

• Page 11, Line 4(IV)  A list of any person that transferred one thousand

• Page 11, Line 5dollars or more to the federal committee during the preceding

• Page 11, Line 6twelve-month period that ends on the date of contribution,

• Page 11, Line 7donation, or transfer that triggers the affirmation. The list

• Page 11, Line 8must include the person's name and address and, if the person is a natural person, the person's occupation and employer.

• Page 11, Line 9(2)  A committee shall not accept a contribution,

• Page 11, Line 10donation, or transfer, as described in subsection (1)(a) of this

• Page 11, Line 11section, from a federal committee unless the federal committee

• Page 11, Line 12provides a written affirmation to the committee that satisfies

• Page 11, Line 13the requirements of subsection (1)(b) of this section. The

• Page 11, Line 14committee shall include the written affirmation when reporting

• Page 11, Line 15the contribution, donation, or transfer to the appropriate filing

• Page 11, Line 16officer and shall retain the written affirmation for not less

• Page 11, Line 17than one year following the date of the end of the election cycle during which the affirmation was received.

• Page 11, Line 18(3)  Nothing in this section requires a committee to make

• Page 11, Line 19any additional disclosure or report pursuant to this section to

• Page 11, Line 20the extent the committee is already providing disclosures and

• Page 11, Line 21reports in a manner that satisfies the requirements of this

• Page 11, Line 22article 45.

• Page 12, Line 1(4)  As used in this section, unless the context otherwise requires:

• Page 12, Line 2(a)  "Committee" means any committee that is required to

• Page 12, Line 3report to or otherwise register with an appropriate officer pursuant to this article 45.

• Page 12, Line 4(b)  "Federal committee" means any committee that has registered with the federal election commission.

• Page 12, Line 5SECTION 7.  In Colorado Revised Statutes, 1-45-108.3, amend (3) as follows:

• Page 12, Line 61-45-108.3.  Disclaimer statement - committees - electioneering

• Page 12, Line 7communications - direct ballot issue or ballot question expenditures.

• Page 12, Line 8(3)  In addition to any other applicable requirements provided by law, any

• Page 12, Line 9person who expends one thousand dollars or more per calendar year on

• Page 12, Line 10electioneering communications or regular biennial school electioneering

• Page 12, Line 11communications shall, in accordance with the requirements specified in

• Page 12, Line 12section 1-45-107.5 (5), state in the communication the name of the person

• Page 12, Line 13making the communication. For purposes of this subsection (3), an

• Page 12, Line 14"electioneering communication" also includes any communication that

• Page 12, Line 15satisfies all other requirements set forth in section 2 (7) of article XXVIII

• Page 12, Line 16of the state constitution but that is broadcast, printed, mailed, delivered,

• Page 12, Line 17or distributed within ninety days before a primary election or between the primary election and the general election.

• Page 12, Line 18SECTION 8.  Act subject to petition - effective date. Sections

• Page 12, Line 191, 3, 4, 5, 6, and 7 of this act take effect January 1, 2026, and the

• Page 12, Line 20remainder of this act takes effect at 12:01 a.m. on the day following the

• Page 12, Line 21expiration of the ninety-day period after final adjournment of the general

• Page 12, Line 22assembly; except that, if a referendum petition is filed pursuant to section

• Page 13, Line 11 (3) of article V of the state constitution against this act or an item,

• Page 13, Line 2section, or part of this act within such period, then the act, item, section,

• Page 13, Line 3or part will not take effect unless approved by the people at the general

• Page 13, Line 4election to be held in November 2026 and, in such case, will take effect on the date of the official declaration of the vote thereon by the governor.