The Senate Rules Committee passed a bill that would make changes to the state’s campaign finance reporting law on Wednesday.
SB 4 would, if enacted, revise the campaign finance reporting schedule and campaign finance reporting requirements. The bill passed on a 6-3 vote.
The bill was sponsored by Sen. Peter Wirth, D-Santa Fe, and Sen. Katy Duhigg, D-Albuquerque.
These revisions include definition updates, allowing reports to be filed the next business day should the due date be on a state holiday, bars candidates from making an expenditure to repay an interest-bearing loan from themselves and requires loan terms to be reported.
It also expands the legislative session prohibited fundraising period to include incumbents or candidates for a proscribed office, campaign committee or legislative caucus committee.
Proscribed offices include state-level elected offices including governor and lieutenant governor and state house and senate members.
The bill also adds electronic communications to the list of required disclosures.
The Fiscal Impact Report states that the bill needs to clarify the definition of “electronic communications.”
The report also states that the bill would have “indeterminate but minimal” impact on the general fund.
Senate Minority Leader Gregory Baca, R-Belen, Sen. Mark Moores, R-Albuquerque, and Sen. Cliff Pirtle, R-Roswell, voted against the bill and Committee Ranking Member Stuart Ingle, R-Portales, excused himself from the vote as did Sen. Linda Lopez, D-Albuquerque.