2026 SESSION

INTRODUCED

26104968D

HOUSE BILL NO. 480

Offered January 14, 2026

Prefiled January 12, 2026

A BILL to amend the Code of Virginia by adding in Chapter 9.3 of Title 24.2 an article numbered 4.2, consisting of sections numbered 24.2-949.14, 24.2-949.15, and 24.2-949.16, relating to elections; campaign finance; federal political action committees; reporting requirements.

—————

Patron—Helmer

—————

Referred to Committee on Privileges and Elections

—————

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Chapter 9.3 of Title 24.2 an article numbered 4.2, consisting of sections numbered 24.2-949.14, 24.2-949.15, and 24.2-949.16, as follows:

Article 4.2.

Federal Political Action Committees.

§ 24.2-949.14. Federal political action committees; reporting requirements.

A. The provisions of this section are applicable only to federal political action committees.

B. After a federal political action committee has submitted a statement of organization pursuant to § 24.2-949.2 and upon making contributions of $50,000 or more to a candidate for statewide office, $25,000 or more to a candidate for an office in the General Assembly, or $10,000 or more to a candidate for any other office of the Commonwealth, the federal political action committee shall report its contributions and contributors in accordance with this section to the State Board by computer or electronic means as prescribed in § 24.2-946.1.

C. The reports required by this section shall be filed on a form prescribed by the State Board and shall include (i) a report of the contributions the federal political action committee has made to candidate campaign committees or political committees in the Commonwealth during the period covered by the report and (ii) a list of each contributor who has contributed to the federal political action committee $2,500 or more in the aggregate during the period covered by the report with the contributor's name, address, occupation, employer, and place of business and the dates and amounts of the contributor's contributions during the period covered by the report. The first filed report shall be complete for the entire period from the time the federal political action committee submitted its statement of organization. The first filed report after any period of hiatus shall be complete for the entire period from the beginning of the election cycle for any candidate contributions that triggered the resumption of reporting requirements.

D. Federal political action committees shall file the prescribed campaign finance reports as follows:

1. Not later than April 15 complete from the preceding report through March 31;

2. Not later than June 1 complete from the preceding report through May 25;

3. Not later than September 15 complete from the preceding report through August 31;

4. Not later than October 15 complete from the preceding report through October 7; and

5. Not later than January 15 complete from the preceding report through December 31, and then continuing in accordance with this subsection until the last report after the end of the election cycle for any candidate contributions that triggered the reporting requirements of this section or upon submission of a termination report to the Federal Election Commission.

E. Upon transfer of a designated contribution to a designated candidate's campaign committee, the federal political action committee shall provide information to the campaign committee to identify the contributor as provided by § 24.2-947.4.

§ 24.2-949.15. Large dollar contribution reporting requirement for federal political action committees.

In addition to the scheduled reports required by § 24.2-949.14, any federal political action committee required to file such scheduled reports shall also report any single contribution or loan of $10,000 or more received at any time during the calendar year within three business days of receipt of the contribution or loan.

1. The report shall be filed on a "large dollar contribution report" form prescribed by the State Board and shall be filed electronically in the same manner as the federal political action committee files its scheduled reports.

2. Any contribution or loan reported pursuant to this section shall also be reported on the next subsequent report required under § 24.2-949.14 following receipt of the contribution or loan.

3. For the purposes of this section, federal political action committees shall report as one contribution multiple contributions from a single source that have been subdivided into smaller amounts or given through different bank accounts for the purpose of evading the $10,000 threshold. A federal political action committee that receives contributions from affiliated organizations shall not be deemed to be receiving contributions from a single source.

§ 24.2-949.16. Special report required of certain large pre-election expenditures.

A. Any contribution or expenditure reported pursuant to this section shall also be reported on the first scheduled report required by this article after any election.

B. Federal political action committees required to make reports pursuant to § 24.2-949.14 shall also report any single contribution received or expenditure made of $1,000 or more between May 26 and the third Tuesday in June in odd-numbered years. Such contribution or expenditure shall be reported electronically pursuant to § 24.2-946.1, and the report shall be received by the State Board by 11:59 p.m. on the following day or, for a contribution received or expenditure made on a Saturday, by 11:59 p.m. on the following Monday. However, any such contribution received or expenditure made within the 24 hours prior to the third Tuesday in June shall be reported and a report thereof received on the day prior to the third Tuesday in June.

C. Federal political action committees shall report any single contribution received or expenditure made of $1,000 or more between October 8 and the date of the November general election. Such contribution or expenditure shall be reported electronically pursuant to § 24.2-946.1, and the report shall be received by the State Board by 11:59 p.m. on the following day or, for a contribution received or expenditure made on a Saturday, by 11:59 p.m. on the following Monday. However, any such contribution received or expenditure made within the 24 hours prior to the election day shall be reported and a report thereof received on the day prior to the election.