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.
HB480 would create a new article in Virginia election law specifically governing federal political action committees (federal PACs) that make significant contributions to candidates in the Commonwealth. Once a federal PAC has registered with the State Board and crosses certain Virginia contribution thresholds, it would have to file detailed campaign finance reports disclosing its Virginia contributions and identifying contributors who gave $2,500 or more during the reporting period, including name, address, occupation, employer, and place of business. The bill also establishes a regular reporting schedule tied to Virginia election dates and the federal PAC’s activity in the state.
In addition to the periodic reports, the bill requires faster disclosure of large donations or loans: any single contribution or loan of $10,000 or more would have to be reported within three business days. It also adds special pre-election reporting for contributions and expenditures of $1,000 or more during the late stages of odd-year primary and general election periods, with near-immediate filing deadlines. The bill further requires that when a federal PAC transfers a designated contribution to a candidate committee, it must provide information identifying the original contributor.
HB480 would expand Virginia’s campaign finance disclosure regime by imposing state-level reporting obligations on federal PACs that participate in Virginia elections. It would add new statutory sections to Title 24.2 and require electronic filing with the State Board of Elections, creating additional compliance duties for PACs, and additional disclosure information for candidates, political committees, and the public. The bill would affect federal PACs making substantial contributions to statewide, General Assembly, or other Virginia candidates, and would increase transparency around large donations and pre-election spending.
The available record shows no committee transcript or vote history, so there is no documented floor or committee debate to indicate broad support or opposition. The bill was referred to the House Committee on Privileges and Elections and was left in committee, suggesting it did not advance. Based on the text alone, the measure appears to be framed as a transparency and disclosure bill rather than a substantive restriction on contributions.
The main likely point of contention is the burden the bill places on federal PACs, especially the requirement to disclose detailed contributor information and file rapid reports for large contributions and pre-election activity. Supporters would likely view the measure as improving transparency and public accountability in Virginia elections, while opponents may argue that it creates duplicative state reporting requirements, increases administrative complexity, and could chill political participation by out-of-state or federally organized committees. Because there are no transcripts, specific arguments from legislators are not available.