AN ACT ESTABLISHING A TAX ON CERTAIN POLITICAL COMMITTEES AND CANDIDATE COMMITTEES.

SB 429 would impose a tax on political committees and candidate committees that raise or spend money within the state. The tax revenue would be dedicated to funding the Citizens' Election Program and other election-related activities. This bill directly affects committees managing campaign finances, requiring them to pay the tax on their fundraising and spending. The key mechanism is redirecting this new tax revenue to support public financing of elections, not to fund general government operations.