HB 5318 Connecticut House · 2026 Regular Session

AN ACT CONCERNING COMMITTEE BANKING ACCOUNTS.

HB 5318 requires Connecticut banking institutions to offer standard banking accounts specifically for candidate committees (used by local election candidates) starting October 1, 2026. These accounts must include basic features like debit cards, ATM access, check cashing, deposits, and monthly electronic statements. Banks must accept a candidate committee’s registration form from the State Elections Enforcement Commission plus a federal employer identification number (EIN) to open such an account. The Banking Commissioner will credit banks that comply when evaluating their performance under existing law. This bill directly affects candidate committees and their banking relationships, with no additional features like rewards programs required.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2026

Committee Review

Floor Vote

Governor

Introduced Feb 26, 2026 Last action Mar 31, 2026

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What changed between versions

Raised Bill → BA Joint Favorable Substitute · 5 edits

MODERATE

The bill was renamed from a 'Raised Bill' to a 'Substitute Bill' and its title was broadened to cover all political committees, not just candidate committees. The definition of the required account was updated to include party and political committees, and the list of mandatory account features was expanded to include copies of cancelled checks and deposit slips. Additionally, the requirement to offer these accounts now applies to all banking institutions except those classified as 'exempt credit unions' based on asset size.

Scope change

The bill's scope expanded from requiring accounts only for 'candidate committees' to requiring them for 'candidate, party, and political committees.' It also introduced a new exemption for small credit unions with total assets under fifty million dollars.

DEFINITION

The definition of the required account was changed from 'candidate committee banking account' to 'committee banking account' to explicitly include party and political committees.

New definitions were added for 'Connecticut credit union,' 'federal credit union,' 'out-of-state credit union,' and 'exempt credit union' to clarify which institutions are subject to the law.

REQUIREMENT

The list of required account features was expanded to include copies of cancelled checks and copies of deposit slips.

The documentation required to open an account was updated from a specific 'Registration by Candidate' form to a broader list of forms (Form 1, 2, or 3) used by various types of committees.

ELIGIBILITY

The requirement to offer these accounts now applies to all banking institutions except 'exempt credit unions,' which are defined as credit unions with total assets of less than fifty million dollars.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 31, 2026

Lower · Passed

REF. BY HOUSE TO COMMITTEE ON Government Administration and Elections

lower

Mar 10, 2026

Lower · Passed

Joint Favorable Substitute

lower

Feb 26, 2026

Committee

REF. TO JOINT COMM. ON Banking

lower

2 primary · 0 co-sponsors