An Act relative to pay-to-play schemes

HD 2265, titled "An Act relative to pay-to-play schemes," prohibits investment advisers from providing services to state or local government entities within two years of making campaign contributions to officials who influence those contracts. It also bans advisers from soliciting contributions to secure contracts and bars officials from accepting contributions before awarding contracts to the same adviser. Small contributions (up to $350 per official for whom the contributor could vote) are exempt, and violations carry fines up to $1,000 or six months in jail. The bill directly affects investment advisers, government officials, and the process for awarding government investment advisory contracts.