Requires enhanced reporting of campaign contributions and expenditures by independent expenditure committees.

S 1988 requires independent expenditure committees (groups spending money to influence elections without coordinating with candidates) to report campaign contributions and expenditures over $200 more frequently and with greater detail. Specifically, committees must file reports within 72 hours for transactions 13-8 days before an election and within 24 hours for the final week, disclosing the contributor's name, address, occupation, and employer, or recipient's details and purpose of spending. This bill directly affects these committees by tightening disclosure timelines and expanding required information beyond current standards. The changes aim to increase transparency around election spending, particularly during critical pre-election periods. (Bill S 1988, "Requires enhanced reporting of campaign contributions and expenditures by independent expenditure committees.")