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Ethics commission tables proposed rule on PAC bank accounts and registration timing
Summary
After extended debate over statutory text and practical implementation, the State Ethics Commission voted to table a proposed rule that would have required political action committees to maintain segregated bank accounts at inception while leaving registration thresholds tied to the $25,000 statutory test.
The State Ethics Commission on Sept. 17 tabled a proposed rule that would clarify when political action committees must open a separate bank account and how that requirement interacts with a new statutory provision (subsection e0.1).
Staff described the rule as intended to make clear “a political action committee is always required to maintain an isolated bank account, or a separate segregated account in the name…
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