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Secretary of State says House Bill 4024 will need major tech fixes and funding; $25M placeholder cited
Summary
Secretary Tobias Reed and deputy Ricardo Lujan Valerio told the committee that implementing HB 4024 (2024 campaign finance reform) will require legislative clarifications, a new secure reporting system to replace ORESTAR, expanded staff and an early $25 million placeholder budget request to meet an accelerated timeline.
Secretary of State Tobias Reed and deputy chief Ricardo Lujan Valerio gave a detailed update on implementing House Bill 4024, the 2024 campaign finance law that creates contribution limits, new committee types and original-source-of-funds disclosure requirements.
Ricardo Lujan Valerio said the office had exhausted all actions within its authority but that several open issues require legislative clarification: how to define "established finance, maintain, or control" (EFMC) networks that tie contribution limits across connected…
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