HB 5318 — AN ACT CONCERNING COMMITTEE BANKING ACCOUNTS.

House of Representatives General Assembly RaisedFile Bill No.

5318163 February Session, 2026 LCOSubstitute House Bill No.

21095318 ReferredHouse toof Representatives, March 25, 2026 The Committee on BANKINGBanking Introducedreported by:through REP.

(BA)DOUCETTE ANof ACTthe CONCERNING13th CANDIDATEDist., COMMITTEEChairperson BANKINGof ACCOUNTS.the Committee on the part of the House, that the substitute bill ought to pass.

AN ACT CONCERNING COMMITTEE BANKING ACCOUNTS.

(3) "Candidate"Committee committee banking account" means a consumer transaction account used primarily for thethepurposesofacandidate purposescommittee, ofparty acommittee candidateor political committee;

and (4) "Consumer"Connecticut transactioncredit account"union" meanshas athe demandsame depositmeaning account,as shareprovided draftin accountsection or36a-2 similarof account.the general statutes;

(b)(5) On"Consumer andtransaction afteraccount" Octobermeans 1,a 2026,demand eachdeposit bankingsHB5318 institution/ shallFile make candidate committee banking accounts available to candidate LCO No.

2109163 1 ofsHB5318 3File RaisedNo. Bill No.5318 committees.

(c)163 Aaccount, candidateshare committeedraft banking account shallor offersimilar ataccount; least the following to the depositor:

(1)(6) A"Exempt debitcredit card,union" (2)means ATMa in-networkConnecticut access,credit (3)union, deposits,federal (4)credit checkunion cashingor forout-of-state checkscredit issuedunion byhaving thetotal bankingassets institutionof atless whichthan thefifty depositormillion holdsdollars; the candidate committee banking account, and (5) electronic monthly statements.

Nothing(7) in"Federal thiscredit subsectionunion" shallhas bethe construedsame tomeaning require a banking institution to include additional enhanced account features, such as preferredprovided orin incentivesection interest36a-2 ratesorrewardsprograms,withacandidateof committeethe bankinggeneral account.statutes;

(d)(8) A"Out-of-state bankingcredit institutionunion" shallhas allow a person to open a candidate committee banking account when the bankingsame institutionmeaning isas presentedprovided within asection State36a-2 Electionsof Enforcement Commission "Registration by Candidate"formthat (1)has been properly stampedandreceived by the commission,general andstatutes; (2) is accompanied by satisfactory proof of a federal employer identification number.

(e)(9) The"Party Bankingcommittee" Commissionerhas shall, in the coursesame ofmeaning evaluatingas theprovided performance of a Connecticut bank or a Connecticut credit union in meetingsection its9- obligations601 under part II of chapter 664a of the general statutes,statutes; provide credit to such bank or credit union for offering a candidate committee banking account.

and (10) "Political committee" has the same meaning as provided in section 9-601 of the general statutes.

(b) On and after October 1, 2026, each banking institution, other than an exempt credit union, shall make committee banking accounts available to candidate committees, party committees and political committees.

(c) A committee banking account shall offer at least the following to the depositor:

(1) A debit card, (2) ATM in-network access, (3) deposits, (4) check cashing for checks issued by the banking institution at which the depositor holds the committee banking account, (5) electronic monthly statements, (6) copies of cancelled checks, and (7) copies of deposit slips.

Nothing in this subsection shall be construed to require a banking institution to include additional enhanced account features, such as preferred or incentive interest rates or rewards programs, with a committee banking account.

(d) A banking institution shall allow a person to open a committee banking account when the banking institution is presented with a State Elections Enforcement Commission "Form 1", "Form 2" or "Form 3" that (1) has been filed with the commission or a town clerk, and (2) is accompanied by satisfactory proof of a federal employer identification sHB5318 / File No.

163 2 sHB5318 File No.

163 number.

(e) The Banking Commissioner shall, in the course of evaluating the performance of a Connecticut bank or a Connecticut credit union in meeting its obligations under part II of chapter 664a of the general statutes, provide credit to such bank or credit union for offering a committee banking account.

Section 1 October 1, 2026 New section LCOBA No.Joint Favorable Subst.

2109sHB5318 2/ ofFile 3 Raised Bill No.

5318163 Statement3 ofsHB5318 Purpose:File No.

To163 requireThe bankingfollowing institutionsFiscal toImpact makeStatement candidateand committeeBill bankingAnalysis accountsare availableprepared tofor candidatethe committees.benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do not represent the intent of the General Assembly or either chamber thereof for any purpose.

[ProposedIn deletionsgeneral, fiscal impacts are enclosedbased inupon brackets.a variety of informational sources, including the analyst’s professional knowledge.

ProposedWhenever additionsapplicable, areagency indicateddata byis underline,consulted exceptas thatpart whenof the entireanalysis, texthowever offinal aproducts billdo ornot resolutionnecessarily orreflect aan sectionassessment offrom aany billspecific ordepartment. resolution is new, it is not underlined.] LCO No.

2109OFA 3Fiscal ofNote 3State Impact:

None Municipal Impact:

None Explanation The bill, which requires certain banking institutions to make banking accounts available to candidates, parties, and political committees, results in no fiscal impact to the state.

sHB5318 / File No.

163 4 sHB5318 File No.

163 OLR Bill Analysis sHB 5318 AN ACT CONCERNING COMMITTEE BANKING ACCOUNTS.

SUMMARY StartingOctober1,2026,thisbillrequirescertainbankinginstitutions, other than credit unions with total assets of less than $50 million, to make “committee banking accounts”availableto candidate committees, party committees (state central or town), and political committees (see BACKGROUND).

Under the bill, these accounts are demand deposit, share draft, or similar accounts used primarily for these committees’ purposes.

The bill allows a person to open one of these accounts by presenting (1) a State Elections Enforcement Commission (SEEC) Form 1, 2, or 3 that has been filed with SEEC or a town clerk and (2) satisfactory proof of a federal employer ID number.

The bill requires that these accounts, at a minimum, offer a debit card, ATM in-network access, deposits, check cashing for checks issued by the same institution, electronic monthly statements, and copies of cancelled checks and deposit slips.

But institutions do not need to include additional enhanced account features, like preferred or incentive interest rates or rewards programs.