Substitute Senate Bill 5840 amends multiple sections of existing campaign finance law (RCW 29B.10.240; 29B.10.390; 29B.25.020; 29B.25.070; 29B.25.090; 29B.25.100) to change reporting schedules, define certain terms, tighten recordkeeping and disclosure rules, and revise procedures for committee dissolution. It adds a cross-referenced definition of "final report" and a detailed definition of when an entity "participates" in an election, requires new and more frequent filing deadlines (monthly reports on the 10th with modified look-back periods and on the 25th July–October, weekly bank-deposit reports each Monday during specific pre-election windows, and additional monthly reports from July through October), expands required report content (loan and promissory note details, transfers, expenditures over $50, top sources of large payments, debt disclosures over $750, certification that contributions are not financed or controlled by foreign nationals), and sets bookkeeping, certification, inspection, retention, and amended-report rules. The bill directs the Public Disclosure Commission to post dissolution notices, acknowledge dissolutions, and adopt related rules, and it sets an effective date of January 1, 2028. These are procedural and definitional changes to existing law rather than creation of a new substantive crime; the extracted text describes obligations, reporting frequencies, thresholds (for example $25 identification threshold for weekly reports, $50 expenditure reporting threshold, $750 thresholds for small-activity certifications and debt reporting), inspection and certification requirements, and conditions under which a continuing political committee may dissolve (including a 60-day waiting rule and requirements that no complaints or unpaid penalties remain). The text refers to violations (for example refusing a required inspection appointment) but the extracted facts do not provide changes to penalties or new criminal penalties. The provided excerpts are incomplete in places: the full text of the cross-referenced "final report" provision and some referenced subsections and timelines are not included, portions of lists and several subsection contexts are cut off, and the exact statutory language and whether certain alterations replace or supplement existing text is unclear from the extracted material alone.

If enacted, candidates, political committees, incidental committees, their treasurers, and related sponsor or subsidiary units will need to report financial activity far more frequently and with more detail. Committees must file an annual January 1 statement about expected participation, update that status within 24 hours when participation begins, and submit monthly reports on the 10th year‑round (with a limited low-activity certification option January–June) plus extra 25th‑of‑month reports from July through October for election participants; during the pre‑election months they must also file weekly deposit reports listing contributors over $25, disclose loans, transfers, individual expenditures over $50, and report debts over $750 on short deadlines. Treasurers must keep books current (within five business days normally, one day during the 10 days before an election), make records available for appointment-based inspection in the pre‑election period, keep records for five years, and follow stricter dissolution steps before a committee can stop filing; these requirements take effect January 1, 2028. The most affected parties are treasurers and small or newly formed committees, which will likely face higher administrative work, faster turnaround on filing and recordkeeping, and higher compliance costs or the need to hire help to avoid late‑filing risks and penalties. The expanded definition of who “participates” (including coordination with subsidiaries or local units and pre‑endorsement activities) means more organizations may trigger reporting duties. Some details about exact forms, penalty specifics, and certain referenced reporting content are not included in the extracted text, so final operational obligations and enforcement consequences cannot be fully determined from these facts alone.