D.__A party committee that files an election report under paragraph B or C is not required to file a quarterly report under paragraph A when the deadline for that quarterly report falls within 10 days of the filing deadline established in paragraph B or C.

E.__A party committee shall report any expenditure of $500 or more, made after the 12th day before the election and more than 48 hours before 5:00 p.m. on the day of the election, within 48 hours of that expenditure or by noon of the first business day after the expenditure, whichever is later.

Sec. 4. 21-A MRSA §1019, as amended by PL 2001, c. 465, §1, is repealed and the following enacted in its place:

§1019.__Reports of independent electioneering expenditures

Any person, party committee, political committee or political action committee that makes an independent electioneering expenditure shall file a report with the commission.__In the case of a municipal election, a copy of the same information must be filed with the municipal clerk.

For the purposes of this section, "independent electioneering expenditure" means any contribution or expenditure by a person, party committee, political committee or political action committee aggregating in excess of $100 in an election that expressly advocates the election or defeat of a clearly identified candidate, other than by contribution to a candidate or a candidate's authorized political committee.

1.__Filing requirements.__Reports required by this section must be filed according to the following.

A.__In races involving only privately financed candidates, reports must be filed in accordance with the schedule set forth in section 1059, subsection 2.

B.__In races involving a Maine Clean Election Act candidate, reports must be filed in accordance with the schedule set forth in section 1059, subsection 2 and additional reports must be filed in accordance with the following schedule: