Restrict use of crowdfunding money for other purposes

Summary

The bill forces online crowdfunding sites to include rules that prohibit organizers from using donated funds for purposes other than those advertised, for violence, or for illegal activities. If a campaign raises more than needed, the excess must be converted to cash and returned to donors proportionally. Platforms that fail to enforce these rules face fines, civil action, and reporting requirements.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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