HB0470 Bray, Joan McLuckie, Steve et al

P R E F I L E D

HB 470 -- Public Financing of Election Campaigns

Co-Sponsors: Bray, McLuckie

This bill provides for the public funding of campaigns for state representative, state senator and all statewide offices. Candidates must meet certain qualifying conditions. The moneys necessary to provide the public funds will be raised through a 0.6% surcharge on all individual income tax liabilities, effective January 1, 1996. The moneys will be deposited in the Democracy Trust Fund which is established in the bill and will be administered by the State Treasurer. Qualified candidates will receive a "fair election credit card" issued by the State

Treasurer with which they may draw money from an ethics commission account. Candidates will file sworn statements with the Secretary of State at the time of filing and with the Ethics Commission stating that they will comply with all the provisions of the public funding law.

Candidates will be required to collect qualifying contributions to be eligible for public funds. A qualifying contribution is a gift of $5 by a registered voter given between the first day of January of an election year and the start of the primary election campaign period. Political party candidates for state representative are required to collect 200 qualifying contributions, candidates for state senator are required to collect 500 qualifying contributions, candidates for statewide office other than the office of Governor are required to collect 1,000 qualifying contributions, and candidates for Governor are required to collect 2,000 qualifying contributions. Independent candidates are required to collect 150% of the number of qualifying contributions required for a candidate running in a party primary for a particular office.

The public funding amounts for the primary and for the general election for candidates for office are $10,000 for state representative, $50,000 for state senator, $500,000 for statewide office other than Governor, and $1,000,000 for Governor.

The bill further provides for partial funding, campaigns conducted without public funds, penalties for non-compliance, reporting, and disclosure of contributor information.