To repeal section 130.046, RSMo Supp. 1995, relating to campaign finance disclosure, and to enact in lieu thereof two new sections relating to the same subject, with an emergency clause.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF MISSOURI,

AS FOLLOWS:

Section A. Section 130.046, RSMo Supp. 1995, is repealed and two new sections enacted in lieu thereof, to be known as sections 130.039 and 130.046, to read as follows:

130.039. 1. Any candidate for the office of governor, statewide elected office, the senate or the house of representatives shall file a disclosure report as required in subdivision (5) of subsection 1 of section 130.046, and shall have no more than the following amounts in his or her campaign fund:

(1) Three hundred thousand dollars for the office of governor;

(2) One hundred thousand dollars for each candidate for state-wide elected office;

(3) Fifty thousand dollars for each candidate for the senate; and

(4) Twenty thousand dollars for each candidate for the house of representatives.

2. Any amounts in a candidate's campaign fund in excess of the amounts in subsection 1 of this section shall, within sixty days, be:

(1) Donated to any organization exempt under section 501(c)(3) of the Internal Revenue Code; or

(2) Returned to those persons reported as contributors to the candidate's campaign.

130.046. 1. The disclosure reports required by section 130.041, for committees, including political party committees, but other than continuing committees, shall be filed at the following times and for the following periods:

(1) Not later than the fortieth day before an election for the period closing on the forty-fifth day before election; and

(2) Not later than the seventh day before an election for the period closing on the twelfth day before election; and

(3) Not later than the thirtieth day after an election for a period closing on the twenty-fifth day after the election; except that, a successful candidate who takes office prior to the twenty-fifth day after election shall have complied with the reporting requirement of this subdivision if a disclosure report is filed by such candidate and any candidate committee under the candidate's control before such candidate takes office, and such report shall be for the period closing on the day before taking office; [and]

(4) Not later than the twentieth day of April for the period ending the thirty-first of March for a [candidate who has filed or a] committee which has been formed after the thirty-first day of December of the previous year[.]; and

(5) Not later than the last day of the month of the regular session for the period ending the last day of the regular session for a candidate who has filed for office.

2. In the case of a ballot measure to be qualified to be on the ballot by initiative petition or referendum petition, or a recall petition seeking to remove an incumbent from office, disclosure reports relating to the time for filing such petitions shall be made as follows:

(1) In addition to the disclosure reports required to be filed before and after elections in accordance with subdivisions (1), (2), (3) and (4) of subsection 1 of this section, the treasurer of a committee, other than a continuing committee, supporting or opposing a petition effort to qualify a measure to appear on the ballot or to remove an incumbent from office shall file an initial disclosure report fifteen days after the committee begins the process of raising or spending money. After such initial report, the committee shall file quarterly disclosure reports until such time as the reports required under subdivisions (1), (2), (3) and (4) of subsection 1 of this section are to be filed. In addition the committee shall file a second disclosure report no later than the fifteenth day after the deadline date for submitting such petitions. The period covered in the initial report shall begin on the day the committee first accepted contributions or made expenditures to support or oppose the petition effort for qualification of the measure and shall close on the fifth day prior to the date of the report;

(2) If the measure has qualified to be on the ballot in an election, and if a committee subject to the requirements of subdivision (1) of this subsection is also required to file a preelection disclosure report for that election any time within thirty days after the date on which disclosure reports are required to be filed in accordance with subdivision (1) of this subsection, the treasurer of such committee shall not be required to file the report required by subdivision (1) of this subsection, but shall include in the committee's preelection report all information which would otherwise have been required by subdivision (1) of this subsection.

3. The treasurer of a continuing committee shall file quarterly disclosure reports pursuant to this subsection, except for any calendar quarter in which the contributions received by the continuing committee or the expenditures or contributions made by the continuing committee do not exceed one thousand dollars. The reporting dates and periods covered for such quarterly reports shall not be later than the fifteenth day of January, April, July and October for periods closing on the thirty-first day of December, the thirty-first day of March, the thirtieth day of June and the thirtieth day of September. Each report by such continuing committees shall be cumulative from the date of the last report. In the case of the continuing committee's first report, the report shall be cumulative from the date of the continuing committee's organization.

4. The reports required to be filed not later than the seventh day before an election and not later than the thirtieth day after an election and any subsequently required reports shall be cumulative so as to reflect the total receipts and disbursements of the reporting committee for the entire election campaign in question. The period covered by each disclosure report shall begin on the day after the closing date of the most recent disclosure report filed and end on the closing date for the period covered. If the committee has not previously filed a disclosure report, the period covered begins on the date the committee was formed, except that in the case of a candidate committee, the period covered begins on the date the candidate became a candidate according to the definition of the term "candidate" in section 130.011.

5. Other provisions of this chapter to the contrary:

(1) Certain disclosure reports pertaining to any candidate who receives nomination in a primary election and thereby seeks election in the immediately succeeding general election shall not be required in the following cases:

(a) If there are less than fifty days between a primary election and the immediately succeeding general election, the disclosure report required to be filed not later than the fortieth day before the general election need not be filed, provided that any other report required to be filed prior to the primary election and all other reports required to be filed not later than the seventh day before the general election are filed no later than the final dates for filing such reports;

(b) If there are less than eighty-five days between a primary election and the immediately succeeding general election, the disclosure report required to be filed not later than the thirtieth day after the primary election need not be filed, provided that any report required to be filed prior to the primary election and any other report required to be filed prior to the general election are filed no later than the final dates for filing such reports; and

(2) No disclosure report need be filed for any reporting period if during that reporting period the committee, including a candidate committee, has neither received contributions aggregating more than one thousand dollars nor made expenditures aggregating more than one thousand dollars and has not received contributions aggregating more than two hundred fifty dollars from any single contributor and if the committee's treasurer files under oath a statement with the appropriate officer that neither the aggregate of contributions received by the committee during that reporting period nor the aggregate expenditures made by the committee during that reporting period exceeded one thousand dollars and the committee did not receive contributions from any one person aggregating more than two hundred fifty dollars during that reporting period. Any contributions received or expenditures made which are not reported because this statement is filed in lieu of a disclosure report must be included in the next disclosure report filed by the committee. This statement shall not be filed in lieu of two or more consecutive disclosure reports if either the contributions received or expenditures made in the aggregate during those reporting periods exceed one thousand dollars and shall not be filed in lieu of the report required to be filed not later than the thirtieth day after an election if that report would show a deficit of more than one thousand dollars.

6. (1) If the disclosure report required to be filed by a committee not later than the thirtieth day after an election shows a deficit of unpaid loans and other outstanding obligations in excess of five thousand dollars, semiannual supplemental disclosure reports shall be filed with the appropriate officer for each succeeding semiannual period until the deficit is reported in a disclosure report as being reduced to five thousand dollars or less, except that a supplemental semiannual report shall not be required for any semiannual period which includes the closing date for the reporting period covered in any regular disclosure report which the committee is required to file in connection with an election. The reporting dates and periods covered for semiannual reports shall be not later than the fifteenth day of January and July for periods closing on the thirty-first day of December and the thirtieth day of June.

(2) Committees required to file reports under subsection 2 or 3 of this section, which are not otherwise required to file disclosure reports for an election, shall file semiannual reports as required by this subsection if their last required disclosure report shows a total of unpaid loans and other outstanding obligations in excess of five thousand dollars.

7. (1) If a committee, including a candidate committee, during any calendar year, receives contributions or makes expenditures aggregating more than one thousand dollars or receives an aggregate of more than two hundred fifty dollars from any one person, an additional disclosure report shall be filed not later than the fifteenth day of January for the period closing on the preceding thirty-first day of December, except that such disclosure report shall not be required if, within sixty days prior to or following the thirty-first day of December, the committee is required to file any other disclosure report.

(2) Committees required to file reports under subsection 2 of this section, which are not otherwise required to file reports for an election, shall file annual supplemental reports if, after filing the report required by subsection 2 of this section, the committee has additional financial activities during a calendar year in excess of the dollar amounts established by this subsection.

8. In the case of a committee which disbands and is required to file a termination statement under the provisions of section 130.021 with the appropriate officer not later than the tenth day after the committee was dissolved, the committee treasurer shall attach to the termination statement a complete disclosure report for the period closing on the date of dissolution. A committee shall not utilize the provisions of subsection 8 of section 130.021 or the provisions of this subsection to circumvent or otherwise avoid the reporting requirements of subsection 6 or 7 of this section.

9. Disclosure reports shall be filed with the appropriate officer not later than 5:00 p.m. prevailing local time of the day designated for the filing of the report, and a report postmarked not later than midnight of the day previous to the day designated for filing the report shall be deemed to have been filed in a timely manner. The appropriate officer may establish a policy whereby disclosure reports may be filed by facsimile transmission.

Section B. Because immediate action is necessary to ensure a fair election process, this act is deemed necessary for the immediate preservation of the public health, welfare, peace and safety, and is hereby declared to be an emergency act within the meaning of the constitution, and this act shall be in full force and effect upon its passage and approval.