Proposed by initiative petition to be voted on at the General Election, November 7, 2006.
REVISES CAMPAIGN FINANCE LAWS: LIMITS OR PROHIBITS CONTRIBUTIONS AND EXPENDITURES; ADDS DISCLOSURE, NEW REPORTING REQUIREMENTS
RESULT OF "YES" VOTE: "Yes" vote limits or prohibits certain contributions and expenditures to candidates, political committees, political parties; limits candidate's spending to own candidacy; adds disclosure, reporting requirements.
RESULT OF "NO" VOTE: "No" vote retains current law, which does not limit contributors, contributions to, or expenditures for state or local public office candidates; maintains existing reporting requirements.
SUMMARY: Current law requires reporting of certain contributions and expenditures, but does not limit contributors, contributions to, or expenditures for public office candidates. Measure limits individual contributions to candidates, political committees, "small donor committees," political parties, with annual cap for all contributions; limits political committee, political party contributions to candidates and each other; allows unlimited contributions by "small donor committees" (accepting only individual contributions not exceeding $50 annually). Prohibits corporate, union, organizational contributions and expenditures except through political committees funded solely by individuals. Prohibits candidate loans. Limits: candidate's spending to own candidacy; "independent expenditures" (defined) by individuals, political entities, organizations. Establishes: new disclosure, reporting requirements; procedure for increasing measure's limits to comply with state and federal constitutions. Unspent candidate funds revert to state. Other provisions.
ESTIMATE OF FINANCIAL IMPACT: The measure will require $1,012,020 in state expenditures in the first year, and less than $100,000 of state expenditures each year thereafter.
This measure has no financial effect on state government revenues.
This measure has no direct financial effect on local government revenue or expenditures.