Bill No.: HB0009                  Drafter:  LGC

LSO No.:  08LSO-0016              Effective Date:  1/1/2009

Enrolled Act No.:  42

Chapter No.:

Prime Sponsor:     Joint Corporations, Elections and Political Subdivisions Interim Committee

Catch Title:       Campaign finance reporting.

Subject:            Changes restrictions on campaign contributions and report filing requirements.

Summary/Major Elements:

· The act increases the amount an individual may contribute to a political candidate from one thousand dollars to three thousand five hundred dollars per election. The act specifies that contributions donated to political action committees which are designated by the donor to be used for a particular candidate count toward the individual's contribution limitation.

· The act removes the limit on total political contributions by an individual.

· The act limits the amount a political action committee may contribute to a candidate during a two year period to $2,900 per election for local candidates and $5,800 for candidates for statewide office.

· The act requires candidates to report by the close of the next business any additional receipts of $1,500 or more after they have filed their report.

· The act requires political action committees and candidate's campaign committees to file statements of receipts and expenditures after primary, special and general elections.

· The act removes a requirement that that contributors annually renew their consent to automatic contributions.

Comments:  This act was vetoed by the Governor on March 17, 2008 because of reservations regarding the increase in the cap on  individual contributions to candidates.