Relating to campaign finance; and declaring an emergency.
Catchline/Summary:
Defines "petition committee" as chief petitioner or treasurer of initiative, referendum or recall petition who files statement of organization with Secretary of State. Defines "petition committee" as chief petitioner or treasurer of initiative, referendum or recall petition who files statement of organization with Secretary of State.
Requires treasurer of petition committee to establish single exclusive petition account in financial institution. Directs petition committee to make all expenditures, with specified exceptions, through petition account. Directs treasurer to deposit all contributions in petition account. Prohibits deposit of other moneys in petition account. Requires chief petitioner or treasurer to maintain petition account in name of petition committee. Requires treasurer to specify location and name of petition account in statement of organization. Directs existing petition committee to establish petition account and amend statement of organization not later than January 1, 2010.
Allows treasurer of petition committee who expects neither contributions nor expenditures to be received or made by chief petitioner or treasurer to exceed $2,000 to file certificate with Secretary of State.
Limits use of contributions received by political committee that is not principal campaign committee and by petition committee.
Modifies certain procedures, including notice procedures, related to filing statements of organization. Deletes reporting requirement for expenditures relating to use of agents to obtain signatures on initiative, referendum or recall petition.
Changes maximum penalty for failure to file statement or failure to include certain information in statement from $10,000 to 10 percent of total amount of contribution or expenditure required to be included in statement.
Becomes operative on January 1, 2010.
Declares emergency, effective on passage.
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SB 783
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