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2001 SESSION

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018626522
SENATE BILL NO. 975 Offered January 10, 2001 Prefiled January 9, 2001 A BILL to amend the Code of Virginia by adding in Chapter 9 of Title 24.2 an article numbered 6, consisting of a section numbered 24.2-931, relating to the Campaign Finance Disclosure Act and audits of certain campaign reports and records. ---------- Patrons-- Rerras; Delegates: Drake and Jones, S.C. ---------- Referred to Committee on Privileges and Elections ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Chapter 9 of Title 24.2 an article numbered 6, consisting of a section numbered 24.2-931, as follows:

Article 6. Audits of Campaign Finance Reports.

§ 24.2-931. Audits of campaign finance reports and records in campaigns for Governor, Lieutenant Governor, Attorney General, and the General Assembly.

A. In addition to its duties under § 24.2-928, the State Board of Elections shall have the authority to conduct audits of the reports and records of the campaign committees for candidates for Governor, Lieutenant Governor, Attorney General and the General Assembly. Its authority shall include the authority to compel the production of monthly bank statements for campaign depositories and of receipts and records for any expenditure of more than $100. The Board shall conduct audits of the campaign committees of candidates for Governor, Lieutenant Governor, and Attorney General promptly following the election for the office. The Board shall conduct audits of no more than four percent of the campaign committees for candidates for the General Assembly, selected on a random basis, promptly following the election for the Senate or House of Delegates. No audit shall be conducted of a campaign committee reporting less than $25,000 in expenditures in a campaign.

B. In the performance of its duties under subsection A, the State Board may employ the services of certified public accountants to the extent that appropriated funds are available to the State Board to pay the cost of such services.

C. The Board shall report the results of the audits to the Governor and the General Assembly during February of each year following the election year for the office to which the audit pertains.