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2001 SESSION

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HB 2324 Campaign Finance Disclosure Act; review of reports.

Introduced by: S. Chris Jones | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Campaign Finance Disclosure Act, record retention requirements and reviews of campaign finance disclosure reports. Incorporates recommendations by the joint subcommittee studying campaign finance reform pursuant to HJR 213 and SJR 80 (2000). The changes include: (i) the requirement that the State Board of Elections review the campaign finance reports of candidates for Governor, Lieutenant Governor, Attorney General and 10 percent of the candidates for the General Assembly selected at random; (ii) provision that the review shall be for the purposes of (a) reconciling the balance in the campaign depository with the amounts reported in the candidate’s reports of receipts and expenditures and (b) reviewing the reports for mathematical accuracy and facial completeness including the reporting of specific information required by law; (iii) the requirement that the Board meet publicly to select on a random basis by a drawing the General Assembly candidate campaigns to review; (iv) provision to exempt any campaign committee from review if it has received less than $25,000 in contributions; and (v) the requirement that the campaign treasurer retain, and provide on request by the Board, the bank statements and copies of checks issued on campaign depositories and receipts for campaign fund expenditures greater than $500. The bill takes effect January 1, 2002.


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