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1997 SESSION

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HB 2805 General Assembly Campaign Finance Reform Act.

Introduced by: Phillip A. Hamilton | all patrons    ...    notes | add to my profiles

SUMMARY:

General Assembly Campaign Finance Reform Act. Establishes a fund to be financed by appropriations of public revenues for campaigns for the General Assembly. Candidates who seek and accept public funds must pledge to abide by contribution and expenditure limits set out in the statute. The expenditure limits are $150,000 for a Senate election year and $90,000 for a House of Delegates election year. Public funds would be available on a matching basis for up to one-half of the applicable expenditure limit. The contribution limit is $2,500 per contributor for candidates who accept public funds and agree to the stated expenditure limits. The contribution limit is $1,000 for candidates who decline public funding and do not agree to the stated expenditure limits. Violators are subject to civil penalties.


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