S.15

Introduced by Senator Rivers of Windsor County and Senator Doyle of Washington County

Referred to Committee on

Date:

Subject: Elections; campaign finance; party contribution limits; disclosure of independent expenditures

Statement of purpose: This bill proposes to raise limits on party contributions; to require same-day reporting of independent expenditures to the secretary of state; to require the secretary to publish independent expenditures; and to require organizations which make related expenditures to disclose their donors.

AN ACT RELATING TO LIMITATIONS ON CAMPAIGN CONTRIBUTIONS AND ACCOUNTABILITY FOR RELATED EXPENDITURES

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1. 17 V.S.A. § 2805(a) is amended to read:

§ 2805. LIMITATIONS OF CONTRIBUTIONS

(a) A candidate for state representative or local office shall not accept contributions totaling more than $200.00 from a single source*[,]* or political committee *[or]* and shall not accept contributions totaling more than $2,000.00 from a political party in any two-year general election cycle. A candidate for state senator or county office shall not accept contributions totaling more than $300.00 from a single source*[,]* or political committee *[or]* and shall not accept contributions totaling more than $3,000.00 from a political party in any two-year general election cycle. A candidate for the office of governor, lieutenant governor, secretary of state, state treasurer, auditor of accounts, or attorney general shall not accept contributions totaling more than $400.00 from a single source*[,]* or political committee *[or political party]* in any two-year general election cycle. A candidate for the office of secretary of state, state treasurer, auditor of accounts, or attorney general shall not accept contributions totaling more than $8,000.00 from a political party in any two-year general election cycle. A candidate for the office of lieutenant governor shall not accept contributions totaling more than $20,000.00 from a political party in any

two-year general election cycle. A candidate for the office of governor shall not accept contributions totaling more than $50,000.00 from a political party in any two-year general election cycle. A political committee, other than a political committee of a candidate, or a political party shall not accept contributions totaling more than $2,000.00 from a single source, political committee or political party in any two-year general election cycle.

Sec. 2. 17 V.S.A. § 2809 is amended to read:

§ 2809. ACCOUNTABILITY FOR RELATED EXPENDITURES

* * *

(f) A single source or political committee which makes a related expenditure that equals or exceeds $100.00 shall, within 24 hours of making the expenditure, report the expenditure to the secretary of state. The report shall also include the names and addresses of all sources which contribute more than $500.00 to the single source or political committee. Within 24 hours, the secretary shall post a related expenditure subject to this subsection on the secretary’s website, and place notices of the expenditure in all newspapers of general circulation in a location which has the greatest likelihood of attracting the attention of those reading the newspapers.

(g) The secretary of state may adopt rules necessary to administer the provisions of this section.