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S.69

Introduced by   Senator Shepard of Bennington District and Senator Canns of Caledonia District

Referred to Committee on

Date:

Subject:  Elections; campaign finance; Vermont campaign finance fund; contributions  

Statement of purpose:  This bill proposes to eliminate contributions to the Vermont campaign fund from:  (1) penalties and fines levied for violations of campaign finance law; (2) annual reporting fees from domestic and foreign corporations; (3) lobbying expenditure taxes; and (4) general assembly appropriations.

AN ACT RELATING TO ELIMINATING CERTAIN CONTRIBUTIONS TO THE VERMONT CAMPAIGN FINANCE FUND

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

Sec. 1.  17 V.S.A. § 2856 is amended to read:

§ 2856.  VERMONT CAMPAIGN FUND

(a)  A Vermont campaign fund is created for distribution of Vermont campaign finance grants to candidates for the offices of governor and lieutenant governor.  The fund shall be administered by the state treasurer, and payments shall be made under warrants issued by the secretary of state.  The costs incurred by the state treasurer and the secretary of state shall be reimbursed from this fund and paid by the state treasurer.

(b)  The fund shall consist of revenues from the following sources:

(1)  Any amounts required to be deposited in the fund under section 2853 of this title.

(2)  All penalties and fines levied for violations of this chapter.

(3)  Forty percent of the amounts paid as annual report fees by domestic corporations under subdivision 1.22(a)(17) of Title 11A and 33 percent of the amounts paid as annual report fees by foreign corporations under subdivision 1.22(a)(16) of Title 11A.

(4)  All amounts collected from the tax on lobbying expenditures imposed under 2 V.S.A. § 264a.

(5)  All amounts collected under section 5862c of Title 32, the Vermont campaign fund add-on.

(6)(3)  Any gifts received by the fund.

(7)  Any amounts appropriated to the Vermont campaign fund by act of the general assembly.

(c)  All principal and interest remaining in the fund at the close of any fiscal year shall not revert but shall remain in the fund for use in succeeding fiscal years.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us