SSB 3065 – Campaign Finance
COMMITTEE ACTION:
SSB 3065 relates to campaign finance by (1) requiring electronic filing of certain statements and reports, and (2) raising the minimum dollar amounts that trigger certain regulations. Beginning January 1, 2015, certain candidate and political committees will need to file all statements and reports with the Iowa Ethics & Campaign Disclosure Board in an electronic format by 4:30 p.m. of the day the filing is due.
The minimum dollar amounts for contributions that trigger certain regulations are raised. A person receiving a contribution is required to keep the name and address of each person making a contribution in excess of $25. Current law limits these requirements to contributions in excess of $10.
The bill also changes the definition of “candidate committee,” “county statutory political committee” and “political committee” by raising the minimum qualifying amounts of contributions, expenditures or indebtedness to amounts in excess of $1,000 (current law is in excess of $750). Current law provides that certain permanent organizations can make a one-time contribution to one candidate for office in excess of $750. The bill changes that amount to $1,000.
Current law further provides that an independent expenditure means one or more expenditures in excess of $750 in the aggregate for a communication expressly advocating the nomination, election or defeat of a clearly identified candidate; or the passage or defeat of a ballot issue that is made without the prior approval or coordination with a candidate, candidate’s committee or a ballot issue committee. The bill, however, provides that an independent expenditure requires one or more of such expenditures in excess of $1,000 in the aggregate. [2/5: short form (Sodders, McCoy, Chapman excused]