Political Reform Act of 1974.

The Political Reform Act of 1974 imposes various limitations on contributions that may be made to, or accepted by, candidates for elective office and campaign committees that support or oppose candidates and ballot measures, including, among other things, limiting the maximum dollar amount of contributions that may be accepted by candidates for elective state office, and limiting contributions to an officer of an agency from a party who has a financial interest in a permit or license proceeding before that agency. This bill would repeal these limitations on contributions.. The act requires candidates and committees to file specified campaign finance reports, including semiannual statements, preelection statements, supplemental preelection statements, and late contribution reports, that include prescribed campaign finance information. This bill would repeal the requirements to file certain of these reports, including the semiannual statements, the supplemental preelection statements, and the late contribution reports. This bill would require, in addition to filing preelection statements, that a candidate or committee who makes or receives a contribution of $200 or more report that contribution to specified filing officers within 24 hours of receiving the contribution. The bill would require a candidate or committee making the contribution to report his, her, or its full name and address, the full name and address of the recipient, the office sought by the candidate or the ballot measure number, as appropriate, and the date and the amount of the contribution. The bill would require the recipient of the contribution to report his, her, or its full name and address, the date and the amount of the contribution, whether the contribution is in the form of a loan, and the full name of the contributor, and his or her street address, occupation, and employer or the name of the business, if self-employed. The bill would require a candidate or committee that makes an expenditure of $200 or more to report the expenditure to specified filing officers within 24 hours. The bill would require the candidate or committee making the expenditure to report his, her, or its full name and street address, the amount of the expenditure, the full name and street address for the person to whom the expenditure was made, and a brief description of the consideration for which the expenditure was made. The bill would require the disclosure of additional information if the expenditure is a contribution to a candidate, elected officer, or committee or an independent expenditure to support or oppose a candidate or measure. The bill would require a candidate or committee who is required to report a contribution or expenditure to the Secretary of State to file that report online or by electronic transmission only, and would also require that a copy of the report be filed with the Commission by online or electronic transmission. The act prohibits any contribution or expenditure of $100 or more from being made in cash. The act also prohibits anonymous contributions of $100 or more to a candidate, committee, or person. The act also establishes $100 as the threshold for reporting certain contributions and expenditures in certain campaign reports. This bill would increase the threshold to $200 for cash contributions and expenditures, anonymous contributions, and the reporting of the above-mentioned contributions and expenditures. The bill would also make conforming changes. By increasing the duties of local government officials, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. The Political Reform Act of 1974, an initiative measure, provides that the act may be amended by a statute that becomes effective upon approval of the voters. This bill would require the Secretary of State to submit the provisions of the bill that would amend the Political Reform Act of 1974 to the voters for approval at a statewide election, as specified.