Political Reform Act of 1974: public campaign financing.

Existing law, the Political Reform Act of 1974, prohibits a public officer from expending, and a candidate from accepting, public moneys for the purpose of seeking elective office. This bill would permit a public officer or candidate to expend or accept public moneys for the purpose of seeking elective office if the state or a local governmental entity established a dedicated fund for this purpose, as specified. The bill would prohibit the public moneys for this dedicated fund from being taken from public moneys that are earmarked for education, transportation, or public safety. This restriction would not apply to charter cities. 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 to the voters for approval at the November 5, 2024, general statewide election, as specified.