RELATING TO PUBLIC FINANCING FOR CANDIDATES TO ELECTED OFFICE.
What changed between versions
Program start date changed from 2026 to 2028 general election year
New requirement for candidates to collect minimum qualifying contributions (ranging from 63 to 6,250 depending on office) before receiving public funding
Establishes specific public funding amounts for each office (e.g., Governor receives up to $2.5 million, State Representative up to $50,000)
Creates new definitions for 'seed money' (up to $5,000 for viability testing) and 'qualifying contribution' (exactly $5 from registered voters)
Certified candidates cannot accept private contributions or loans during their campaign and must use only public funds for campaign expenses
Mandates electronic reporting of all campaign finances and requires candidates to return unspent public funds within 30 days after elections
Penalties include fines of three times received public funding for violations and mandatory repayment of excess expenditures
Effective date changed to April 23, 2057 (likely placeholder date that should be corrected to a reasonable implementation date)
