H5840

	2015 -- H 5840
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	LC002058
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	STATE OF RHODE ISLAND
	IN GENERAL ASSEMBLY
	JANUARY SESSION, A.D. 2015
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	A N A C T
	RELATING TO ELECTIONS -- RHODE ISLAND CAMPAIGN CONTRIBUTIONS AND
	EXPENDITURES REPORTING

	Introduced By: Representatives Craven, Marshall, Morin, Keable, and Tobon
	Date Introduced: March 11, 2015
	Referred To: House Judiciary
	It is enacted by the General Assembly as follows:
1	SECTION 1. Chapter 17-25 of the General Laws entitled "Rhode Island Campaign
2	Contributions and Expenditures Reporting" is hereby amended by adding thereto the following
3	section:
4	17-25-5.2. Segregation of campaign funds. – (a) All campaign funds received and
5	expended by a candidate, office holder, or treasurer, subject to the provisions of this chapter, shall
6	be segregated from all other accounts of the candidate or office holder and shall be maintained in
7	a separate campaign account at a financial institution which has a physical branch within this
8	state. The comingling of a candidate's personal or business funds with campaign funds is
9	expressly prohibited. As used herein, the term "financial institution" includes a bank or a credit
10	union.
11	(b) Applicability to political action committees. - The provisions of this section shall
12	apply to political action committees as well as to individual candidates and office holders.
13	(c) Effective date. - The provisions of this section shall take effect on January 1, 2016.
14	SECTION 2. This act shall take effect on January 1, 2016.
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	LC002058
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	EXPLANATION
	BY THE LEGISLATIVE COUNCIL
	OF
	A N A C T
	RELATING TO ELECTIONS -- RHODE ISLAND CAMPAIGN CONTRIBUTIONS AND
	EXPENDITURES REPORTING
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1	This act would require candidates for public office and office holders to maintain
2	separate campaign accounts exclusively for campaign funds. This act would also apply to
3	political action committees.
4	This act would take effect on January 1, 2016.
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	LC002058
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