2015 -- S 0681

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LC002140

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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 -- CAMPAIGN FINANCE

     Introduced By: Senators McCaffrey, Paiva Weed, Ruggerio, Goodwin, and Sheehan

     Date Introduced: March 12, 2015

     Referred To: Senate Judiciary

     It is enacted by the General Assembly as follows:

     SECTION 1. Chapter 17-25 of the General Laws entitled "Rhode Island Campaign

Contributions and Expenditures Reporting" is hereby amended by adding thereto the following

section:

     17-25-5.2. Separate campaign accounts required. – (a) Whenever any candidate

receives more than one thousand dollars ($1,000) in any one calendar year, he or she must

maintain a separate campaign account which shall not contain any non-campaign funds at a

financial institution which has a physical branch within this state. As used herein, the term

"financial institution" includes a bank or a credit union.

     (b) Applicability to political action committees. - The provisions of this section shall

apply to political action committees as well as to individual candidates and office holders.

     SECTION 2. Sections 17-25-7 and 17-25-27 of the General Laws in Chapter 17-25

entitled "Rhode Island Campaign Contributions and Expenditures Reporting" are hereby amended

to read as follows:

     17-25-7. Contents of reports to be filed by treasurers of candidates and committees.

-- (a) Each campaign treasurer of a candidate, each state and municipal committee of a political

party, and each political action committee shall keep accurate records and make a full report,

upon a form prescribed by the board of elections, of all contributions received and expenditures

made by it in excess of a total of one hundred dollars ($100) from any one source within a

calendar year, in furtherance of the nomination, election, or defeat of any candidate or the

approval or rejection of any question submitted to the voters, or at any financial town meeting,

financial town referendum, or other election at which amendments to a city or town charter are

proposed, during the period from the date of the last report, or in the case of the initial report,

beginning on the date of the appointment of the campaign treasurer for state and municipal

committees and political action committees and on the date a person becomes a "candidate" as

defined in § 17-25-3(2) for individual candidates. The report shall contain the name, address and

place of employment of each person or source from whom the contributions and expenditures in

excess of one hundred dollars ($100) were received or made and the amount contributed or

expended by each person or source. The report shall be filed with the board of elections on the

dates designated in § 17-25-11. The campaign treasurer of the candidate, or committee reporting,

shall certify to the correctness of each report. This subsection shall apply to any entity advocating

the approval or rejection of any question presented to voters at any financial town meeting, which

shall file reports of contributions or expenditures every seven (7) days if the total of the money so

expended exceeds one hundred dollars ($100) in a calendar year notwithstanding any other

provisions contained in this title.

      (b) Each state and municipal committee of a political party shall also file with the board

of elections, not later than March 1 of each year, an annual report setting forth in the aggregate all

contributions received and all expenditures made during the previous calendar year, whether or

not these expenditures were made, incurred, or authorized in furtherance of the election or defeat

of any candidate. The treasurer of the committee or organization reporting shall certify to the

correctness of each report.

      (c) Any report filed pursuant to the provisions of this section shall include contributions

received from any "testimonial affair", as defined in § 17-25-3, held since the date of the most

recent report filed.

     (d) No candidate may also serve as his or her own campaign treasurer.

     17-25-27. Post-audit of accounts – Publication Report audits. – -- The board may

conduct a post-audit of all accounts and transactions for any election cycle and may conduct any

other special audits and post-audits that it may deem necessary. (a) The board shall conduct

random audits of campaign finance reports filed with them. The board may conduct any other

special audits that it deems necessary. It shall promulgate rules and regulations as necessary to

administer the audits in a manner that promotes the accuracy and integrity of the campaign

finance reporting requirements.

     (b) The board shall publish a summary of the reports filed by candidates for general

office pursuant to the public financing provision of this chapter on or before April 1 of the year

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following any year in which elections are held for statewide elective office.

     SECTION 3. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO ELECTIONS -- CAMPAIGN FINANCE

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     This act would require any political candidate that receives over one thousand dollars

($1,000) in campaign contributions in one calendar year to maintain a separate financial account

for campaign funds, and shall not contain any non-campaign funds. It would also prohibit the

candidate from serving as his or her campaign treasurer. Finally, it would require the board to

conduct random audits of campaign finance reports.

     This act would take effect upon passage.

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