In 1972 voters passed Initiative 276, which required the disclosure of campaign finances, lobbyist activities, financial affairs of elected?officers and candidates, and access to public records.? The initiative created the Public Disclosure Commission (PDC), a five-member, bipartisan citizen commission, to enforce the provisions of the campaign finance disclosure law.? The PDC has the authority to develop procedures, adopt rules, investigate complaints, and enforce the laws relating to campaign disclosure and contributions, including the imposing of civil penalties.
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Subsequently in 1992, the Fair Campaign Practices Act was enacted following passage of Initiative 134.? Initiative 134 imposed campaign contribution limits on elections for statewide and legislative office, further regulated independent expenditures, restricted the use of public funds for political purposes, and required public officials to report gifts.
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Candidates and political committees are required to file certain information with the PDC, including all contributions received and expenditures made.? Contribution and expenditures reports must include certain information, including:? 1) the funds on hand at the beginning of a reporting period; 2) identifying information for each person who contributed funds and the money value of the contribution; 3) loans, promissory notes, or security instrument to be used by the candidate or political committee; and 4) identifying information of each person to whom an expenditure of a certain amount was made.
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The treasurer of a candidate or political committee must file the contribution and expenditure reports at specific intervals, including on the twenty-first day and seventh day immediately preceding the date on which the election is held.? These reports must include all contributions received and expenditures made as of the end of one business day before the date of the report.
The intervals for filing contribution and expenditure reports are amended.? The treasurer must file the reports on the twentieth day and sixth day immediately preceding the date on which the election is held, rather than on the twenty-first and seventh days, respectively.? The reports must include all contributions received and expenditures made as of the end of two business days before the date of the report, rather than as of the end of one business day before the date of the report.