HB5531 Summary: Small Donor Democracy Matching System for Fair Elections Act

• Creates a public campaign financing program providing matching funds to candidates for Governor, Attorney General, State Comptroller, State Treasurer, Secretary of State, State Senator, and State Representative who participate voluntarily.

• Establishes the Small Donor Democracy Matching Fund in the State Treasury, funded by annual state appropriations of $1 per resident or one-twentieth of 1% of annual state budget (whichever is greater), capped at $50,000,000 per election cycle.

• Participating candidates receive 6 times the amount of qualified contributions they collect ($25-$150 per donor), subject to office-specific caps ranging from $150,000 for State Representatives to $5,000,000 for Governors.

• Imposes strict contribution limits of $500 per donor (increased to $2,500 if opponent exceeds self-funding thresholds), prohibits contributions from lobbyists and state contractors, and limits candidates' own personal funding to 10 times the maximum contribution limit.

• Creates a 5-member Campaign Finance Board within the State Board of Elections to administer the program, set rules, process applications, distribute funds, and enforce compliance with penalties up to twice the value of unlawfully accepted funds.