HF 3368 Summary

• Changes campaign finance reporting from annual (January 31) filings to quarterly basis with a schedule directed by the board, effective July 1, 2010.

• Requires reporting of independent expenditures exceeding $500 (filed within 48 hours) from 20 days before election through end of cycle, and expenditures exceeding $100 (filed within 24 hours) from 19 days before election through end of cycle.

• Increases contribution limits for candidates: governor/lieutenant governor to $4,000 (election year) and $1,000 (other years); attorney general to $2,000 and $400; state senator to $1,000 and $200; state representative to $1,000 and $200; and secretary of state/state auditor to $1,000 and $200.

• Increases campaign expenditure limits: governor/lieutenant governor to $4,787,600; attorney general to $798,000; secretary of state/state auditor to $399,000; state senator to $119,800; and state representative to $62,800, with 10 percent increase for first-time candidates in new territories.

• Requires campaign material disclaimers identifying the person or committee responsible for preparation and payment; restores tax checkoff designation amount from $5 to $10 per return; and restores political contribution refund program allotments for fiscal years 2010-2011.