MO SB298

Establishes a "Fair Elections Trust Fund" to provide public financing for candidates for state representative, state senator, and statewide offices through a qualified contribution system and tax return checkoff option

Candidates must collect a set number of $5 qualifying contributions from registered voters in their district or state to qualify for public funding; state representatives need 250, state senators need 500, and statewide candidates need 250 in six or more congressional districts

Provides participating candidates with a "fair election debit card" funded from the public trust fund in amounts based on previous election spending averages; gubernatorial primary candidates receive $500,000 and general election candidates receive $1,000,000

Limits political party committee contributions to $5,000 per year in aggregate and caps participating candidate acceptance of party contributions at 5% of their public financing amount

Includes matching fund provisions when nonparticipating candidates or independent expenditures exceed specified thresholds, with civil and criminal penalties for violations; bill requires voter approval and applies to elections after November 2014