HB 398 — AN ACT relating to public financing of political campaigns and making an appropriation therefor. Amend KRS 121.015 to define several terms; create new sections of KRS Chapter 121 to establish the campaign finance credit fund; give the power to appropriate money from the fund to the Registry of Election Finance; identify sources of revenue for the fund; establish the campaign finance credit program to give registered voters two campaign finance credits valued at $50 each to give to the candidate of their choice for statewide constitutional office and the General Assembly; establish the format of and information to be included on the campaign finance credits; determine how and to whom a voter can assign campaign finance credits; ensure confidentiality regarding the identity of voters who receive or are assigned campaign finance credits; restrict assignment of campaign finance credits to candidates certified by the registry as participating candidates and establish measures for assignment of campaign finance credits; indicate that a campaign finance credit expires if the holder is not a registered voter and resident of Kentucky and specify risks assumed by the voter; indicate that only candidates who have filed with the registry can receive campaign finance credits; create a new section of KRS Chapter 121 to require candidates to be certified as participating candidates by the registry to establish eligibility requirements; indicate that no candidate is eligible for campaign finance credits if he or she has spent funds other than those raised from qualified contributions; indicate that a candidate loses status as a participating candidate if he or she publicly withdraws from the campaign, abandons the race, or the registry finds violations of election laws, including the campaign finance credit program laws; indicate that the registry shall maintain a list of candidates and make it available to the public on the registry Web site or in a publication with statewide distribution; indicate that participating candidates and their registered representatives may receive campaign finance credits, and that registered representatives must be volunteers; indicate that the treasurer of a candidate committee shall keep copies of all campaign finance credits received; indicate that the registry shall redeem a campaign finance credit only after verifying the assignment by ensuring it was assigned to a participating candidate; provide that the registry shall redeem each campaign finance credit within three business days of verification; establish limits for total funds that can be distributed from the campaign finance credit fund; establish dollar limits for total amount of campaign finance credit funds that can be redeemed by all candidates; indicate that campaign finance credits may only be used for campaign costs or debts; indicate that participating candidates who withdraw, die, become ineligible, lose participating candidate status, are defeated in a primary, special election, or regular election or win a regular election shall restore to the registry unspent campaign finance credits; APPROPRIATION.

Last action February 16, 2017 — To Elections, Const. Amendments & Intergovernmental Affairs (H)