Section Two: Financial Reforms

1. Follow the federal model and prohibit campaign contribution by corporations.
2. Follow the federal model and limit the dollar amount of campaign contributions which may be made by PACs and individuals.
3. Prohibit the solicitation by any candidate or elected officer of contributions to any PAC or PIC except that individual=s personal campaign.
4. Prohibit the contribution of money from a candidate=s or elected officer=s personal campaign account to the campaign of any other candidate.
5. Require disclosure of all campaign contributions within 5 days of their receipt. Current law leaves convenient and lengthy windows of nondisclosure prior to and after elections, and there is virtually no limit on amendments after the fact.
6. Require that all post-election amendments to financial disclosure reports state the reasons for the amendment and why timely compliance was not possible. Put enforcement teeth behind this and penalize individuals or PACs or PICs where it appears that a failure to timely or accurately file was a deliberate attempt to conceal information.
7. Prohibit the use of campaign donations for personal as opposed to campaign expenses.
8. Require that all campaign account balances be paid into the Uniform School Fund if a candidate=s or elected officer=s campaign account has a positive balance after (a) losing an election, or (b) leaving office, and the individual does not run for office within two years.
9. Impose a one-year cooling off period between the time a legislator can leave office and become a paid lobbyist.