KEY PROVISIONS OF INITIATIVE

Here are some of the major provisions of the campaign finance reform initiative that has qualified to appear on the June, 1988, ballot:

Contribution limits (applicable to all candidates):

Maximum allowable contributions are $1,000 per legislative candidate per election from individuals and $2,500 per candidate per election from organizations.

Transfers of contributions between legislative candidates are prohibited.

Non-election-year contributions to legislative candidates are prohibited.

Spending limits (applicable only to candidates who accept public financing):

In a primary election, spending is limited to $150,000 for Assembly candidates and $250,000 for Senate candidates. In a general election, Assembly candidates may spend $225,000 and Senate candidates are limited to spending $350,000.

Spending limits apply only if the candidate accepts matching public funds that come from a state income tax checkoff system of up to $3 per individual and $6 per couple.

Public financing:

To qualify for public matching funds, Assembly candidates must raise $20,000 and Senate candidates $30,000 from private sources in contributions of less than $1,000.

The first $250 of any contribution is matched on a 3-1 basis with $750 in public money. If the contribution comes from an individual who is a registered voter within the candidate’s district, the matching ratio increases to 5 to 1.

The maximum amount of public funds that a candidate may receive in any election is half the spending limit for that election.