Legislative Campaigns. Spending And Contribution Limits. Partial State Funding From Individual Taxpayer Checkoffs.

LEGISLATIVE CAMPAIGNS. SPENDING AND CONTRIBUTION LIMITS. PARTIAL STATE FUNDING FROM INDIVIDUAL TAXPAYER CHECKOFFS. INITIATIVE STATUTE. Establishes specified limits on contributions and loans that can be made or accepted for campaigns for state legislative offices. Establishes Campaign Reform Fund to which individual taxpayers may designate for deposit up to $3 annually from income taxes paid. Provides legislative candidates who receive specified threshold contributions from other sources, and meet additional requirements, may receive with limitation matching campaign funds from Campaign Reform Fund. Establishes specific campaign expenditure limits for candidates accepting funds from Campaign Reform Fund. Provides civil and criminal penalties for violations. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: State income tax revenues would be reduced by about $11.6 million in 1986-87, and by a net of about $10 million in each subsequent fiscal year. The checkoff revenues would be transferred to the Campaign Reform Fund. An unknown portion of these funds may not be spent and will revert to the General Fund after each subsequent general election. State administrative costs would increase by about $500,000 in 1986-87, and grow to about $800,000 by 1988-89. The Franchise Tax Board would incur a one-time cost of about $1.6 million in 1986-87 to print a second set of 1986 income tax forms to include the new checkoff provision