September Primary And Campaign Finance Reform.

SEPTEMBER PRIMARY AND CAMPAIGN FINANCE REFORM. INITIATIVE STATUTE. Establishes the first Tuesday in September as a statewide, nonpresidential primary election date. Repeals most campaign finance laws. Limits contributions to statewide candidates to $10,000 per person, and state legislative candidates to $5,000 per person, in each general, primary or special election. Exempts committees of political parties from campaign contribution limits. Adjusts the maximum contribution limits biennially, beginning in the year 2003 to reflect changes in the Consumer Price Index. Requires candidates to file an online report, within 24 hours of receipt, of every contribution of $5,000 or more. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This measure could have significant fiscal effect on state government. However, the net fiscal effect of this new initiative is unknown at this time because it depends upon (1) whether the courts uphold Proposition 208 and allow it to go into effect before this new initiative would go before the voters, (2) whether the voters enact Proposition 25 on the March 2000 ballot, and (3) whether the provisions in this measure pertaining to primary election dates are interpreted to change the date such elections are held