Political Contributions and Expenditures. Restrictions on Corporations and Unions. Initiative Statute.

Prohibits corporations and labor organizations from making contributions or expenditures from general treasury funds for candidate elections or political conventions, but permits them to solicit voluntary employee or stockholder donations and make campaign contributions, expenditures from separate segregated political action committee funds. Candidates and political committees prohibited from receiving contributions prohibited by this measure. Establishes notice requirements and limits on campaign solicitations by corporations and labor organizations; prohibits coercive tactics. Expresses intent that California Fair Political Practices Commission and courts consider similar federal laws in interpreting these provisions. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Probably minor annual increase in state elections-related enforcement costs. (SA2005RF0140.