Act, Section 3-Q
The Electoral Trust shall establish financial reporting requirements applicable to initiative sponsors, proponents and opponents, with monetary thresholds appropriate to the affected government jurisdiction. The Electoral Trust shall make all financial reports available to the public immediately upon its receipt thereof. Failure of sponsors, proponents or opponents to comply with these reporting requirements shall be a felony punishable by not more than one year in prison or a fine not to exceed One Hundred Thousand Dollars, or both, per instance, applied to each person found guilty of the violation.
- Login to post comments
Parrish Report
The Electoral Trust will publish all financial disclosures on the Internet web site (or functional equivalent) it maintains for each initiative. The Electoral Trust will require all those contributing sums above a certain threshold to be identified on the web site. Failure to comply with the contribution and disclosure sections of the law is a felony punishable by prison time and a substantial fine. Abuses will occur but may be expected to decline dramatically once some law-breakers, such as, for instance, corporate executives found guilty of conspiring to illegally contribute funds from a corporation's treasury, have been jailed.
Feedback from the 2002 Democracy Symposium
This suggestion was adopted. The Electoral Trust shall determine the monetary thresholds for financial disclosure.