Bill > H5962

This bill makes several key changes to Rhode Island's campaign finance laws: 1. It defines "accounts payable" as credit extended to a candidate or political committee in the ordinary course of business, which would not be considered a campaign contribution. 2. It raises the minimum aggregate reporting amount for contributions and expenditures from $100 to $200 per year, and exempts candidates from the minimum aggregate reporting requirement. 3. It increases the contribution limit for individuals and political action committees from $1,000 to $2,000 per year. 4. Starting in the 2026 election cycle, the bill provides for public financing of primary elections, with reimbursement to the primary winner for campaign expenditures. However, candidates with outstanding fines owed to the board of elections would be ineligible for public financing. 5. The bill defines "fair market value" and "usual and normal charge for goods and services" for the purposes of valuing donated campaign contributions. This act would take effect on January 1, 2024.

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