Vote Smart's Synopsis:

Vote to concur with senate amendments and pass a bill that amends provisions regarding Rhode Island campaign contributions and expenditure reporting.

Highlights:

• Defines accounts payable to mean credit extended to a candidate or political committee for campaign expenditures, provided that the credit extended is in the ordinary course of the vendor’s business, and the terms are substantially similar, in risk and amount, to the extensions of credit to nonpolitical customers (Sec. 1).

• Defines fair market value to mean the usual and normal charge for goods and services as determined by the marketplace from which they ordinarily would have been purchased (Sec. 1).

• Requires records on contributions and expenditures in excess of a total of $200 (Sec. 1).

• Prohibits contributions, other than from a candidate and their own campaign, from exceeding $2,000 (Sec. 1).

• Requires that contributions from a candidate's dependent children must be reported if it exceeds $200 and must not exceed $2,000 (Sec. 1).

• Requires that a final report be made by candidates or committees treasurers includes the name and address of employment of each person who contributed an excess of $200 within a calendar year (Sec. 1).

• Requires candidates for primary elections qualify for public funds (Sec. 1).

• Requires primary election candidates to receive $2.00 of public funds for every $1.00 of private funds contributed (Sec. 1).

• Requires no outstanding fines owed to the board of elections in order for any candidate for general office to receive payments (Sec. 1).

• Requires that, beginning with the 2026 election cycle, public funds must be dispersed to candidates as reimbursement for primary expenditures (Sec. 1).

• Requires that, in order for a candidate to receive matching public funds for reimbursement, they must win in the primary election and satisfy the requirements of the board of elections (Sec. 1).

Full Bill Text