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Regular Session, 2010
HOUSE BILL NO. 414
BY REPRESENTATIVE LIGI
CAMPAIGN FINANCE: Authorizes the expenditure of campaign funds by electronic fund
transfer
AN ACT1
To amend and reenact R.S. 18:1491.4(D) and 1495.2(D), relative to expenditures of2
campaign funds; to provide for certain methods of expending campaign funds; and3
to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 18:1491.4(D) and 1495.2(D) are hereby amended and reenacted to6
read as follows:7
§1491.4. Campaign treasurers; campaign depositories; expenditures by check; petty8
cash fund9
* * *10
D.(1) The chairman of each political committee shall designate one or more11
national or state banks or state or federally chartered savings and loan associations12
or savings banks, or state or federally chartered credit unions, as the campaign13
depositories of the committee and may invest in a money market mutual fund and14
designate such fund as a campaign depository. The committee chairman, the15
committee campaign treasurer, and any deputy treasurers shall deposit any16
contributions received by them into an account or accounts maintained at such17
depository or depositories. No expenditure shall be made by any committee18
chairman, committee campaign treasurer, deputy treasurer, or any other person on19
behalf of the committee, except by check drawn on such account or accounts, except20 HLS 10RS-432 ENGROSSED
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as specifically provided in Paragraph (2) of this Subsection and Subsection E of this1
Section. Each check drawn on any such account shall be made payable to a specific2
person, except a check made payable to petty cash. Each check drawn on such an3
account shall indicate the objects or services for which such check is drawn and such4
check shall be maintained as part of the records required by R.S. 18:1491.5. The5
name and address of such campaign depository so designated shall be filed with the6
supervisory committee in the statement of organization required by R.S. 18:1491.1.7
If any additional depositories are designated, they shall be reported within ten days8
following such designation as required by R.S. 18:1491.1.9
(2) An expenditure may be made by a committee chairman, committee10
campaign treasurer, deputy treasurer, or other authorized person on behalf of the11
committee by electronic funds transfer provided that the transfer of funds is to a12
specific person and that records are maintained as to the objects or services for which13
such transfer of funds was made. Detailed records of each electronic fund transfer14
shall be maintained as part of the records required by R.S. 18:1491.5.15
* * *16
§1495.2. Campaign treasurers; campaign depositories; expenditures by check; petty17
cash fund18
* * *19
D.(1) The candidate shall designate one or more national or state banks or20
state or federally chartered savings and loan associations or savings banks, or state21
or federally chartered credit unions, as his campaign depositories and may invest in22
a money market mutual fund and designate such fund as a campaign depository. The23
candidate, his campaign treasurer, and any deputy treasurers shall deposit any24
contributions received by them into an account or accounts maintained at such25
depository or depositories. No expenditure shall be made by any candidate,26
campaign treasurer, deputy treasurer, or any other person on behalf of the candidate,27
except by check drawn on such account or accounts, except as specifically provided28
in Paragraph (2) of this Subsection and Subsection E of this Section. Each check29 HLS 10RS-432 ENGROSSED
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drawn on any such account shall be made payable to a specific person, except a1
check made payable to petty cash. Each check drawn on such an account shall2
indicate the objects or services for which such check is drawn and such check shall3
be maintained as part of the records required by R.S. 18:1495.3. The name and4
address of each campaign depository so designated shall be filed with the5
supervisory committee in the first report after such designation. If any additional6
depositories are designated, they shall be reported in the first report following such7
designation.8
(2) An expenditure may be made by the candidate, campaign treasurer,9
deputy treasurer, or other authorized person on behalf of the candidate by electronic10
funds transfer provided that the transfer of funds is to a specific person and that11
records are maintained as to the objects or services for which such transfer of funds12
was made. Detailed records of each electronic fund transfer shall be maintained as13
part of the records required by R.S. 18:1495.3.14
* * *15
Section 2. This Act shall become effective upon signature by the governor or, if not16
signed by the governor, upon expiration of the time for bills to become law without signature17
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If18
vetoed by the governor and subsequently approved by the legislature, this Act shall become19
effective on the day following such approval.20
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Ligi HB No. 414
Abstract: Authorizes expenditures of campaign funds by electronic funds transfer provided
appropriate records are created and maintained.
Present law (Campaign Finance Disclosure Act–R.S. 18:1491.4 and 1495.2), relative to the
expenditure of campaign funds, prohibits any expenditure of campaign funds except by
check drawn on a designated campaign depository (bank, savings and loan, credit union, or
money market mutual fund) or from a petty cash fund subject to certain restrictions.
Requires each check to be made payable to a specific person, except a check made payable
to petty cash. Requires each check to indicate the objects or services for which the check is HLS 10RS-432 ENGROSSED
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drawn and requires the check to be maintained as part of the records required by present law
(R.S. 18:1491.5 and 1495.3).
Proposed law additionally authorizes the expenditure of campaign funds by electronic funds
transfer provided that the transfer of funds is to a specific person and that records are
maintained as to the objects or services for which such transfer of funds was made. Requires
detailed records of each electronic fund transfer to be maintained as part of the records
required in present law (R.S. 18:1491.5 and 1495.3) and otherwise retains present law.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 18:1491.4(D) and 1495.2(D))