ENROLLED
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ACT No. 577
Regular Session, 2010
HOUSE BILL NO. 414
BY REPRESENTATIVE LIGI
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
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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
as specifically provided in Paragraph (2) of this Subsection and Subsection E of this21
Section. Each check drawn on any such account shall be made payable to a specific22
person, except a check made payable to petty cash. Each check drawn on such an23
account shall indicate the objects or services for which such check is drawn and such24 ENROLLEDHB NO. 414
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check shall be maintained as part of the records required by R.S. 18:1491.5. The1
name and address of such campaign depository so designated shall be filed with the2
supervisory committee in the statement of organization required by R.S. 18:1491.1.3
If any additional depositories are designated, they shall be reported within ten days4
following such designation as required by R.S. 18:1491.1.5
(2) An expenditure may be made by a committee chairman, committee6
campaign treasurer, deputy treasurer, or other authorized person on behalf of the7
committee by electronic funds transfer provided that the transfer of funds is to a8
specific person and that records are maintained as to the objects or services for which9
such transfer of funds was made. Detailed records of each electronic fund transfer10
shall be maintained as part of the records required by R.S. 18:1491.5.11
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§1495.2. Campaign treasurers; campaign depositories; expenditures by check; petty13
cash fund14
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D.(1) The candidate shall designate one or more national or state banks or16
state or federally chartered savings and loan associations or savings banks, or state17
or federally chartered credit unions, as his campaign depositories and may invest in18
a money market mutual fund and designate such fund as a campaign depository. The19
candidate, his campaign treasurer, and any deputy treasurers shall deposit any20
contributions received by them into an account or accounts maintained at such21
depository or depositories. No expenditure shall be made by any candidate,22
campaign treasurer, deputy treasurer, or any other person on behalf of the candidate,23
except by check drawn on such account or accounts, except as specifically provided24
in Paragraph (2) of this Subsection and Subsection E of this Section. Each check25
drawn on any such account shall be made payable to a specific person, except a26
check made payable to petty cash. Each check drawn on such an account shall27
indicate the objects or services for which such check is drawn and such check shall28
be maintained as part of the records required by R.S. 18:1495.3. The name and29
address of each campaign depository so designated shall be filed with the30 ENROLLEDHB NO. 414
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supervisory committee in the first report after such designation. If any additional1
depositories are designated, they shall be reported in the first report following such2
designation.3
(2) An expenditure may be made by the candidate, campaign treasurer,4
deputy treasurer, or other authorized person on behalf of the candidate by electronic5
funds transfer provided that the transfer of funds is to a specific person and that6
records are maintained as to the objects or services for which such transfer of funds7
was made. Detailed records of each electronic fund transfer shall be maintained as8
part of the records required by R.S. 18:1495.3.9
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Section 2. This Act shall become effective upon signature by the governor or, if not11
signed by the governor, upon expiration of the time for bills to become law without signature12
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If13
vetoed by the governor and subsequently approved by the legislature, this Act shall become14
effective on the day following such approval.15
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: