Michigan Senate Bill SB1197

Michigan 2023-2024 Regular Session

• Introduced: 12/5/24
• Refer: 12/5/24
• Report Pass: 12/12/24
• Refer: 12/12/24
• Engrossed: 12/13/24
• Refer: 12/13/24

Caption

Campaign finance: statements and reports; definition of gift; modify. Amends secs. 3, 5, 7, 11 & 13 of 2023 PA 282 (MCL 169.303 et seq.).

Impact

The enactment of SB1197 is expected to have significant implications for state laws governing campaign finance. By tightening the regulations around financial disclosures, the bill aims to augment accountability of candidates and their financial transactions. This may deter potential misconduct and promote public trust in the electoral process, as candidates are required to provide comprehensive details about their income, assets, and liabilities. It could also facilitate better monitoring by the state's Secretary of State office.

Summary

SB1197 seeks to amend the Candidate for Office Financial Disclosure Act in Michigan, specifically modifying several sections related to the reporting requirements of candidates for public office. The bill introduces changes to the definitions and conditions under which candidates must file their financial disclosure reports. It mainly targets those candidates whose committees have received or expended more than $1,000 during an election cycle, ensuring greater transparency in campaign finance.

Sentiment

Overall, the sentiment surrounding SB1197 appears to be largely supportive among those advocating for increased transparency and accountability in political finances. Proponents argue that the bill would create a more level playing field for all candidates and reduce the impact of undisclosed financial sources on electoral outcomes. However, there are opponents who worry that the regulations may become cumbersome for candidates, particularly those who are not wealthy and face difficulties in complying with comprehensive financial reporting.

Contention

Notable points of contention regarding SB1197 include concerns about the burden of compliance on smaller candidates or those from underrepresented communities. Some stakeholders fear that stringent financial disclosure requirements may discourage participation in elections. Moreover, there is ongoing debate about the effectiveness of such disclosures in curbing corrupt practices, emphasizing the need for a balanced approach that encourages candidacy while ensuring integrity in the electoral framework.