Rhode Island House Bill H5961

Rhode Island 2023 Regular Session

• Introduced: 3/1/23
• Refer: 3/1/23

Caption

Rhode Island Campaign Contributions And Expenditures Reporting

Impact

If enacted, H5961 would enhance transparency in campaign financing by mandating timely disclosures of all contributions and expenditures above certain thresholds. Candidates and treasurers would need to file regular reports detailing contributions above fifty dollars and outline expenditures exceeding one hundred dollars. This could potentially improve regulatory oversight and accountability in election financing, benefitting both voters and governing bodies by providing clearer insight into campaign funding.

Summary

House Bill 5961 proposes amendments to the Rhode Island Campaign Contributions and Expenditures Reporting law, focusing on the requirement for candidates and political committees to designate a financial institution as a depository for their campaign funds. Upon becoming a candidate, they must choose a suitable financial institution, ensuring compliance with state regulations related to campaign financing and reporting. The bill outlines specific obligations regarding the handling and reporting of contributions, expenditures, and the operations of campaign funds.

Contention

There may be points of contention surrounding this bill, particularly regarding its implications for local versus state regulations on campaign finance. Critics may argue that enforcing stringent rules on campaign finance can create barriers for smaller candidates or grassroots movements who might struggle to comply with financial institution requirements. Furthermore, the potential penalties for non-compliance, which include monetary fines and possible imprisonment, could be viewed as excessive by opponents who advocate for more lenient regulations in campaign financing.