LATE CONTRIBUTION REPORTS - S.B. 841: COMMITTEE SUMMARY
Senate Bill 841 (as introduced 10-21-99)
Sponsor: Senator Thaddeus G. McCotter
Committee: Government Operations
Date Completed: 10-27-99
CONTENT
The bill would amend the Campaign Finance Act to require the Secretary of State to establish and maintain a single website for the disclosure of late contribution reports; and increase the penalty for failure to report a late contribution from $25 to $100 for each business day a report remained unfiled, not to exceed $2,000 (rather than the current maximum of $500).
Currently, a late contribution must be reported to a filing official within 48 hours after its receipt. A "late contribution" is a contribution of $200 or more received after the closing date of the last campaign statement required to be filed before an election. A filing official must make a statement or report required to be filed under the Act available for public inspection by the third business day following the date it is received. The bill provides that if a report were a report of a late contribution, the filing official also would have to make the report or its contents available to the public on the Internet, without charge, as soon as practical but not later than the end of the business day on which it was received.
MCL 169.216 & 169.232 - Legislative Analyst: G. Towne
FISCAL IMPACT
The Department of State has not provided any information regarding potential costs.
- Fiscal Analyst: E. LimbsS9900\s841sa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.