SENATE BILL 387

48th legislature - STATE OF NEW MEXICO - second session, 2008

INTRODUCED BY

Michael S. Sanchez

AN ACT

RELATING TO ELECTIONS; LIMITING CONTRIBUTIONS BY CERTAIN PERSONS TO CANDIDATES SEEKING PUBLIC OFFICE IN AN ELECTION COVERED BY THE CAMPAIGN REPORTING ACT.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. A new section of the Campaign Reporting Act is enacted to read:

     "[NEW MATERIAL] CONTRIBUTION LIMITATIONS--CANDIDATES.--

          A. A person who is not required to register pursuant to the Campaign Reporting Act shall not make a contribution or offer or agree to make a contribution, directly or indirectly, to a candidate, campaign committee or treasurer of a campaign committee that will cause that person's aggregate amount of contributions to the candidate to exceed two thousand three hundred dollars ($2,300) during the primary election and two thousand three hundred dollars ($2,300) during the general election.

          B. A candidate, campaign committee or treasurer of a campaign committee shall not accept or solicit a contribution, directly or indirectly, from a person who is not required to register pursuant to the Campaign Reporting Act that will cause that person's aggregate amount of contributions to the candidate to exceed two thousand three hundred dollars ($2,300) during the primary election and two thousand three hundred dollars ($2,300) during the general election.

          C. On the day after each general election, the contribution amounts provided in Subsections A and B of this section shall be increased by the annual percentage increase between the next preceding calendar year and the preceding calendar year of the consumer price index for all urban consumers, United States city average for all items, published by the United States department of labor. The amount of the increase shall be rounded to the nearest multiple of one hundred dollars ($100). The secretary of state shall publish by October 1 before each general election the adjusted contribution limits that shall take effect the day after the following general election."

     Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is January 1, 2009.

- 2 -