California Governor Arnold Schwarzenegger has signed a law lowing the monetary threshold for political candidates, lobbying firms and others to file financial disclosure records online. The new threshold for cumulative contributions is $25,000, down from $50,000. -db
Sacramento Bee
May 10, 2010
By Jim Sanders
Gov. Arnold Schwarzenegger has signed legislation to lower the monetary threshold at which state candidates, lobbying firms and others must file financial disclosures online to the secretary of state’s office.
Assembly Bill 1181 by Assemblywoman Alyson Huber, D-El Dorado Hills, will take effect on Jan. 1 and is designed to increase the scope of data available to voters online about money in politics.
The measure requires state candidates, political committees and slate-mailing groups to file financial disclosures online if their cumulative contributions, spending or loan activity exceeds $25,000 in a campaign. The current threshold is $50,000.
Under AB 1181, lobbyists and firms that employ or hire them must report online if their contributions, gifts or other political activity exceed $2,500 in a calendar quarter. The current threshold is $5,000.
“This bill will improve transparency by making it easier for the public to track how money is raised and spent,” Huber said in a written statement. “We should be doing everything we can to make government as open as possible.”
Copyright 2010 Sacramento Bee