Election Campaigns. Contributions and Spending Limits. Public Financing. Disclosures. Initiative Statute.
	Official Title and Summary prepared by the Attorney General
Full Text of Proposed Law	Election Campaigns. Contributions and Spending Limits. Public Financing. Disclosures. Initiative Statute.

• Expands campaign contribution disclosure requirements, establishes contribution limits from single sources of $5,000 for statewide candidates, $3,000 for other candidates, $25,000 for political parties, and $50,000 total per election. Bans corporate contributions. Limits fund-raising to period 12 months before primary election and ninety days after election.
• Provides public financing of campaign media advertisements and voter information packets for qualifying candidates and ballot measure committees adopting spending limits ranging from $300,000 for Assembly primary race to $10,000,000 for Governor's race.
• Requires ballot pamphlet to list top contributors on ballot measures.

Summary of Legislative Analyst's
Estimate of Net State and Local Government Fiscal Impact:

• State costs of more than $55 million annually, potentially offset to an unknown extent.
• Local government costs of potentially several million dollars annually.

Argument in Favor of Proposition 25

Rebuttal to Argument in Favor of Proposition 25

Argument Against Proposition 25

Rebuttal to Argument Against Proposition 25

Full Text of Proposition 25