§ 17-25-19 - Public financing of election campaigns – Outlined.
SECTION 17-25-19
§ 17-25-19 Public financing of electioncampaigns – Outlined. – (a) To effectuate the purpose stated in § 17-25-18, public funds shall bemade available under the terms and conditions of this section and §§17-25-20 – 17-25-27 to qualifying candidates for general office who agreeto abide by a limitation on the total amount of campaign contributions receivedand expenditures made for election purposes.
(b) The nominees for general office of each political party,as defined in § 17-1-2(9), and independent candidates for those officeswho meet the requirements set forth in § 17-25-20(6), shall be eligible toreceive two dollars ($2.00) of public funds for each qualified dollar ($1.00)of private funds contributed which do not exceed an aggregate of five hundreddollars ($500) from a single source within an election cycle and one dollar($1.00) of public funds for each qualified dollar ($1.00) of private fundscontributed which exceed an aggregate of five hundred dollars ($500) from asingle source within an election cycle but do not exceed the limitations onaggregate contributions which are eligible to be matched set in §17-25-20(3), subject to the provisions of § 17-25-20(2). The total amountof public funds provided to a candidate shall not exceed seven hundred fiftythousand dollars ($750,000) in matching funds for a total of one million fivehundred thousand dollars ($1,500,000) for candidates for governor; and onehundred eighty-seven thousand five hundred dollars ($187,500) in matching fundsfor a total of three hundred seventy-five thousand dollars ($375,000) forcandidates for other general offices.
(c) In order to be eligible for matching public funds, eachcandidate at the time he or she becomes a candidate, as defined in §17-25-3(2), must sign a statement under oath pledging to comply with thelimitations on campaign contributions and expenditures and with all of theterms and conditions set forth in this chapter. Any candidate who fails to filethe statement with his or her declaration for office shall be ineligible toreceive public funds.