Proposition 15 - California Fair Elections Act

Repeals ban on public funding of political campaigns. Creates a voluntary system for candidates for Secretary of State to qualify for a public campaign grant if they agree to limitations on spending and private contributions. Each candidate demonstrating enough public support would receive same amount. Participating candidates would be prohibited from raising or spending money beyond the grant. There would be strict enforcement and accountability. Funded by voluntary contributions and a biennial fee on lobbyists, lobbying firms, and lobbyist employers. Fiscal Impact: Increased revenues (mostly from charges related to lobbyists) totaling over $6 million every four years. These funds would be spent on public financing for campaigns of Secretary of State candidates for the 2014 and 2018 elections.

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