SB566: Bill Text

LRB-5363/1

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1995 - 1996 LEGISLATURE

1995 Senate BILL 566

February 21, 1996 - Introduced by Senator Panzer, cosponsored by Representatives Grothman, Ainsworth, Dobyns, Hahn, Kelso, Ladwig, Lazich, Lehman, Owens, Silbaugh, Zukowski and Seratti. Referred to Committee on State Government Operations and Corrections.

SB566,1,3 An Act to create 11.06 (13) of the statutes; relating to: treatment of certain contributions made by a committee of a recognized political party to a candidate for state office or his or her personal campaign committee.

Analysis by the Legislative Reference Bureau

Currently, a loan made to a candidate for state office or to the personal campaign committee of such a candidate, except a loan of money by a commercial lending institution made by the institution in the ordinary course of business, is considered to be a contribution to that committee in the amount or value of the loan. If the loan is repaid, the contribution is reduced by the amount of any repayment.

This bill provides that each contribution by a committee of a political party that is entitled to a separate ballot or column on the ballot in this state made to a candidate for state office or such a candidate's personal campaign committee shall be reported by the contributor and recipient as a loan during the 90-day period following receipt of the contribution. Any balance of the contribution that is not repaid or reimbursed to the political party committee after the 90th day following receipt of the contribution is no longer reportable as a loan. Violators of the requirement created by the bill are subject to a forfeiture (civil penalty) of not more than $500 for each violation. Intentional violators are guilty of a misdemeanor and may be fined not more than $1,000 or imprisoned for not more than 6 months or both.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SB566, s. 1 Section 1. 11.06 (13) of the statutes is created to read:

SB566,2,5 11.06 (13) Reporting of certain political party contributions. Each contribution made by a committee of a recognized political party to a candidate for state office or his or her personal campaign committee shall be reported by the contributor and recipient as a loan during the 90-day period following receipt of the contribution. Any balance of the contribution that is not repaid or reimbursed to the political party committee after the 90th day following receipt of the contribution shall not be reported as a loan.

SB566,2,6 (End)