Amend the bill, as and if amended, by striking SECTION 57, beginning on line 18 on page 48, and inserting:
/ SECTION 57. Section 8-13-1312 of the 1976 Code is amended to read:
Except as is required for the separation of funds and expenditures under the provisions of Section 8-13-1300(7), a candidate shall not establish more than one campaign checking account and one campaign savings account for each office sought, and a committee shall not establish more than one checking account and one savings account unless federal or state law requires additional accounts. Unless otherwise permitted by federal or state law or the provisions of this section, a candidate and a committee may only have one campaign checking account and one campaign savings account. However, a candidate or a committee may establish a subsequent campaign account in a separate financial institution when the amount in the account, or each subsequent account, exceeds the amount that the financial institution can insure pursuant to the terms of the Federal Deposit Insurance Corporation, or its successor. A For purposes of this section, a financial institution is considered to be "a separate financial institution" when the federal tax identification numbers differ. A candidate or committee may only have one campaign checking account and one campaign savings account per financial institution. A candidate or committee with more than one checking account must exhaust funds contained in the checking account with the least amount of funds prior to utilizing another campaign checking account. Only one campaign checking account and one campaign savings accounts can be utilized at a time.
For purposes of this article, certificates of deposit or other interest bearing instruments are not considered separate accounts. A candidate's accounts must be established in a financial institution that conducts business within the State and in an office located within the State that conducts business with the general public. The candidate or a duly authorized officer of a committee must maintain the accounts in the name of the candidate or committee. An acronym must not be used in the case of a candidate's accounts. An acronym or abbreviation may be used in the case of a committee's accounts if the acronym or abbreviation commonly is known or clearly recognized by the general public. Except as otherwise provided under Section 8-13-1348(C), expenses paid on behalf of a candidate or committee must be drawn from the campaign account and issued on a check signed by the candidate or a duly authorized officer of a committee. All contributions received by the candidate or committee, directly or indirectly, must be deposited in the campaign account by the candidate or committee within ten days after receipt. All contributions received by an agent of a candidate or committee must be forwarded to the candidate or committee not later than five days after receipt. A contribution must not be deposited until the candidate or committee receives information regarding the name and address of the contributor. If the name and address cannot be determined within seven days after receipt, the contribution must be remitted to the Children's Trust Fund."
Renumber sections to conform.
Amend title to conform.