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TO AMEND SECTION 8-13-1300, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION OF CAMPAIGN FINANCE CONTRIBUTION, SO AS TO PROVIDE THAT CONTRIBUTIONS EXPENDED TO INFLUENCE THE OUTCOME OF AN ELECTIVE OFFICE MUST BE DISCLOSED IN THE SAME MANNER AS CONTRIBUTIONS DISCLOSED PURSUANT TO SECTION 8-13-1308, BUT ARE NOT SUBJECT TO THE CONTRIBUTION LIMITS OF SECTION 8-13-1322, AND TO FURTHER DEFINE "CONTRIBUTION"; AND TO AMEND SECTION 8-13-1312 TO ELIMINATE THE REFERENCE TO THE SEPARATION OF FUNDS AND EXPENDITURES UNDER THE PROVISIONS OF SECTION 8-13-1300.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 8-13-1300(7) of the 1976 Code is amended to read:
"(7)(A) 'Contribution' means a gift, subscription, loan, guarantee upon which collection is made, forgiveness of a loan, an advance, in-kind contribution or expenditure, a deposit of money, or anything of value made to a candidate or committee to influence an election; or payment or compensation for the personal service of another person which is rendered for any purpose to a candidate or committee without charge, whether any of the above are made or offered directly or indirectly. Contributions expended by a noncandidate committee, as defined by Section 8-13-1300(23), to influence the outcome of an elective office, as defined by Section 8-13-1300(31)(c), which do not expressly advocate a vote for or against a candidate, but which, when taken in context, have no reasonable meaning other than to urge the election or defeat of a clearly identified candidate, must be disclosed in the same manner as contributions disclosed pursuant to Section 8-13-1308(F), but are not subject to the contribution limits of Section 8-13-1322.
(B) 'Contribution' does not include
(a) volunteer personal services on behalf of a candidate or committee for which the volunteer or any person acting on behalf of or instead of the volunteer receives no compensation either in cash or in-kind, directly or indirectly, from any source ; or (b) a gift, subscription, loan, guarantee upon which collection is made, forgiveness of a loan, an advance, in-kind contribution or expenditure, a deposit of money, or anything of value made to a committee, other than a candidate committee, and is used to pay for communications made not more than forty-five days before the election to influence the outcome of an elective office as defined in Section 8-13-1300(31)(c). These funds must be deposited in an account separate from a campaign account as required in Section 8-13-1312."
SECTION 2. 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 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. 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."
SECTION 3. This act takes effect upon approval by the Governor.
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