Bill Description: House Bill 598 would require political candidates to open a separate bank account for campaign contributions and to transfer any personal loans to the campaign into the separate campaign bank account.
Rating: -1
Does it violate the spirit or the letter of either the United States Constitution or the Idaho Constitution? Examples include restrictions on speech, public assembly, the press, privacy, private property, or firearms. Conversely, does it restore or uphold the protections guaranteed in the US Constitution or the Idaho Constitution?
House Bill 598 would amend Section 67-6604, Idaho Code, to impose new requirements on political candidates. The first would require that “All campaign contributions, including any personal funds or loans from a candidate, shall be deposited into a campaign account established exclusively for the candidate or political committee.”
It would further require that “no personal funds of a candidate or any other person shall be commingled with any contributions received by the candidate or political committee.”
It would stipulate that “the political treasurer for each candidate or political committee shall maintain such account separately from any personal or business accounts and shall report all contributions, deposits, and expenditures therefrom in accordance with this chapter.”
Finally, it would say that “a candidate who makes a loan of personal funds to the candidate's own campaign shall deposit the full amount of the loan into the candidate's campaign account. The candidate shall, within seven (7) days of making the deposit, file with the secretary of state a written report certifying that the loan was deposited, stating the exact amount of the loan, and identifying the financial institution where the funds were deposited.”
While these requirements might not significantly burden established or wealthy candidates, they are particularly restrictive for first-time candidates and those with limited funds. A personal loan from a candidate to his campaign does not necessarily represent cash on hand that can be immediately and fully transferred to a dedicated campaign account, rather it reflects the financial commitment a candidate is willing to make over the course of a campaign.
Idaho law already requires strict accounting and reporting of contributions and expenditures by candidates and campaigns. The restrictions in this bill would unduly burden first-time and self-funded candidates.
The right to participate in the political process, which includes the right to seek public office, should not be unduly burdened by government restrictions, nor should someone be required to do business with a particular class of private entities (such as a bank) in order to run for office.
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