Purpose

Beginning in 2008, the Act gives candidates for Commissioner of Insurance, State Auditor, and Superintendent of Public Instruction (3 of 10 Council of State offices) a voluntary option to finance their campaigns using a publicly supported fund, but only if hundreds of registered voters authorizes them to do so. The program is a pilot program, and will be periodically evaluated to consider inclusion of other offices:

· gives candidates an alternative to the money chase

· eliminates the reliance on donors who do business with the agency

· encourages voter involvement and voter “ownership” of elections

· puts realistic limits on campaign spending and fund-raising

When Does It Begin?

It would begin with the 2008 election and would be paid for through a non-remitting appropriation.

How does it Work?

Candidates must first demonstrate that they have earned the public’s trust to be eligible for money from the N.C. Voter-Owned Elections Fund. To qualify, you follow 3 steps:

STEP 1. Declare your intent to participate in the VOE program. If you spend over $20,000 for campaign-related purposes before filing this declaration, you can’t participate..

STEP 2. Raise a minimum of 750 small, qualifying donations ($10 to $200) from

registered voters in North Carolina

STEP 3. Submit a record of the qualifying contributions and also agree to:

· stop all fund-raising after you are certified as a qualified VOE candidate

· accept a total spending limit and use the public funds only for campaign purposes

· return any unused public funds to the Voter-Owned Elections Fund

What does a Certified Candidate Get?

Candidates who qualify receive a competitive amount of public money for the general election. If you have an opponent, the amount is the average amount spent by winning candidates reporting expenditures in contested races for that office in the last 3 elections, but not less than $300,000 Your party can also provide in-kind support of up to $30,000 during the entire election cycle.

If another candidate, or an outside group, spends money to influence the outcome of the election, then the publicly funded candidate will receive rescue funds in order to remain competitive. No public funds are provided if you have no opponent.

What does it cost?

Establishment of the fund will cost less than 2.3 million per year over the next two fiscal years. These funds would come from a direct appropriation.

Who Oversees the Act?

The state Board of Election administers the Act, with advice from a 5-member Advisory Council appointed by the Gov. It will recommend refinements to improve the program.