Establishes Interest on Campaign Accounts (IOCAs) for candidates to deposit contributions, with interest remitted to the State Ethics Commission.

The bill mandates that all contributions received by candidates be deposited into Interest on Campaign Accounts (IOCAs) with eligible financial institutions. These accounts must pay interest or dividends at least equal to the highest rate available to non-IOCA customers or a benchmark set by the State Ethics Commission. One percent of the interest or dividends is remitted to the State Ethics Commission, which uses the funds to create positions for checking candidate filings. Candidates and committees must annually certify compliance with the provisions.

Establishes Interest on Campaign Accounts (IOCAs) for candidates to deposit contributions, with interest remitted to the State Ethics Commission.

The bill mandates that all contributions received by candidates be deposited into Interest on Campaign Accounts (IOCAs) with eligible financial institutions. These accounts must pay interest or dividends at least equal to the highest rate available to non-IOCA customers or a benchmark set by the State Ethics Commission. One percent of the interest or dividends is remitted to the State Ethics Commission, which uses the funds to create positions for checking candidate filings. Candidates and committees must annually certify compliance with the provisions.