Can anyone take advantage of public funding under Proposition 89?
A. In order to receive public funding for a campaign, a candidate would be required to meet strict requirements. Prior to a primary election, a candidate would be required to collect a number of $5 donations (“qualifying contributions”) from registered voters commensurate with a particular office. A candidate for State Assembly would have to raise 750 qualifying contributions; Statewide officials must raise 7,500 and for Governor, 25,000. The Clean Money measure requires that these donations be paid to the state. In addition, candidates are required to agree to participate in public debates. Q. How will the public financing of campaigns be funded, and what will be the impact on small business owners? A. The Clean Money Fund primarily will be financed by a two-tenths of one percent (0.2%) increase in the corporation tax rate from 8.84% to 9.04%. This amounts to less than 20 cents for every $100 of taxable income. The overwhelming majority of small businesses pay nothing under this measu
