SB 3 Campaign Finance Reporting

Why NM Legislators Should Vote for SB 3

SB 3: Campaign Finance Reporting

Committees:  1. Senate Rules;  2. Senate Judiciary

Summary:  SB3 makes a number of amendments to the Campaign Reporting Act to bring it into line with recent court rulings and modern campaign practices. It eliminates loopholes for independent expenditures (expenditures by a group not part of a candidate’s campaign) and Political Action Committees (PACs), requires rapid reporting of the names of all parties whether as sole contributors or as members of a group, and requires that all political advertisements identify the person or organization paying for it.

History:  This bill has passed the New Mexico Senate five times, as well as all House committees in prior years. The 2017 version, SB 96, was vetoed by Governor Martinez.

Why This Bill Is Good for NM

  • In this age of Citizen’s United it has become crucially important to know the names of all individuals who contribute to campaigns in order to understand who may be attempting to buy the support of candidates.
  • Our political leaders are often beholden to special interests and wealthy donors whose identities and influence are undisclosed, leaving the average voter in the dark about their representatives’ motives.
  • When the Secretary of State developed regulations to require transparency in all campaign contributions, there was significant opposition from three Koch Brothers-funded organizations. It seems clear that they want to maintain their ability to fund campaigns in secret.

Supporting Organizations

  • Common Cause New Mexico
  • New Mexicans for Money Out of Politics

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