Press Room

Gov. Ritter signs Sen. Carroll's Campaign Finance Transparency Act

Tuesday, May 25 2010

Gov. Bill Ritter signed legislation today that will curb abuses with payday lending, address gender inequities in workplace salaries, bring greater transparency to campaign financing, and improve school safety.

Senate Bill 203 (M. Carroll/Weissmann & Middleton) addresses changes in campaign finance laws, and possible loopholes, created by the U.S. Supreme Court’s decision in Citizens United v. FEC, which found that corporations and unions may make unlimited independent campaign expenditures.   

“Colorado has a strong commitment to transparency for political spending and Senate Bill 203 attempts to capture how those dollars are used to support and oppose candidates in the wake of the Supreme Court’s decision,” Secretary of State Buescher said.

“American Democracy is built on a foundation of fair and free elections,” Sen. Morgan Carroll (D-Aurora) said. “To ensure fair and free elections, Colorado voters have consistently voted for transparency and accountability in the election process. We are protecting that legacy by holding corporations and unions to the same standards of accountability and transparency as we do for individuals."

“Colorado has a strong tradition of disclosure and transparency with campaign finance,” Rep. Paul Weissmann said. “This new law continues that tradition, even while it is under attack by the U.S. Supreme Court.

“Colorado has some of the best disclosure laws in the country but Citizens United threatens the integrity of our elections,” said Rep. Karen Middleton. “Colorado’s legislators are now forced to take action for accountability and transparency in our elections. This new law will level the playing field for the money that flows to elections from corporations, individuals and unions."