The legislation prohibits state contractors who have contracts in excess of $50,000 from making any contribution to the statewide officeholder who let the contract (or to a declared challenger) for that office for the term of the incumbent officeholder or for two years after the end of the contract, whichever is longer. Violations by the contractor would void the contract. Political committees in violation of the prohibition would forfeit those contributions to the General Revenue Fund.
“The penalties put in place by this law are just as important as the new regulations,” said Holmes. “Tightening the rules and closing the loopholes that exist in current law provide a foundation for better government and strengthen our efforts to protect taxpayer dollars.”