Changes Recommended for Comment and Hearing Dates in Proposed Rule on Public Finance

(May 8, open meeting) a recommendation by Chair Ellen L. Weintraub and Commissioner Michael Toner to change the timeline for proposed revisions to its rules governing publicly financed presidential candidates and national nominating conventions (see FEC news release 04/16/03).

If the recommendation is adopted, the new deadline for public comments would be May 23 instead of the May 9 deadline previously announced.

A public hearing had been slated for May 19, but that would be postponed until June 6, with a July 17 target date for approving final rules.

The purpose of the proposed rule revisions (http://www.fec.gov/register.htm) is to more effectively administer the public financing program during the 2004 election cycle.

The regulations implement the provisions of the Presidential Election Campaign Fund Act, the Presidential primary Matching Payment Account Act and the Presidential Nominating Conventions Act, which establish eligibility requirements for presidential candidates and party nominating conventions seeking public financing, and indicate how funds received under the public financing system may be spent.

Chair Weintraub said, “We recognize the need for timely clarification of our rules in this area.  We also are aware, however, that many of those most interested in this rulemaking have been absorbed this week in assessing the impact of the district court opinion in McConnell v. FEC.  We believe that allowing this brief extension of the comment period will provide the opportunity for thoughtful responses to assist us in the proposed rulemaking without unduly delaying the result.”

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