News Releases, Media Advisories
June 17, 2002
Advisory to Editors, Correspondents, Broadcasters Regarding Soft Money Rules
|The Federal Election Commission (FEC) will meet on Wednesday, June 19,
2002 to consider draft final rules implementing the soft money provisions of the
Bipartisan Campaign Reform Act of 2002 (BCRA). The meeting will be held in the 9th floor
hearing room at the Commissions offices, 999 E Street N.W. in Washington, beginning
at 10 am.
The soft money provisions of the new law affect the financial activity of national, state, and local party organizations, as well as fundraising efforts by federal candidates and elected officials.
The FEC published a Notice of Proposed Rulemaking on May 9, with a public comment period that ended on May 29. Comments were received from 19 individuals and groups including the sponsors of the legislation, party organizations, and interest groups. Public hearings were held on June 4-5 during which representatives of interest groups, political parties, and others provided testimony regarding the draft rules.
Under the BCRA, signed into law by President Bush on March 27, rules covering soft money must be in place by June 25. The new law does not actually take effect, however, until November 6, 2002.