Public Financing
The Public Regulation Commission
&
Public Financing
What is the PRC?
The PRC regulates telecommunications, insurance, energy generation, transportation, power distribution, and utilities. It has the power to make many positive changes for the people of New Mexico and the environment. With the right people in office, the PRC could bring great improvements to our quality of life.
What is public financing?
This is the first election in New Mexico history with public financing. Public financing helps take the money out of politics so that our representatives work for the voters, not just for those who give the biggest campaign contributions. We fought for this a long time, and it’s important to show that it works. Candidates who choose to participate in the public financing system, and who qualify, receive at least $10,000 (more if an opponent spends more) in return for taking no contributions after qualifying.
David is the only candidate in this race participating in public financing. His only opponent, the Democrat, chose not to participate.
How did David qualify for public financing?
Candidates qualify by collecting “qualifying contributions”, $5 contributions from registered voters in the district. Any voter registered in the district (regardless of party) could make a qualifying contribution. David needed 165 qualifying contributions by the July 11 deadline to qualify. David submitted over 300 qualifying contributions to qualify for public financing.
How did David get onto the ballot?
David needed 742 valid signatures on nominating petitions by the filing date of Tuesday, July 11, 2006. Any registered voter in the district (regardless of party) could sign. The campaign submitted over 1900 signatures and David was certified as a candidate by the New Mexico Secretary of State on July 18
What about seed money?
During the period prior to receiving public money for the campaign, participating candidates can raise and spend up to $5,000 in “seed money”, with contributions limited to $100 per person. This is in addition to any qualifying contributions. Thanks to many generous individuals, the Bacon campaign raised the full $5000, and as a publicly financed campaign, will be accepting no further private contributions.
