State legislators left town early Saturday morning after passing an ethics package but it was missing a key provision. Campaign finance reform advocates wanted a new rule limiting contributions from contractors who deal with state agencies. It would also curtail donations from managers of financial funds to a candidate for State Treasurer.
A source told us that’s the part to which State Treasurer Janet Cowell objected, a reversal of her initial approval.
The Senate couldn’t gain approval for Senate bill 20 which would have set up public financing for the Treaurer’s race, so Cowell and other candidates will still have to rely on contributions. Those who oversee investment funds which the State Treasurer’s office selects for the State Retirement Fund can now continue to funnel donations to a campaign at the current level.