Gov. Newsom signs multiple bills to reduce billionaire influence on elections

(FOX40.COM) — Gov. Gavin Newsom signed Senate Bills 42 and 398, which officials said reduce billionaires’ ability to influence elections.

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“California is the most diverse state in the world’s most diverse democracy. Right now, our founding ideals and values are being shredded before our eyes in Washington D.C., and California will not sit idle,” Gov. Newsom said. “These new laws further protect Californians’ voices and civic participation in what makes our state and our country great.”

Sen. Tom Umberg, Sen. Ben Allen and Assemblymember Alex Lee proposed SB 43.

According to officials, the November 2026 ballot will have a measure that gives voters the chance to repeal the ban on public financing of elections in California.

Repealing the ban would allow all cities and counties the ability to create programs for publicly financed elections.

Los Angeles, Long Beach, Oakland, Berkeley and San Francisco have publicly financed programs in place, due to current state laws allowing charter cities to do so.

Officials said this would help establish fair treatment for candidates, as well as reduce the ability of millionaires and billionaires to “buy elections.”

Meanwhile, SB 398, also proposed by Sen. Umberg, along with Sen. Josh Becker, criminalizes the offering of payments or prizes to influence voting or voting registration.

Officials said that the bill makes the presentation of a chance to win a lottery or prize-drawing contest, as a crime as well.

Those found guilty could go to jail, pay a fine of up to $10,000 or both.

“California has sent a clear message: our democracy belongs to the people,” Sen. Umberg said. “With SB 398 and SB 42, we are protecting voters from manipulative schemes and empowering communities to decide how campaigns are financed in our state. These laws reaffirm California’s commitment to fair, transparent, and accessible elections.”

Gov. Newsom took to Facebook on Thursday, “Today, I’m signing legislation to safeguard our elections and the voice of every voter. It’s now illegal to use contests or payments to get people to register to vote. And in the 2026 election, voters have the chance to repeal our state’s ban on the public financing of elections. Attempts by billionaires and outside actors to sway elections through unethical means undermine our democracy and civic participation. California will not sit idle as our democracy is attacked.”