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VOL. 132 | NO. 63 | Wednesday, March 29, 2017

Limits on Tennessee Campaign Investments Headed to Governor

The Associated Press

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NASHVILLE, Tenn. (AP) – A bill to prevent campaign funds from being invested in private companies is headed for Republican Gov. Bill Haslam's desk.

The legislation was introduced following reports that expelled Rep. Jeremy Durham heavily invested campaign funds in a company owned by prominent GOP donor Andy Miller Jr.

The House on Monday voted 95-0 in favor of the bill sponsored by Republican Rep. Gerald McCormick of Chattanooga. The Senate earlier passed its version 32-1.

The bill would limit candidate and political campaign committees' investments to banks or credit unions that are members of the Federal Deposit Insurance Corporation. It would also require any income from campaign investments to be reported on financial disclosure reports.

Durham has until May 1 to respond to a state audit of his campaign finances.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 133 1,342
MORTGAGES 0 131 1,047
FORECLOSURE NOTICES 0 19 170
BUILDING PERMITS 0 305 3,056
BANKRUPTCIES 20 118 736
BUSINESS LICENSES 27 53 329
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0