The Georgian Parliament has passed amendments to the law on political entities of civilians in the third reading today, regulating the financing of political parties, News Georgia reports.
The law forbids legal bodies, their entities or other types of consolidated structures to finance political parties. However, parties may receive bank loans with an annual limit of about $60,000. Financial and material thresholds for donations from individuals were doubled. Party fees cannot exceed about $700 per member. Annual financing of parties must not exceed 0.2% of the country's annual GDP.
The Georgian Chamber of Control, instead of the Central Electoral Commission, will now monitor the finances of parties and political entities. A party is to present information on donations to the Chamber of Control within 3 days. An illegal donation is to be returned back in 3 days or it would confiscated by the budget in 7 days.
A party member or candidate cannot receive gifts, finances or other material valuables from citizens. A gift cannot exceed $3,000 in price.
