Companies and individuals are writing big checks to boost campaigns for and against the nine propositions slated for the November ballot.
Committees for and against the ballot measures have raised more than $84.25 million in contributions of $100,000 or more since the beginning of the year, according to an analysis released today by the Fair Political Practices Commission.
The most active big-money fundraisers were the campaigns surrounding Proposition 24, which would repeal corporate tax benefits approved by the Legislature, and Proposition 23, which would suspend the state's greenhouse gas reduction law until the unemployment rate drops.
Proposition 24 pits the California Teachers Association, which poured $6.5 million into the initiative campaign, against 15 companies writing checks of $100,000 or more.
Oil companies have been the major funders of Proposition 23, with the 10 opposition committees raising their cash mostly from small donors (with the exception of a $5 million contribution from San Francisco hedge fund manager Thomas Steyer, the co-chair of the opposition effort).
FPPC Chairman Dan Schnur called the findings "the big story when it comes to the influence of big money in California politics."
"Once again, 2010 is destined to be a record-setting year in the annals of big-dollar spending on California initiatives. I predict this record will stand until 2012," he said in a statement.
The FPPC is tracking contributions of $100,000 or more to all the ballot measure campaign committees. See the full list here.
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