Publication 216, The First 100 Years
Waxman-Dymally Campaign Disclosure Act
One of the most unusual assignments ever given to the Board of Equalization was the responsibility for field investigations and audits of political campaign statements. This assignment-no doubt the result of the political skepticism generated by the Watergate break-in—was a provision of the Waxman-Dymally Campaign Disclosure Act, which was signed into law October 2, 1973. The Board was to audit the campaign statements of virtually every major state officer except the Controller and the other Members of the State Board of Equalization, whose campaign statements were to be audited by the Auditor-General. Proposition 9, approved by the voters in June 1974, transferred this auditing responsibility to the Franchise Tax Board.