This measure makes a number of changes to current state law regarding campaign contributions and spending. The measure: limits the amount of campaign contributions that an individual or group can make to a candidate for state and local elective office and prohibits lobbyists from making contributions; establishes both mandatory and voluntary campaign spending limits; limits when campaign fund-raising may occur; eliminates current restrictions on public officials receiving gifts and honoraria; eliminates tax deductions for lobbying expenses; and establishes penalties for violations of the measure and increases penalties for existing campaign law violations.