The Seattle City Council approved a bill last night that changes the way campaign finance will work in future elections. Council Bill 117548 was approved by a 7-2 vote, but it will not take effect until after the upcoming November elections.

The new law changes the definition of election cycle, which now starts January 1 in the year prior to the general election for that office and will end April 30 following the election. Candidates will only be allowed to raise money and accept contributions during the election cycle period. The new law also limits the amount of money incumbents can carry over to the next election. The council believes that this will give challengers more of an opportunity to unseat an incumbent.

Currently, there is no limit to how much money candidates can stockpile, leading most incumbents to create massive war chests to fend off challengers. The new law does not allow any candidate to carry money over past the end of the election cycle. Current city council members have 30 days to transfer their current funds to a new campaign without being subject to the rules. Political committees are also subject to the carry-over provisions.

Finally, the new law also raises the contribution limits from $600 to $700 to candidates for mayor, city council, or city attorney.

Councilman Mike O’Brien has introduced a bill to the city council in hopes of limiting the advantages incumbents currently have in city elections. The bill, which has been placed into committee, would limit the election cycle, limit the time frame a person can raise money for a campaign, and limit the amount of money a candidate may keep at the end of the election cycle.

The new election cycle would start on January 1st of the year that office is up for election and end on April 30th following the general election. Also, a candidate would be forced to get rid of the money in his or her war chest following the end of the election cycle. Councilman O’Brien believes this will limit the advantage an incumbent has over challengers and encourage more people to run for city office.

The bill would take effect 30 days after the mayor signs it, however any money received by a candidate prior to the effective date may be retained until the next election for that office.