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Governor Opens New Campaign Accounts

Governor Schwarzenegger is opening two new campaign accounts for political committees allowing him to raise funds for ballot measures and lobbying campaigns in the Legislature.

They could also help finance a possible re-election bid in 2006.

One of the committees — the California Recovery Team — will allow the governor to act as a lobbying organization that stages rallies and other public-relations ventures. The committee will be considered a ballot-measure account under California campaign law — enabling Schwarzenegger to avoid the state´s limits on donations to individual candidates. Donations to the second committee — a 2006 campaign fund — will have to be restricted to $21,200 from individual and corporate contributors under state campaign finance law.

Schwarzenegger aides expect to file the creation of the gubernatorial campaign committee with the secretary of state´s office as soon as tomorrow. The governor´s California Recovery Team was filed Monday.