Lawmaker seeks to limit ability to invest campaign funds

CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLY5 things to watch in the Tennessee legislature (Feb. 5) | 1:05

Tennessee lawmakers are back in session. Here are five things to watch for the week of Feb. 5. Joel Ebert and Duane W. Gang / The Tennessean

1 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLY3 takeaways from Gov. Bill Haslam's State of the State address | 1:00

Tennessee Gov. Bill Haslam on Jan. 30, 2017 gave his annual State of the State address before the General Assembly. Here are three takeways from his speech, the next to last before leaving office. Joel Ebert and Duane W. Gang / The Tennessean / Wochit

2 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYGov. Haslam's 2017-18 education budget | 1:02

Gov. Bill Haslam's 2017-18 budget includes $100 million for teacher pay raises and $22.2 million for English-language learning students. Jason Gonzales / The Tennessean / Wochit

3 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYSen. Doug Overbey discusses wildfire recovery | 2:27

Sen. Doug Overbey discussed wilfire recovery efforts Tuesday in the Senate finance committee meeting in Nashville. Jake Lowary/Tennessean

4 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYRep. David Hawk reacts to State of the State | 2:43

Rep. David Hawk, R-Greeneville, reacts to Gov. Bill Haslam's State of the State address Jan. 30 at the capitol. Jake Lowary/Tennessean

5 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYSen. Jim Tracy reacts to State of the State | 1:56

Sen. Jim Tracy, R-Shelbyville, reacts to Gov. Bill Haslam's State of the State address Jan. 30 at the capitol. Jake Lowary/Tennessean

6 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYNashville Democrats react to State of the State | 1:15

Democrats Rep. Mike Stewart and Sen. Jeff Yarbro, both of Nashville, react to State of the State address Jan. 30 at the capitol. Jake Lowary/Tennessean

7 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYRaw video: Haslam discusses 2018 budget proposal | 5:51

Gov. Bill Haslam outlined his 2018 budget with reporters on Jan. 30 at the capitol. Jake Lowary/Tennessean

8 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYSenator Mark Norris reacts to State of the State pt. 2 | 0:00

State of the State Kirk Bado / The Tennessean

9 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYSenator Mark Norris reacts to State of the State pt. 1 | 0:00

Norris reacts to State of the State.

10 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLY5 things to watch in the Tennessee legislature (Week of Feb. 1) | 0:35

Here are 5 big topics coming up to watch for this week in the 110th General Assembly. Jake Lowary / The Tennessean / Wochit

11 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYGov. Haslam wants to expand broadband access to Tennesseans | 3:36

Gov. Bill Haslam on Thursday, Jan. 26, 2017 announced efforts to expand broadband access. Adam Tamburin/The Tennessean

12 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYGov. Haslam outlines broadband initiative | 1:03

Gov. Bill Haslam announced the latest plank of his legislative agenda — a broadband initiative — Thursday morning at Cane Ridge High School in Antioch. Haslam's plan will provide $45 million over 3 years in grants and tax credits for service providers. The governor said the plan focuses on three broad issues: funding, cutting regulation and education — "digital literacy." Karen Kraft / The Tennessean

13 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLY5 things to know about Gov. Haslam's IMPROVE Act proposal | 1:11

The plan, which is officially known as the Improving Manufacturing, Public Roads and Opportunities for a Vibrant Economy or IMPROVE ACT was unveiled on Wednesday. Karen Kraft / The Tennessean

14 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYSen. Doug Overbey discusses Gatlinburg recovery | 1:06

Sen. Doug Overbey discusses Gatlinburg recovery after a meeting Thursday at the legislature in Nashville. Jake Lowary / The Tennessean

15 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYKey legislative issues to watch | 1:42

With lawmakers set to return to Nashville on Tuesday to officially convene the 110th General Assembly, the session is expected to cover a multitude of issues ranging from a potential gas tax increase to how to spend the state's budget surplus. Kyleah Starling/The Tennessean

16 of 17CLOSESkip in x

Embed

x

Share

110TH TENNESSEE GENERAL ASSEMBLYRon Ramsey readies to leave Lt. Governor post | 0:47

Outgoing Lt. Gov. Ron Ramsey talks about retiring from the leadership position in the Tennessee legislature. Lacey Atkins / Tennessean

17 of 17

  • 5 things to watch in the Tennessee legislature (Feb. 5)
  • 3 takeaways from Gov. Bill Haslam's State of the State address
  • Gov. Haslam's 2017-18 education budget
  • Sen. Doug Overbey discusses wildfire recovery
  • Rep. David Hawk reacts to State of the State
  • Sen. Jim Tracy reacts to State of the State
  • Nashville Democrats react to State of the State
  • Raw video: Haslam discusses 2018 budget proposal
  • Senator Mark Norris reacts to State of the State pt. 2
  • Senator Mark Norris reacts to State of the State pt. 1
  • 5 things to watch in the Tennessee legislature (Week of Feb. 1)
  • Gov. Haslam wants to expand broadband access to Tennesseans
  • Gov. Haslam outlines broadband initiative
  • 5 things to know about Gov. Haslam's IMPROVE Act proposal
  • Sen. Doug Overbey discusses Gatlinburg recovery
  • Key legislative issues to watch
  • Ron Ramsey readies to leave Lt. Governor post

Buy Photo

Tennessee state Capitol at night Monday, Jan. 30, 2017, in Nashville(Photo: Larry McCormack / The Tennessean)Buy Photo

An East Tennessee Republican wants to limit the ability of state legislators to invest campaign money in companies, which was done by expelled former Rep. Jeremy Durham.

Sen. , R-Maryville, introduced a Thursday requiring any investment of campaign funds to only be in a traditional bank or credit union account that has federal backing.

The measure comes more than five months after The Tennessean reported that Durham invested campaign money in the company of Andrew Miller, a well-known Republican donor.

Although such investments are not illegal in Tennessee, other states limit lawmakers to investing campaign money only in federally backed accounts.

Under Overbey‘s legislation, any interest, dividends or income earned by an investment legally made under this legislation would have to be reported on the candidate‘s financial disclosure report.

Although the state‘s  includes a space for lawmakers to list earnings from investments, Drew Rawlins, executive director of the state , said there‘s no efficient way to determine whether public officials are reporting any returns.

Durham invested money from his campaign accounts into Life Watch Pharmacy and DiaTech Oncology, both of which are owned by Miller. Durham‘s previously filed ethics disclosure forms have listed DiaTech Oncology as a personal source of investment income. Miller and members of his family also have given campaign donations to Durham, as well as .

News of Durham‘s investment into Miller‘s companies came amid a state probe into his campaign finances, which is expected to conclude next week. Campaign finance officials have already discovered a $191,000 discrepancy between Durham‘s campaign finance records and his bank account.

Overbey‘s proposed legislation includes punishment for any candidate, political action committee or campaign treasurer who illegally invests money. It would impose a maximum fine of $10,000 or 115 percent of the amount invested if campaign finance officials found an improper investment.

Aside from his bill on campaign investments, Overbey also has signed onto a measure that would require lawmakers to disclose the amount and source of funding for travel or other legislative expenses paid by politicos.

The legislation came after an ongoing Tennessean investigation that uncovered numerous trips by lawmakers paid for by political donors or advocates.

As of publication there is no House sponsor to Overbey‘s investments bill.

Reach Joel Ebert at  or and on Twitter .

CONNECTCOMMENTEMAILMORERead or Share this story: http://tnne.ws/2l093Uy