LOS ANGELES — An initiative that would require California state lawmakers to wear clothing adorned with logos identifying their donors moved one step closer to being placed on the November ballot.

The "Name All Sponsors California Accountability Reform" initiative was given the title and summary by the California Attorney General's office on Dec. 31.

John Cox, a Republican business executive, who ran unsuccessfully for the U.S. House and Senate in Illinois, before moving to California in 2008, sponsored the initiative.

The measure must receive 365,000 valid signatures from registered voters to qualify for the ballot.

The measure would require state legislators to wear the logos of their biggest donors in a manner similar to jackets worn by NASCAR car racing drivers, which display their sponsors.

"Special interests give money to politicians with the expectation of a return," Cox said in statement. "If giving $50,000 to a handful of Assemblyman buys them votes or an advocate on the inside, it's worth the investment. And they don't have to look hard for politicians who are taking donations."

The landing page of the initiative's website, californiaisnotforsale.com, has photos displaying what legislators would look like with donor emblems sewn on their suits.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.