Millionaire state insurance commissioner Steve Poizner will announce today that he will help finance a campaign against a ballot measure to alter legislative term limits.
Poizner, who signed ballot arguments against the measure, will announce his personal and financial involvement at an 11 a.m. press conference at the Senator Hotel near the Capitol.
Poizner, a moderate Republican, also will help bankroll the No on Proposition 93 effort, sources said. His contributions will help create an initial pool of several million dollars to fight the measure, which until now has been funded largely by a political action committee of U.S. Term Limits.
The opponents of the term limits ballot measure, meanwhile, this morning reported receiving $1.5 million in donations from U.S. Term Limits.
The national group, which has bankrolled term limits stiffening campaigns across the country and has close ties to New York developer Howard Rich, gave the money Monday as a pair of $750,000 donations. The contributions were reported to the secretary of state’s office on Tuesday morning.
Kevin Spillane, spokesman for the No on Proposition 93 effort, confirmed the donations, but declined further comment, saying they would be discussed at the morning press event with Poizner.
Poizner, who spent more than $14 million of his own money in his own insurance commissioner race, has been a rumored donor to the campaign -- with speculation peaking today as Poizner is set to appear with the No on 93 campaign.
This morning, Richard Stapler, a spokesman for the Yes on 93 campaign, released a list of recommended questions for Poizner, including, "Is this an effort to buy the California Republican Party nomination for Governor in 2010?"
Poizner is California's only statewide elected Republican besides Gov. Arnold Schwarzenegger and is on the GOP short list of would-be governor candidates.
Proposition 93 would reduce the number of years that a lawmaker could serve in the Legislature from 14 to 12, but allow all to be served in one house. It also would provide at least one extra term for current incumbents. State law currently allows only six years of service in the Assembly and eight in the Senate.
Before entering politics, Poizner was a multimillionaire entrepreneur who founded a successful Silicon Valley company, SnapTracker Inc., which developed a global positioning feature that enables emergency personnel to locate cellular telephone users. He sold the firm to Qualcomm Inc. for $1 billion.
Poizner largely bankrolled his own unsuccessful 2004 campaign for a Bay Area Assembly seat, donating more than $6 million; and invested heavily in an unsuccessful effort in 2005 to alter the way California draws legislative, congressional and Board of Equalization districts.
@Nyx.CommentBody@