The Independent Electoral and Boundaries Commission (IEBC) has proposed new regulations in which it seeks to peg spending in political campaigns to Sh250 on each voter in an electoral area.
This means that if IEBC hits the 18 million target of registered voters by 2017 then presidential contenders can only spend up to Sh4.5 billion per candidate, the Star newspaper reports.
The regulations makes it mandatory that a presidential candidate should only receive a maximum of Sh50 million in donation from an organization and a maximum of Sh5 million in donation from an individual.
Governors will have their donation limits from organizations capped at Sh5 million, while donations from individuals will at most be Sh2 million.
For parliamentary candidates they will be allowed a donation of up to Sh5 million from an organization and only Sh1 million from an individual.
Members of County Assembly (MCAs) on the other hand will have their donations from organizations capped at only Sh500,000 and those from individuals at Sh100,000.
The regulations in the Election Campaign Financing Act, are meant to among other things, create a level playing field for all candidates, eliminate voter bribery, curb the use of public resources and money from illegal sources for political campaigns.
The legislation will also compel political parties and their candidates to fully disclose their sources of funding for before an election.
It is estimated that leading presidential contenders spent between Sh10 billion and Sh20 billion each in the highly contested 2013 race.
