While the overall ceiling would be lifted, a wider range of revenue, such as endowment income, would be taken into account.

A majority of MPs on the committee voted to update the country’s 2007 political finance law on 16 December, according to a Chamber of Deputies press release.

Public financing is available to parties who present a full list of candidates in all four electoral constituencies and receive at least 2% of total votes.

The bill would increase baseline funding of parties who meet that threshold from €100,000 to €135,000. The additional allowance, for each percentage point of votes received, would rise from €14,200 to €15,000.

A smaller amount, an annual grant of €35,000, would be available to parties with a full list of candidates in European elections who garner 2% of the vote.

The draft law would compel candidates to file annual statements to the Court of Auditors; political parties are already required to submit annual filings to the Chamber of Deputies.

The bill will be presented by Alex Bodry (LSAP), chair of the institutions and constitutional reform committee, “this week”, the chamber stated. No date for a full parliamentary vote has been announced.