Attorney General Jerry Brown has taken the first step toward running for governor, filing official paperwork with the Secretary of State's office to start an exploratory committee.
Tuesday's filing means the former governor can collect up to $25,900 from individual donors for his potential Democratic gubernatorial bid, up from the $6,500 individuals can give him now.
Campaign adviser Steve Glazer says that allows Brown to compete against deep-pocketed Republicans.
The lower contribution limit hasn't hurt Brown so far.
In July he reported having nearly $7.4 million in the bank, compared with just $1.2 million for his only other Democratic rival so far, San Francisco Mayor Gavin Newsom.
Brown, who earned the moniker of "Governor Moonbeam" for his first term in office in the '70s, has been hinting at a run for governor for months.
Newsom may not have the money, but his campaign is getting some star power after recently announcing he has the blessing of former President Bill Clinton.
Clinton will speak alongside Newsom at Los Angeles City College about green technology and its role on future jobs.
"Bill Clinton remains one of the most revered public figures among California Democrats," Newsom said.
The former president will also host a fundraiser to benefit Newsom's campaign.
Top GOP hopefuls are former eBay CEO Meg Whitman and State Insurance Commissioner Steve Poizner.