8 Colo. Code Regs. § 1505-6-2

Current through Register Vol. 47, No. 22, November 25, 2024

Rule 8 CCR 1505-6-2 - Candidates and Candidate Committees

2.1 Standalone candidates

2.1.1 A standalone candidate need not register a candidate committee.

2.1.2 A standalone candidate must file disclosure reports for all reporting periods in which he or she makes expenditures. [Sections 1-45-108 and 1-45-109, C.R.S.]

2.2 Candidate committees

2.2.1 A candidate may serve as the candidate committee's registered agent or appoint another natural person to be the registered agent. Only the registered agent, the designated filing agent, or the candidate may file the contribution and expenditure report.

2.2.2 Once assigned a candidate committee must follow the frequent filing schedule for the remainder of the year, except as outlined in Rule 17.5.

2.2.3 A candidate committee may accept the contribution limit specified in Colo. Const. Article XXVIII, Section 3(1) and section 1-45-103.7 (1.5), C.R.S. for the primary election even if the primary election is canceled under section 1-4-104.5(1), C.R.S. or the candidate is running unopposed.

2.2.4 Managing unexpended campaign contributions

(a) A candidate committee's ending balance on the report filed 35 days after the major election must reflect the committee's unexpended balance and that total is reported as the beginning balance on the first report due in the next election cycle. The candidate committee's beginning balance must reflect what amount is retained for use in a subsequent election cycle and what amount is retained for use as unexpended funds.

(b) Candidates seeking re-election to the same office

(1) A candidate committee may retain contributions to use in a subsequent election cycle for the same public office, in an amount not to exceed the political party contribution limit in Colo. Const. Article XXVIII, Section 3(3) and section 1-45-103.7 (1.5)(a)(III), C.R.S. (as adjusted by Rule 10.17).

(2) If a candidate committee retains contributions to use in a subsequent election cycle for the same office, the amount retained counts toward the limit on contributions from a political party.

(3) If a candidate committee retains contributions from a prior election cycle in excess of the political party contribution limit, the candidate committee may not use those funds for any subsequent election cycle but may retain them for use in accordance with section 1-45-106(1)(b), C.R.S., if applicable. The committee may also contribute the funds to a political party, donate the funds to a charitable organization recognized by the Internal Revenue Service, or return the funds to contributors.

(c) Candidates seeking election to a different office

(1) A candidate committee may transfer funds to a new candidate committee established by the same candidate for a different public office, subject to the political party contribution limit for the prior office sought. [Colo. Const. Article XXVIII, Section 3, and section 1-45-103.7(12)(b), C.R.S.]

(A) Funds held in excess of the party limit must be disbursed before the new election cycle in accordance with section 1-45-106(5), C.R.S., and cannot be rolled over.

(B) Funds previously designated as unexpended funds from a prior election cycle cannot be transferred to the new committee and must be disbursed as specified in section 1-45-106(1)(a) and (b), C.R.S.

(2) Contributions from persons or committees made to the prior candidate committee do not apply toward the contribution limits for the new candidate committee.

(3) A candidate committee transferring funds to a candidate committee for a different office must terminate within ten days of registering the new candidate committee.

(4) A candidate seeking election to a state, county, or local office may not transfer funds from a federal candidate committee to a Colorado candidate committee that is subject to the provisions of the Fair Campaign Practices Act.

(d) Funds rolled over, up to the political party limit of a new candidate committee, from a candidate's prior candidate committee will have the effect of offsetting how much the candidate may receive in party contributions during that election cycle by the amount of the rollover.

2.2.5 Disposition of debt in anticipation of committee termination

(a) A candidate committee must report all contributions received during the election cycle and those contributions are subject to the contribution limit, regardless of debt carried over from a prior election cycle.

(b) Financial obligations incurred by a candidate committee in an election cycle that are not paid within a commercially reasonable period of time, not to exceed one year after the close of that election cycle, are "contributions" from the person extending credit.

2.3 Candidate affidavits. A candidate required to file with the Secretary of State must file a candidate affidavit electronically using the Secretary of State's online campaign finance filing system. [Sections 1-45-110(1) and 24-21-111, C.R.S.]

2.4 Personal financial disclosures

2.4.1 Filing of personal financial disclosures

(a) A candidate who is not an incumbent need not file a personal financial disclosure statement if the candidate filed a full disclosure statement less than 90 days before filing a candidate affidavit.

(b) If a candidate withdraws their candidacy by submitting appropriate documentation before filing the disclosure statement required in section 1-45-110(2)(a), C.R.S., the candidate need not file a disclosure statement. Any delinquent filing fines that the candidate accrued before withdrawing may be waived by the appropriate filing office.

(c) An incumbent must file full a personal financial disclosure statement annually. Personal financial disclosure statement update forms are no longer accepted.

(d) An incumbent seeking re-election need not file a personal financial disclosure statement if the incumbent filed a full disclosure statement less than 30 days before filing a candidate affidavit.

(e) Any personal financial disclosure statements filed by incumbents more than 30 days before January 10th will not satisfy the requirement to file the annual disclosure statement.

(f) Personal financial disclosure statements must be amended within 30 days of a substantial change in interest. Amended personal financial disclosure statements must be made on the form provided by the Secretary of State.

(g) All personal financial disclosure filings required under sections 1-45-110 and 24-6-202, C.R.S., must be filed electronically by 11:59 p.m. MT on the due date and will be publicly available online.

2.4.2 Income and debt ranges for required disclosures:

(a) Ranges for income from any individual source:

(i) Less than $999;

(ii) $1,000 to $9,999;

(iii) $10,000 to $24,999;

(iv) 25,000 to $49,999:

(v) $50,000 to $74,999;

(vi) $75,000 to $99,999;

(vii) $100,000 to $149,999;

(viii) $150,000 to $199,999;

(ix) $200,000 to $249,999;

(x) $250,000 to $499,999;

(xi) $500,000 to $749,999;

(xii) $750,000 to $999,999;

(xiii) $1,000,000 to $1,499,999;

(xiv) $1,500,000 to $ 1,999,999;

(xv) $2,000,000 to $4,999,999; and

(xvi) Greater than $5,000,000.

(b) Ranges of debt:

(i) Less than $1,000;

(ii) $1,000 to $9,999;

(iii) $10,000 to $24,999;

(iv) 25,000 to $49,999;

(v) $50,000 to $74,999;

(vi) $75,000 to $99,999;

(vii) $100,000 to $149,999;

(viii) $150,000 to $199,999;

(ix) $200,000 to $249,999;

(x) $250,000 to $499,999;

(xi) $500,000 to $749,999;

(xii) $750,000 to $999,999;

(xvi) $1,000,000 to $1,499,000;

(xvii) $1,500,000 to $1,999,999; and

(xviii) Greater than $2,000,000.

2.4.3 Failure to file

(a) Any person can file a complaint under section 1-45-111.7, C.R.S., concerning the completeness, accuracy, or timeliness of a candidate's, including an incumbent who is also a candidate, personal financial disclosure filed in accordance with a candidate affidavit.

(b) In the event a complaint concerning the completeness, accuracy, or timeliness of an incumbent's personal financial disclosure is filed with the Department when such incumbent is not a candidate, the Department will transmit the complaint to the appropriate body for considering such complaints as is designated under section 24-6-202(8), C.R.S. The Department will notify both the complainant and the incumbent of the transfer of the complaint. Upon such transfer, the Department will take no further action on the complaint unless or until the public body that received the transfer refers the matter back to the Department.

(c) If a complaint is filed under section 1-45-111.7, C.R.S., alleging that the candidate's personal financial disclosure was inaccurate or an amended disclosure was not accurate or timely filed, the division may consider the following responses from the candidate, without limitation, in determining whether the personal financial disclosure or amendment meets statutory requirements:

(1) Documentation refuting the allegation of inaccuracy or incompleteness, including without limitation, for example:

(A) Federal tax returns;

(B) Banking, investment, or other financial statements;

(C) Deeds of trust or other property records;

(D) A financial manager's or auditor's certified statement of the candidate's financial holdings; or

(E) Other independently verifiable documentary evidence; or

(2) A signed affirmation under penalty of perjury from the candidate attesting that the allegation of inaccuracy or incompleteness is not true and the substance of the personal financial disclosure, including amendments, is complete and accurate.

(d) If there is evidence of willful behavior outlined in section 24-6-202(7), C.R.S., such complaint may be referred to the applicable law enforcement without prejudice to the division's concurrent investigation of the matter and the pursuit of civil or administrative penalties independent of any criminal sanction.

(e) If a person subject to a complaint related to a personal financial disclosure under section 1-45-110(2), C.R.S., meets the criteria of section 1-45-110(5), C.R.S., and is defeated or withdraws from the candidacy, that person will not be required to file, supplement, or correct a personal financial disclosure after the election but may still be subject to a complaint and potential monetary penalty.

8 CCR 1505-6-2

38 CR 13, July 10, 2015, effective 7/30/2015

38 CR 22, November 25, 2015, effective 12/15/2015

39 CR 17, September 10, 2016, effective 9/30/2016

40 CR 22, November 25, 2017, effective 12/15/2017

41 CR 15, August 10, 2018, effective 8/30/2018

41 CR 21, November 10, 2018, effective 11/30/2018

42 CR 01, January 10, 2019, effective 1/30/2019

43 CR 17, September 10, 2020, effective 9/30/2020

45 CR 20, October 25, 2022, effective 11/14/2022

46 CR 06, March 25, 2023, effective 2/15/2023

46 CR 10, May 25, 2023, effective 4/13/2023

46 CR 09, May 10, 2023, effective 5/30/2023

46 CR 18, September 25, 2023, effective 10/15/2023

47 CR 20, October 25, 2024, effective 11/14/2024