Current through Register Vol. XLI, No. 50, December 13, 2024
Section 146-3-7 - Disposing of Excess Campaign Assets, Terminating a Political Committee7.1. Excess campaign assets are those monies, materials, equipment or other things of value derived from contributions which:7.1.1. Remain in the possession of the pre-candidate or pre-candidate's committee at the conclusion of pre-candidacy when the pre-candidate decides not to become a candidate;7.1.2. Remain in the possession of the candidate or candidate's committee after the candidate loses in the primary election or after the candidate's general election and after debts, loans and other liabilities are repaid; or7.1.3. Belong to a political committee which wishes to discontinue activity and dissolve.7.2. Excess campaign assets may be lawfully: 7.2.1. Transferred without limitation from a candidate's committee organized for one election year to the same candidate's committee for a subsequent election year, providing that candidate has filed a pre-candidacy statement or a statement of organization of the new committee before the transfer is made;7.2.2. Contributed by a candidate's committee, in accordance with the existing limitations on contributions, to;7.2.2.a. A county or political subdivision executive committee of a political party, or7.2.2.b. Any other candidate committee;7.2.3. Returned on a pro-rata basis to each contributor;7.2.4. Subject to Internal Revenue Service regulations relating to personal income, used by the candidate to defray any usual and customary expenses incurred in connection with his or her duties as a holder of public office;7.2.5. Contributed to any charitable organization without limitation;7.2.6. Transferred to any state party executive committee or political party caucus campaign committee, in an amount not to exceed $15,000 dollars in a calendar year; or7.2.7. Contributed to any national, state, or local political party committee when that committee is acting in the role of a vendor, and, so long as no such transfer may involve any coordination between the candidate and the political party committee without being considered as a contribution.7.2.8. Candidates that possess funds received for the general election prior to nomination and fail to receive the nomination for the General Election ballot from that party shall unconditionally return all the contributions attributed to the General Election to the contributors at the amounts equal to the contribution received.7.3. No person may receive or utilize excess campaign assets for personal economic benefit or use.7.3.1. Subject to Subsection 7.2.4. of this Rule, supplies or equipment purchased by an office holder and used to defray any usual and customary expenses incurred in connection with his or her duties as a holder of public office becomes the property of the state, or the district, county, or municipality in which the office is held.7.4. No candidate, financial agent or treasurer may distribute excess campaign assets through personal gifts, promotional items or other expenditures not authorized by W. Va. Code §§ 3-8-10 or 3-8-9(a)(13).7.5. A political committee which is solvent and has no outstanding debts or obligations may terminate its existence by: 7.5.1. Filing a statement of dissolution with the Secretary of State, if the political committee was formed in support of a candidate for nomination or election to any office to be filled by voters of the entire state, or a candidate for nomination or election for any office encompassing an election district larger than a county, and filing a final report of financial information required in W. Va. Code § 3-8-5.7.5.2. Filing a statement of dissolution with the county clerk or municipal clerk or recorder, or other such election officer as defined in State Election Commission, Regulation of Campaign Finance, 146 CSR 3, as may be determined proper by the Secretary of State, if the political committee was formed in support of a candidate for nomination or election to any office to be filled by voters of a county or district therein, encompassing the electorate of a county or district therein; and,7.5.3. Stating within the written request that the political committee will no longer receive any contributions or make any disbursements; and,7.5.4. Stating within the written request that the political committee has no outstanding debts or obligations; and,7.5.5. Stating within the written request that any excess funds of the political committee will be transferred to a political committee established by the same candidate, or will be otherwise disbursed pursuant to Section 7.2 of this Rule.7.6. The Secretary of State's Office may, upon the request of the committee, make determinations as to the solvency or insolvency of a political committee, including: 7.6.1. The orderly liquidation of an insolvent political committee;7.6.2. The orderly application of the assets of an insolvent political committee toward reduction of its outstanding debts;7.6.3. The assessment of any forgiven debts as being political contributions; and,7.6.4. The termination of an insolvent political committee after the liquidation and application of assets.