Rule 2.48 - Candidate Committee Surplus FundsSurplus funds of a candidate committee are those funds not otherwise obligated following the election at which the office for which the candidate committee was formed has been determined which, in the candidate's discretion, are not required to be used for campaign expenses or officeholder expenses. Such surplus funds may be:
(A) Retained in any amount for use in a future campaign for the next succeeding term for the same office;(B) Retained for a future campaign for a different state elective office, excluding a judicial office;(C) Donated to a charitable organization as described in Section 501(c)(3) of Title 26 of the United States Code as it currently exists or as it may be amended;(D) Returned to any contributor, as long as the amount returned does not exceed the contributor's aggregate contribution during the immediately preceding primary, runoff primary and general elections;(E) Contributed to a political party committee in any amount not to exceed Twenty-five Thousand Dollars ($25,000.00) in the aggregate;(F) Used to purchase item(s) for donation to a charitable organization as described in Section 501(c)(3) of Title 26 of the United States Code as it currently exists or as it may be amended; provided: (1) the donated item(s) are sold by the charitable organization for fundraising purposes;(2) the purchase of the item(s) for donation is reported on a Contributions and Expenditures Report which includes a description and cost of the item(s) purchased;(3) the donation of the item(s) is reported on a Contributions and Expenditures Report as an in-kind expenditure to the charitable organization which includes a description and the value of the item(s) donated; and(4) the donated item(s) may not be purchased or used by the candidate whose committee is donating the item, any other candidate, a committee, or officer, board member or employee of the charitable organization; or(G) Donated in accordance with the provisions of Section 381 et seq. of Title 60 of the Oklahoma Statutes to the State of Oklahoma, or, to any county, city, town or school district within the State of Oklahoma.Any surplus funds remaining in the candidate committee's possession within ninety (90) days after the expiration of the term to which the candidate was elected or, for candidates who were not elected, within ninety (90) days after the second year following the general election, shall be deposited in the general revenue fund of the state.
Okla. Stat. tit. 74E, § 2.48
Promulgated by Ethics Commission January 10, 2014; effective upon Legislature's sine die adjournment 5/23/2014; operative 1/1/2015.