R 168.368 Transfer of funds; federal candidate committee to state or local candidate committee of the same candidate.

Rule 18. (1) Transfers from a federal candidate committee to a state or local candidate committee of the same candidate are contributions, and unexpended funds may be transferred if all of the following apply: (a) Federal law and rules allow for the transfer. (b) The contribution limits for the state or local candidate committee receiving the funds are equal to or greater than the contribution limits for the federal candidate committee transferring the funds. (c) The funds coming from the federal candidate committee have been raised in compliance with the act. This means that if the federal committee has received prohibited funds, such as non-affirmative consent funds or corporate funds, those contributions must be segregated by a reasonable accounting method and are not eligible to be transferred to the state or local candidate committee. (2) The transferring federal candidate committee shall report the transfer of funds as required by federal law. The recipient state or local candidate committee shall report the transferred funds as follows: (a) If the funds were raised by the federal candidate committee after the candidate formed or was required to have formed a new candidate committee to run for state or local office and therefore required to be itemized, the committee shall report receipt of the transferred funds by attributing each of the original contributors, the amount from each person, and the date of the transfer as the date of the contribution on the designated schedule. A letter must be submitted with the campaign statement detailing which contributions have been transferred and showing the original contribution dates reported in the transferring committee’s campaign statements. An attached document or file, such as an Excel spreadsheet, can be used to provide this information. (b) If the funds are not required to be itemized and attributed to a specific contributor, the state or local candidate committee reports receipt of the transferred amount as a lump sum on the designated schedule. The source of the other receipt must be reported as the transferring committee and the type of receipt must be indicated as “Other: transfer of unexpended funds” with the date and amount of the transfer.