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Federal Election Commission | United States of America

Assigning debts to another committee

To expedite termination, an authorized committee that qualifies as a terminating committee and has no remaining cash on hand may assign its debts to another authorized committee of the same candidate, provided that:

  • The committee transferring the debts was organized for an election that has already been held;
  • Within 30 days before the assignment takes effect, the transferring committee notifies each creditor in writing of the name and address of the committee assuming the debts; and
  • The committee assuming the debts notifies the FEC in writing that it has assumed the obligation to pay the debts. That committee must continue to report the debts until they are retired.

However, if either committee is an authorized committee of a presidential candidate receiving public funding, the assignment may not take place until after the audit, repayment and enforcement processes have ended.

The committee transferring the debts should report this to the FEC using memo text on the termination report or on a Form 99.

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Legal citations

Regulations

11 CFR 116.2(c)(3)
Assumption of debts owed by terminating committee

Advisory opinions

AO 1989-22
Campaign may use funds raised for a current cycle to retire debts assumed from a committee for a previous cycle

AO 1980-143
Campaign debts from a previous campaign committee may be assumed by the current committee

This information is not intended to replace the law or to change its meaning, nor does this information create or confer any rights for or on any person or bind the Federal Election Commission or the public.

The reader is encouraged also to consult the Federal Election Campaign Act of 1971, as amended (52 U.S.C. 30101 et seq.), Commission regulations (Title 11 of the Code of Federal Regulations), Commission advisory opinions and applicable court decisions.