Recording receipts for a party committee

Time limits

Any person who receives contributions on behalf of a party committee must forward the contributions, along with appropriate recordkeeping information about the contributors, to the committee treasurer within the following time periods:

• Contributions of $50 or less—within 30 days after receiving the funds;
• Contributions of more than $50—within 10 days after receiving the funds.

No commingling with personal funds

Contributions and other committee receipts must not be deposited in a personal account or otherwise commingled with personal funds.

Contributions aggregating over $200

Records must additionally identify the occupation and employer of an individual contributor whose contributions exceeds $200 or aggregates over $200 when added to previous contributions made during the calendar year.

Contributions over $50

In addition to any other recordkeeping requirements, political committees must maintain a record of each contribution received. A record of a contribution by check or written instrument must contain an image of that instrument. A record of the receipt of a contribution must include sufficient information to associate that contribution with its deposit in the political committee’s campaign depository, such as, for example, a batch number.

Small contributions collected at fundraising event

When a committee receives a large number of contributions of $50 or less at a fundraising event, records need identify only the name of the event and the total amount received on each day of the event. These amounts are reported under the category “unitemized contributions from individuals.”

Small contributions collected through tax checkoff

When a committee receives small contributions in the form of state tax checkoff funds, records on individual contributors are not required. The contributions are reported as “unitemized contributions from individuals.” However, the committee must keep a record of the state government source, the date of receipt and the amount received.

Contributions through online banking services

When a committee receives a contribution from a contributor who used an online banking service to issue a physical check bearing the signature of an authorized bank official, the treasurer is not required to send a follow-up letter to obtain the contributor's written signature. However, when the check does not include all of the necessary contributor information and the treasurer does not have accurate and up-to-date contributor information on file for the individual on whose account the check is drawn, the treasurer must use "best efforts" to obtain such information. In addition, when such a check is drawn on a joint account and it is not clear which account holder is making the contribution, the committee must contact the account holders to determine their intent. However, if there is only one way to attribute the contribution consistent with the source prohibitions and amount limitations of the Act, the committee may attribute the contribution by following the rules for presumptive reattributions.

Contributions by text message

Recipient committees, not wireless providers, are solely responsible for ensuring that contributions sent by text messages are lawful under the Act and Commission regulations. Committees should work with the text messaging application provider to collect the name, address, occupation and employer of individuals making contributions that aggregate over $200 in a calendar year. Committees must return or refund any contribution that comes from a prohibited source.

Bitcoin

The Commission has determined that contributions of bitcoins are “money or anything of value” within the meaning of the Act. The value of bitcoin contributions is based on the market value of bitcoins at the time the contribution is received. To determine the market value, the committee should first rely on any contemporaneous determination provided by the entity that processes the bitcoin contribution. If the processor provides an exchange rate for the transaction in question, then the committee should use this rate to value the contribution. If, however, the contribution is made through an entity that does not provide an exchange rate for that contribution (or if no processor is involved in the transaction), then the recipient committee may value the contribution using another reasonable exchange rate of bitcoins for dollars.

Joint fundraiser contributions

With regard to gross proceeds, the joint fundraising representative must collect the following contributor information and later forward it to the participating political committees:

• For contributions exceeding $50, the amount, date of receipt and the contributor's name and address.
• For contributions exceeding $200, the amount, date of receipt and the contributor's name, address, occupation and employer.

Reattributed contributions

For each reattributed contribution (other than a contribution that has been presumptively reattributed), a committee must keep a copy of the written reattribution signed by each contributor as well as documentation verifying that the reattribution was received within 60 days after the committee’s receipt of the original contribution. For each contribution that has been presumptively retributed, a committee must keep a copy of its written notification to the contributor verifying that it provided the notification within 60 days after the committee’s receipt of the original contribution. If these records are not kept, the reattribution is not effective.

A contribution’s date of receipt is the date on which the person receiving the contribution on behalf of the committee obtains possession of it. That is the date used for recordkeeping and reporting.

The date of receipt may be earlier than the date the committee treasurer receives the money, since a person collecting contributions (other than an authorized agent) has 10 days (or 30 days for contributions of $50 or less) in which to forward them to the treasurer.

Electronic contributions

When the committee receives electronic contributions via credit card or another electronic payment platform, the date of receipt is the date on which the committee obtains the contributor's authorization of the transaction. The treasurer should retain a record of the receipt that includes sufficient information associating that contribution with its deposit in the political committee's depository, such as a batch number.

Contributions sent by text message

The date of receipt for contributions sent by text message is the date the contributor "opts-in," or confirms their intention to make the contribution and certifies their eligibility.

In-kind contributions

The date of receipt for an in-kind contribution is the date the goods or services are provided to the committee, even if the contributor pays the bill for the goods or services after they are provided.

Deposit of receipts

The committee treasurer (or authorized agent) must deposit a contribution or other receipt in the committee's designated campaign depository or return it to the contributor within 10 days of receipt.

A committee must keep a written record noting the basis for concern for each deposited contribution that:

• Requires a written reattribution from the contributor; or
• Requires confirmation that it is not from a prohibited source.

Joint fundraiser contributions: The joint fundraising representative must also keep a record of the total amount of prohibited contributions received, if any, and of any transfers containing prohibited funds made to participants that may accept them.

Documenting a contribution’s legality

In order to determine whether a contribution of questionable legality that has been deposited in a committee's campaign depository is permissible, the treasurer must make at least one written or oral request for evidence of the contribution’s legality. If the contribution cannot be determined to be legal, the treasurer must refund the contribution within 30 days of receipt.