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  • Tips for Treasurers

Contributions to Retire Debts

November 20, 2006

. Campaigns with net debts outstanding (i.e., more debt than cash on hand) after an election is over may accept contributions to retire the debt. Such contributions must be properly designated (e.g., 2006 general debt) and may not exceed the contributor's limit for the designated election. Click here for an example of a properly reported contribution that was designated to retire debt. Undesignated contributions received by a campaign count towards the limit for the candidate's next election (e.g., the 2008 primary). While those funds could be used to retire debt, a campaign with net debts outstanding may choose to ask the contributor to redesignate the contribution for 2006 general debt retirement, provided that redesignation does not cause the donor to exceed his/her limit for that election. Click here for an example of a properly reported redesignation of a contribution. For more information on the rules for raising money to retire debts, see Chapter 4, pages 20 - 24, in your Campaign Guide. Next week: Filing the Post-General report on time.