MUR 5648: Millionaires’ amendment reporting

On July 19, 2006, the Commission announced a conciliation agreement with J. Edgar Broyhill, II, the Broyhill for Congress committee and its treasurer Tim Nerhood (the respondents) in which they agreed to pay a $71,000 civil penalty for violating the reporting requirements of the Millionaires’ Amendment.

Background

Under the Millionaires’ Amendment, House candidates must notify the FEC and their opponents within 24 hours after they exceed the $350,000 personal spending threshold and with each additional $10,000 in personal spending thereafter. Depending on the opposing candidate’s own fundraising and personal spending, he or she may become eligible for increased contribution limits. The respondents failed to file a required notification within 24 hours of Mr. Broyhill making a personal loan that pushed his personal spending over the $350,000 threshold for the primary election. Subsequently, they also failed to file notifications within 24 hours of additional expenditures of personal funds totaling $365,000.