Colorado Regulations § 8 CCR 1505-6-2 Candidates and Candidate Committees
Regulation Text
2.1
Standalone candidates
2.1.1
A standalone candidate need not register a candidate committee.
2.1.2
A standalone candidate must file disclosure reports for all reporting periods in which he or she makes expenditures. [Sections
1-45-108
and
1-45-109
, C.R.S.]
2.2
Candidate committees
2.2.1
A candidate may serve as the candidate committee's registered agent or appoint another natural person to be the registered agent. Only the registered agent, the designated filing agent, or the candidate may file the contribution and expenditure report.
2.2.2
Once assigned a candidate committee must follow the frequent filing schedule for the remainder of the year, except as outlined in Rule 17.5.
2.2.3
A candidate committee may accept the contribution limit specified in Colo. Const. Article XXVIII, Section 3(1) and section
1-45-103.7
(1.5), C.R.S. for the primary election even if the primary election is canceled under section
1-4-104.5
(1)
, C.R.S. or the candidate is running unopposed.
2.2.4
Managing unexpended campaign contributions
(a)
A candidate committee's ending balance on the report filed 35 days after the major election must reflect the committee's unexpended balance and that total is reported as the beginning balance on the first report due in the next election cycle. The candidate committee's beginning balance must reflect what amount is retained for use in a subsequent election cycle and what amount is retained for use as unexpended funds.
(b)
Candidates seeking re-election to the same office
(1)
A candidate committee may retain contributions to use in a subsequent election cycle for the same public office, in an amount not to exceed the political party contribution limit in Colo. Const. Article XXVIII, Section 3(3) and section
1-45-103.7
(1.5)(a)(III), C.R.S. (as adjusted by Rule 10.17).
(2)
If a candidate committee retains contributions to use in a subsequent election cycle for the same office, the amount retained counts toward the limit on contributions from a political party.
(3)
If a candidate committee retains contributions from a prior election cycle in excess of the political party contribution limit, the candidate committee may not use those funds for any subsequent election cycle but may retain them for use in accordance with section
1-45-106
(1)(b)
, C.R.S., if applicable. The committee may also contribute the funds to a political party, donate the funds to a charitable organization recognized by the Internal Revenue Service, or return the funds to contributors.
(c)
Candidates seeking election to a different office
(1)
A candidate committee may transfer funds to a new candidate committee established by the same candidate for a different public office, subject to the political party contribution limit for the prior office sought. [Colo. Const. Article XXVIII, Section 3, and section
1-45-103.7
(12)(b)
, C.R.S.]
(A)
Funds held in excess of the party limit must be disbursed before the new election cycle in accordance with section
1-45-106
(5)
, C.R.S., and cannot be rolled over.
(B)
Funds previously designated as unexpended funds from a prior election cycle cannot be transferred to the new committee and must be disbursed as specified in section
1-45-106
(1)(a) and (b)
, C.R.S.
(2)
Contributions from persons or committees made to the prior candidate committee do not apply toward the contribution limits for the new candidate committee.
(3)
A candidate committee transferring funds to a candidate committee for a different office must terminate within ten days of registering the new candidate committee.
(4)
A candidate seeking election to a state, county, or local office may not transfer funds from a federal candidate committee to a Colorado candidate committee that is subject to the provisions of the Fair Campaign Practices Act.
(d)
Funds rolled over, up to the political party limit of a new candidate committee, from a candidate's prior candidate committee will have the effect of offsetting how much the candidate may receive in party contributions during that election cycle by the amount of the rollover.
2.2.5
Disposition of debt in anticipation of committee termination
(a)
A candidate committee must report all contributions received during the election cycle and those contributions are subject to the contribution limit, regardless of debt carried over from a prior election cycle.
(b)
Financial obligations incurred by a candidate committee in an election cycle that are not paid within a commercially reasonable period of time, not to exceed one year after the close of that election cycle, are "contributions" from the person extending credit.
2.3
Candidate affidavits. A candidate required to file with the Secretary of State must file a candidate affidavit electronically using the Secretary of State's online campaign finance filing system. [Sections
1-45-110
(1)
and
24-21-111
, C.R.S.]
2.4
Personal financial disclosures
2.4.1
Filing of personal financial disclosures
(a)
A candidate need not file a new personal financial disclosure statement if the candidate filed either a full or amended disclosure statement less than 90 days before filing a candidate affidavit. [Section
1-45-110
(2)(a) and (b)
, C.R.S.]
(b)
An amended or updated disclosure statement satisfies the full disclosure statement requirement if all required amended statements have been filed since the filing of the full disclosure statement. [Sections
1-45-110
and
24-6-202
, C.R.S.]
(c)
If a candidate withdraws his or her candidacy by submitting appropriate documentation before filing the disclosure statement required in section
1-45-110
(2)(a)
, C.R.S., the candidate need not file a disclosure statement. Any delinquent filing fines that the candidate accrued before withdrawing may be waived by the appropriate filing office.
(d)
All personal financial disclosure filings required under sections
1-45-110
and
24-6-202
, C.R.S., must be filed electronically by 11:59 p.m. MT on the date due and will be publicly available online.
(e)
Incumbents seeking re-election need not file a new personal financial disclosure statement if they have already filed their annual personal financial disclosure statement. [Section
24-6-202
(4)(b)
, C.R.S.]
2.4.2
Failure to file
(a)
If a complaint is filed alleging that the personal financial disclosure was incomplete, inaccurate, or not updated, the division may consider the following responses from the candidate or incumbent, without limitation, in determining whether the personal financial disclosure, amendment, or update meets statutory requirements:
(1)
Documentation refuting the allegation of inaccuracy or incompleteness, including without limitation, for example:
(A)
Federal tax returns;
(B)
Banking, investment, or other financial statements;
(C)
Deeds of trust or other property records;
(D)
A financial manager's or auditor's certified statement of the candidate's or incumbent's financial holdings; or
(E)
Other independently verifiable documentary evidence; or
(2)
A signed affirmation under penalty of perjury from the candidate or incumbent attesting that the allegation of inaccuracy or incompleteness is not true and the substance of the personal financial disclosure, including amendments and annual update, is complete and accurate.
(b)
If there is evidence of willful behavior outlined in section
24-6-202
(7)
, C.R.S., such complaint may be referred to the applicable law enforcement without prejudice to the division's concurrent investigation of the matter and the pursuit of civil or administrative penalties independent of any criminal sanction.
(c)
If a person subject to a complaint related to a personal financial disclosure under section
1-45-110
(2)
, C.R.S., meets the criteria of section
1-45-110
(5)
, C.R.S., and is defeated or withdraws from the candidacy, that person will not be required to file, supplement, or correct a personal financial disclosure after the election but may still be subject to a complaint and potential monetary penalty.
2.5
For special district candidates and committees, election cycle means the period of time beginning thirty-one days following the special district election for the particular office and ending thirty days following the next special district election for that office.
History