Texas § GV.302.0201 - DISPOSITION OF UNEXPENDED FUNDS

§ GV.302.0201. DISPOSITION OF UNEXPENDED FUNDS

DISPOSITION OF UNEXPENDED FUNDS; REPORT. (a) A former speaker candidate may: (1) use unexpended campaign funds to retire debt incurred in connection with the speaker candidacy; or (2) remit unexpended campaign funds to one or more of the following: (A) one or more persons from whom campaign funds were received, in accordance with Subsection (c); or (B) a recognized charitable organization formed for educational, religious, or scientific purposes that is exempt from taxation under Section 501(c)(3), Internal Revenue Code of 1986, and its subsequent amendments. (b) A former speaker candidate may not retain contributions covered by this subchapter, assets purchased with the contributions, or interest and other income earned on the contributions for more than six years after the date the person ceases to be a speaker candidate or hold the office of speaker. (c) The amount of campaign funds disposed of under Subsection (a)(2)(A) to one person may not exceed the aggregate amount accepted from that person in connection with the former speaker candidate's most recent campaign for election to the office of speaker. (d) Not later than January 15 of each year, a former speaker candidate who retains unexpended campaign funds shall file a sworn report with the Texas Ethics Commission that includes: (1) the full name and address of each person to whom a payment from unexpended campaign funds is made; (2) the date and amount of each payment reported under Subdivision (1); and (3) the information required by Section 302.014 as to any contribution, loan, or expenditure not previously reported on a statement filed under Section 302.013 . (e) A report filed under this section covers, as applicable: (1) the period: (A) beginning on the date after the last day of the period covered by the most recent statement filed by the former speaker candidate under Section 302.013 ; and (B) ending on December 31 of the preceding year; or (2) the preceding calendar year. (f) A former speaker candidate shall file the report on an official form designed by the Texas Ethics Commission. Sections 302.015 and 302.016 apply to a report filed under this section. (g) For purposes of this section, a speaker candidate elected as speaker of the house of representatives is considered to be a former speaker candidate. Added by Acts 2003, 78th Leg., ch. 249, Sec. 3.04, eff. Sept. 1, 2003.