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        Handling candidate loans, debts and advances
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      Raising contributions to retire debts

Raising contributions to retire debts If a committee has net debts outstanding after an election is over, a campaign may accept contributions after the election to retire the debts provided that: The contribution is designatedfor that election (since an undesignated contributionmade after an election counts toward the limit for the candidate’supcoming election, unless the campaign requests its redesignation);The contribution does not exceed the contributor’s limit for the designated election; andThe campaign has net debts outstandingfor the designated election on the day it receives the contribution. How to calculate net debts outstanding A campaign’s net debts outstanding consist of unpaid debts incurred with respect to the particular election minus the sum of cash on hand and the total amounts owed to the campaign. Unpaid debts Unpaid debts include the following: All outstanding debts and obligations,The estimated cost of raising funds to liquidate the debts, andIf the campaign is terminating, estimated winding down costs (for example, office rental, staff salaries and office supplies). Cash on hand and amounts owed to the campaign Cash on hand consists of the resources available to pay the campaign’s total debts, including currency, deposited funds, traveler’s checks, certificates of deposit, treasury bills and any other investments valued at fair market value. For the purpose of calculating net debts outstanding for the primary, cash-on-hand need not include contributions designated for the general. Amounts owed to the campaign includes credits, refunds of deposits, returns and receivables or a commercially reasonable estimate of the collectible amount. Adjustment to net debts total A campaign first calculates its net debts outstanding as of the day of the election. Thereafter, the campaign continually recalculates its total net debts outstanding as additional funds are received for, or spent on, the election for which the debt remains. Contributions exceeding net debts If, on the same day, a campaign receives several contributions made after the election that, together, exceed the amount needed to retire its debts, the campaign may: Accept a proportionate amount of each contribution and either refund the remaining amount or ask contributors to redesignate the excessive portions for another election; orAccept some contributions in full and either return or refund the others or seek redesignations or reattributions for them.
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          Taking in receipts From the FEC Record Campaign debt
 Need help? Get help from the FEC by phone or email
 Legal citations Regulations 11 CFR 110.1(b)(3)Contributions to candidates; designations; and redesignations
 Explanation and Justification for FEC regulations 11 CFR 110.1(b)(3)(ii)(C)Exclusion of amount of candidate loans exceeding $250,000


This information is not intended to replace the law or to change its meaning, nor does this information create or confer any rights for or on any person or bind the Federal Election Commission or the public. The reader is encouraged also to consult the Federal Election Campaign Act of 1971, as amended (52 U.S.C. 30101 et seq.), Commission regulations (Title 11 of the Code of Federal Regulations), Commission advisory opinions and applicable court decisions.


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