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      FEC Record: Compliance
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      MUR 5888: Failure to file timely under Millionaires' amendment

FEC Record: ComplianceMUR 5888: Failure to file timely under Millionaires' amendmentFebruary 1, 2008 John Reeves Raese, a Senate candidate from West Virginia in 2006, and his campaign committee, Raese for Senate Committee, have agreed to pay a $74,500 civil penalty for failing to file timely and accurate disclosure reports required for candidates who spend significant personal funds in their campaigns under the provisions of the "Millionaires' Amendment." Under the Federal Election Campaign Act (the Act) and FEC regulations, a 2006 Senate candidate in West Virginia who spent personal funds in excess of $414,720 was required to file certain notifications within 24 hours with the Commission, the Secretary of the Senate and each candidate in the same election. Thereafter, the candidate and committee were required to file an additional report each time the candidate spent more than $10,000 in additional personal funds. The Act requires that candidates ensure that their principal campaign committees file all reports required by these provisions in a timely manner. Between January 31, 2006, and April 11, 2006, Mr. Raese expended $355,000 in personal funds for his campaign. On April 19, 2006, Mr. Raese made a $70,000 loan to the Committee, increasing his total personal expenditures to $425,000. Having exceeded the $414,720 threshold, the Committee and candidate were required to file FEC Form 10 within 24 hours with the Commission and with Mr. Raese's opponents. On April 27, 2006, Mr. Raese made an additional $100,000 loan to the Committee and failed to file a Form 10 within 24 hours. On May 3, 2006, Mr. Raese made an $80,000 loan to the Committee and filed his first FEC Form 10 disclosing the April 19, April 27 and May 3 loans. The notification was thirteen days late with respect to the April 19 loan and five days late with respect to the April 27 loan. In the conciliation agreement, Mr. Raese and Raese for Senate admit to the violations discussed above and agree to pay a $74,500 civil penalty within 30 days and to cease and desist from committing any such future violations.
 Author
          Amy Kort


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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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