8 CCR 1505-6-10 - Managing Contributions and Expenditures
10.1
Unexpended campaign contributions
10.1.1 For
purposes of section
1-45-106(1),
C.R.S., contributions to a candidate committee become unexpended campaign
contributions at the earliest of the following:
(a) The end of the election cycle;
or
(b) When the candidate withdraws
from the political race and intends to terminate his or her candidate
committee.
10.1.2 For
purposes of section
1-45-106(3),
C.R.S., contributions to an issue committee become unexpended contributions at
the end of the election cycle in which the committee supported or opposed a
ballot measure, or one that attempted access to the ballot. Funds do not become
unexpended contributions if the issue committee supports or opposes, or intends
to support or oppose, another ballot measure or measures.
10.1.3 Unexpended contributions may not be
used for personal purposes except to reimburse a candidate or incumbent for
reasonable and necessary expenses for the care of a child or a dependent as
allowed under sections
1-45-103.7 (6.5) and
1-45-106(1)(b)(VI), C.R.S.
10.2 Except for independent expenditure
committees and small-scale issue committees, committees must report
contributions as follows:
10.2.1 Committees
must individually list all contributions of $20 or more received during a
reporting period, including names and addresses of the contributors. If a
contributor gives $20 or more in the aggregate during the reporting period, the
committee must individually list the contributor on the report, regardless of
the amount of each contribution. [Section
1-45-108(1),
C.R.S.]
10.2.2 A committee may
report all other receipts and contributions less than $20 in total as
non-itemized contributions for the reporting period, except for contributions
from an LLC. A committee must itemize all contributions from an LLC, regardless
of amount. [Section
1-45-103.7(5)(d),
C.R.S.]
10.2.3 Disclosure of
occupation and employer
(a) The requirement
to disclose a contributor's or donor's occupation and employer applies only to
any one-time contribution or donation, and not to the person's aggregate
contributions or donations.
(b)
Except for a committee exercising its right to cure under section
1-45-111.7(4),
C.R.S., if a committee does not report required occupation and employer
information, and the committee is unable to gather the information within 30
days after receipt of the contribution, the committee must return the
contribution to the contributor no later than the 31st day after
receipt.
10.3
Except for independent expenditure committees and small-scale issue committees,
committees must report expenditures as follows:
10.3.1 A committee must list all expenditures
of $20 or more during a reporting period, including the name and address of
payees. The committee may report any disbursement not defined as an expenditure
to the appropriate officer.
10.3.2
A committee must list individual expenditures in amounts less than $20 that
aggregate to total $20 or more to the same payee during the reporting
period.
10.3.3 A committee may
report all other expenditures less than $20 during a reporting period in total
as non-itemized expenditures.
[Section 1-45-108(1), C.R.S.]
10.4 Date
of a contribution or donation.
10.4.1 A
contribution or donation by check or money order is accepted, at the earliest
on the date that it is received or at the latest, on the date that the
contribution or donation is deposited into the committee account. If a
committee receives a donation by check or money order at least five business
days before the end of a reporting period, the committee must deposit the check
or money order or return to the contributor before that reporting period
closes.
10.4.2 A cash contribution
or donation is accepted the date the cash is in the committee's
possession.
10.4.3 A contribution
or donation made by credit card, PayPal, or other payment intermediary service
is accepted on the date the contributor or donor authorizes the payment, or if
unknown, on the date the payment intermediary service electronically transfers
the contribution or donation.
10.4.4 A non-monetary or in-kind contribution
or donation is accepted on the date the committee takes possession of the item,
or has the right to possess or use the item.
10.4.5 For purposes of section
1-45-105.5, C.R.S., concerning
contributions by lobbyists to certain state officers and candidates when
legislation is under consideration, a contribution is accepted when the pledge
is made or possession of the check is transferred to any person not under the
control of the issuer, whichever is sooner.
10.4.6 If a committee accepts a contribution
or donation from a joint account and the contributor or donor is not specified,
the committee may apportion the entire amount to the joint account who signed
the check or determine how to apportion the contribution or donation between
joint account holders. If the committee apportions a contribution or donation
between joint account holders, the committee must notify each joint account
holder of the apportionment.
10.4.7
Any other contribution or donation is accepted on the date its
received.
10.5 A
committee must maintain all financial records for 180 days after any general
election cycle in which the committee received contributions. If a complaint is
filed against the committee, the committee must maintain financial records
until final disposition of the complaint and any consequent litigation. The
committee must maintain covered organization and LLC affirmations for one year
after the end of the election cycle.
10.6 If a committee receives a contribution
in excess of the contribution limit, the committee must return the excess to
the contributor within ten days of receipt or within three days after receiving
notification from the appropriate filing office, whichever is sooner, and will
not be held liable.
10.7 A
committee may accept contributions in cryptocurrency, up to the acceptable
limit for a cash or coin contribution. The amount of the contribution is the
value of the cryptocurrency at the time of the contribution. The committee must
report any gain or loss after the contribution as other income or
receipts.
10.8 Contributions by
anonymous contributor
10.8.1 A committee may
not keep anonymous contributions of $20 or more.
10.8.2 Anonymous contributions are
contributions where the identity of the contributor or other required reporting
information is unknown.
10.8.3 A
committee must donate an anonymous contribution of $20 or more to a charitable
organization recognized by the Internal Revenue Service, or transmit the
contribution to the State Treasurer within 30 days after receipt.
10.9 Reporting contributions and
loans:
10.9.1 If a candidate does not accept
voluntary spending limits, the candidate may make unlimited contributions from
his or her personal funds to his or her candidate committee.
10.9.2 A candidate who accepts voluntary
spending limits may make a loan to his or her candidate committee in any
amount, so long as the unpaid balance of any loan does not exceed the
contribution limit in Colo. Const. Article XXVIII, Sections 3 and 4(2) at any
time.
10.10 If all
candidates who declined voluntary spending limits have withdrawn from the race
or lost in the primary election, a candidate who accepted voluntary spending
limits may not continue to accept contributions double the standard
limits.
10.11 Cost-sharing by
candidates. Each candidate committee that shares the cost of brochures, office
space, or other overhead must pay its proportionate share of the cost within 30
days of the expenditure. The reimbursing committee must report the payment as
an expenditure and the reimbursed committee must report it as a returned
expenditure. A committee need not report discounts resulting from shared
expenses as contributions.
10.12
Reimbursement of expenditures - payments by credit card or payment intermediary
service
10.12.1 A committee must report a
reimbursement of $20 or more and include the purpose, payee, and amount of the
reimbursement.
10.12.2 For the
purpose of reporting, simply disclosing that a payment was made to a credit
card company or a payment intermediary service such as PayPal is not adequate.
The committee must itemize all payments of $20 or more made with a credit card
or through a payment intermediary service, including the name and address of
the original payee, amount, original date of expenditure, and purpose of the
expenditure.
10.12.3 An immediate
reimbursement for committee expenses is not a contribution.
[Section 1-45-108(1)(e), C.R.S.]
10.13
Loans to a candidate committee
10.13.1
Financial institution loans to a candidate committee under Colo. Const. Article
XXVIII, Section 3(8) may not be forgiven.
10.13.2 Candidate loans to his or her
committee
(a) A candidate may make an
interest-free loan to his or her candidate committee. Any foregone interest is
not a contribution to the committee.
(b) A committee must report the interest
repaid for a loan made under Colo. Const. Article XXVIII, Section 3(8) as an
expenditure.
(c) A candidate may
forgive a loan he or she loaned to his or her own committee. The amount of
unpaid debt forgiven by the candidate remains a contribution and is not
considered a returned contribution.
10.14 A committee may deposit committee money
in more than one financial institution. [Colo. Const. Article XXVIII, Section
3(9)]
10.15 Other income
10.15.1 A committee may invest its funds in
any type of account or instrument of a government regulated financial
institution.
10.15.2 A committee
must disclose all interest or dividends earned on its bank account, earned
income from a commercially reasonable transaction, or transfers of money within
a political party as other income on the committee's reports. These other
receipts are not subject to contribution limits.
10.16 Disclosure of contributions by limited
liability companies (LLCs) [Section
1-45-103.7(5), (6), (7), and
(8), C.R.S.]
10.16.1 The affirmation must include the
occupation and employer of any member attributed with contributing $100 or
more.
10.16.2 The affirmation
provided by an LLC under section
1-45-103.7, C.R.S., must include
the name and address of each LLC member, the amount attributed to each member,
and, if more than $100 is attributed to a member, the occupation and employer
of that member. When reporting the contribution, the committee must select the
"LLC" contributor type and include the name and address of the LLC, the name
and address of each member, and the amount attributed to each member.
Attribution is determined by the pro-rata share of ownership.
10.16.3 A committee must return any
contribution received from an LLC that does not comply with the affirmation
requirements in section
1-45-103.7, C.R.S., and this rule
to the contributor within 30 days.
10.16.4 A committee must itemize each
contribution received from an LLC on disclosure reports, regardless of the
dollar amount.
10.16.5 Any
contribution from an LLC counts against contribution limits for both the
individual members to whom the contribution is attributed and the LLC itself.
[Colo. Const. Article XXVIII, Section 3(9)]. An LLC may not make a contribution
that exceeds the limit for a "person" established in Colo. Const. Article
XXVIII, Section 3, as adjusted by Rule 10, regardless of the amount attributed
to each individual member.
10.17 Current adjusted limits
10.17.1 Adjusted limits made in the first
quarter of 2023 and effective until the next adjustment is made in 2027:
(a) There is no adjustment to the
contribution limits on individual donations to small donor committees outlined
in Colo. Const. Article XXVIII, Section 2(14).
(b) The aggregate limits on contributions
from any person for a primary or a general election, described in Colo. Const.
Article XXVIII, Section 3(1), are adjusted as follows:
(1) $725 to any one:
(A) Governor candidate committee for the
primary election, and Governor and Lieutenant Governor candidate committee, as
joint candidates under section
1-1-104, C.R.S., or any successor
section, for the general election;
(B) Secretary of State, State Treasurer, or
Attorney General candidate committee.
(2) $225 to any one State Senate, State House
of Representatives, State Board of Education, Regent of the University of
Colorado, or any District Attorney candidate committee.
(c) The aggregate limits on contributions
from a small donor committee for a primary or a general election, described in
Colo. Const. Article XXVIII, Section 3(2), are adjusted as follows:
(1) $7,825 to any one:
(A) Governor candidate committee for the
primary election, and Governor and Lieutenant Governor candidate committee, as
joint candidates under section
1-1-104, C.R.S., or any successor
section, for the general election;
(B) Secretary of State, State Treasurer, or
Attorney General candidate committee; and
(2) $3,100 to any one State Senate, State
House of Representatives, State Board of Education, Regent of the University of
Colorado, or any District Attorney candidate committee.
(d) The aggregate limits on contributions
from any person to a political party, described in Colo. Const. Article XXVIII,
Section 3(3)(a), are adjusted as follows:
(1)
$4,675 per year at the state, county, district, and local level combined;
and
(2) Of such, no more than
$3,875 at the state level.
(e) The aggregate limits on contributions
from a small donor committee to a political party, described in Colo. Const.
Article XXVIII, Section 3(3)(b), are adjusted as follows:
(1) $23,600 per year at the state, county,
district, and local level combined; and
(2) Of such, no more than $19,650 at the
state level.
(f) The
aggregate limits on pro-rata contributions or dues made to political
committees, described in Colo. Const. Article XXVIII, Section 3(5), are
adjusted to $725 per house of representatives election cycle.
(g) The aggregate limits on contributions to
a county candidate as defined in section
1-45-103.7 (1.5)(a)(I), C.R.S. are
as follows:
(1) $1,425 for a primary or a
general election from any person other than a small donor committee or a
political party;
(2) $14,400 for a
primary or a general election from any small donor committee; and
(3) $25,475 for the election cycle from a
political party.
(h) The
aggregate limits on contributions to candidates for school district director
are as follows:
(1) $2,500 per election cycle
from any person other than a small donor committee; and
(2) $25,000 per election cycle from any small
donor committee.
(i)
This table contains the contribution limits listed in subsections (a)-(h).
|
Recipient: |
Contributor: |
||||
|
Natural Person |
Person, other than a natural person |
Political committee |
Small donor committee |
Political party |
|
|
Political committee |
$725 per election cycle |
$725 per election cycle |
$725 per election cycle |
$725 per election cycle |
$725 per election cycle |
|
Small donor committee |
$50 per year |
Prohibited |
Prohibited |
Prohibited |
Prohibited |
|
Governor (governor & lt. governor) |
$725 per election cycle* |
$725 per election cycle* |
$725 per election cycle* |
$7,825 per election cycle* |
$789,060 per election cycle |
|
Secretary of state, state treasurer, attorney general |
$725 per election cycle* |
$725 per election cycle* |
$725 per election cycle* |
$7,825 per election cycle* |
$157,805 per election cycle |
|
State senate |
$225 per election cycle* |
$225 per election cycle* |
$225 per election cycle* |
$3,100 per election cycle* |
$28,395 per election cycle |
|
State house of representatives, state board of education, regent of the University of Colorado, district attorney |
$225 per election cycle* |
$225 per election cycle* |
$225 per election cycle* |
$3,100 per election cycle* |
$20,500 per election cycle |
|
Political party |
$4,675 ($3,875 at the state level) per year |
$4,675 ($3,875 at the state level) per year |
$4,675 ($3,875 at the state level) per year |
$23,600 ($19,650 at the state level) per year |
Transfers within a party may be made without limitation. |
|
County candidate |
$1,425 per election cycle* |
$1,425 per election cycle* |
$1,425 per election cycle* |
$14,400 per election cycle* |
$25,475 per election cycle |
|
School district director |
$2,500 per election cycle |
$2,500 per election cycle |
$2,500 per election cycle |
$25,000 per election cycle |
$2,500 per election cycle |
* A candidate may accept the contribution limit for both the primary election and the general election.
(j) The voluntary spending limits for a
candidate described in Colo. Const. Article XXVIII, Section 4(1), are adjusted
as follows:
(1) The spending limit for
Governor, and Governor and Lieutenant Governor as joint candidates under
section 1-1-104, C.R.S., or any successor
section is adjusted to $3,945,300.
(2) The spending limit for a candidate for
Secretary of State, Attorney General, or Treasurer is adjusted to
$789,025.
(3) The spending limit
for a candidate for State Senate is adjusted to $141,975.
(4) The spending limit for a candidate for
State House of Representatives, State Board of Education, Regent of the
University of Colorado, or any District Attorney is adjusted to $102,500.
|
Candidate |
Voluntary Spending Limit |
|
Governor, and Governor and Lieutenant Governor as joint candidates |
$3,945,300 |
|
Secretary of State, Attorney General, or State Treasurer |
$789,025 |
|
State senate |
$141,975 |
|
State House of Representatives, State Board of Education, Regent of the University of Colorado, or District Attorney |
$102,500 |
10.18 Major Contributor Reports.
10.18.1 Municipal committees required to file
major contributor reports under section
1-45-108 (2.5), C.R.S. must file
with the municipal clerk.
10.18.2
Small-scale issue committees are not required to file major contributor reports
under section
1-45-108 (2.5), C.R.S.
10.19 Reporting a direct ballot
measure expenditure
10.19.1 The disclosure
report required by section
1-45-108(1)(a)(VI),
C.R.S.
(a) The aggregate of $5,000 in direct
ballot measure expenditures can be met with expenditures of any
amount.
(b) Once a person makes
$5,000 in direct ballot measure expenditures in the aggregate within a calendar
year, each additional expenditure of $1,000 or more must be reported.
(c) A single direct ballot measure
expenditure of less than $1,000 does not need to be reported.
(d) Direct ballot measure expenditure
disclosure reports must be filed within 48 hours of when the direct spending
occurs or when a contractual agreement is made.
(e) Expenditures by an issue committee are
not direct ballot measure expenditures and should be reported in accordance
with Rule 10.3 and section
1-45-108(1),
C.R.S.
(f) Notwithstanding any
other provision of law, a foreign government, foreign corporation, or natural
person who is not a United States citizen may not make a direct ballot measure
expenditure, and a person making a direct ballot measure expenditure may not
knowingly accept funds from a foreign government, foreign corporation, or a
natural person who is not a citizen of the United States for the purpose of
making a direct ballot measure expenditure.
10.19.2 Each direct ballot measure
expenditure disclosure must include:
(a) The
name and address of the payor;
(b)
The name and address of payee;
(c)
The name of the original source of the funds, if the direct ballot measure
expenditure was paid with earmarked funds;
(d) The amount of the direct ballot measure
expenditure;
(e) The date of the
direct ballot measure expenditure;
(f) The purpose for which the direct ballot
measure expenditure was made, including the ballot measure and whether the
direct ballot measure expenditure was in support or opposition of the ballot
measure; and
(g) An affirmation
signed by an authorized representative on a form provided by the Department or
appropriate officer that the filer does not meet the definition of an issue
committee and only used permissible sources for the expenditure.
10.20 Earmarked
contributions
10.20.1 A contribution will be
considered earmarked if it includes or is accompanied by a direction or
instruction which results in all or any part of a contribution or expenditure
being made to, or expended on behalf of, a candidate, committee, or ballot
measure.
10.20.2 Disclosure reports
of earmarked contributions must include the original source of the funds as
well as conduits, funding intermediaries, or other persons involved in the
transaction.
10.20.3 Recipients of
earmarked contributions must disclose the original source of the contribution
and the person who made the contribution.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.