7 CAR § 3-127 – Remaining campaign funds

(a) In ascertaining the amount of remaining campaign funds, as defined in 7 CAR § 3-101(25), the candidate shall take the total of all cash on hand (currency), balances on deposit in any bank or other depository institution, money orders, checks, traveler's checks or cash equivalents, certificates of deposit, treasury bills, and any other investment by the candidate or his or her committee valued at fair market value with the total amounts owed to the candidate or his or her committee in the form of credits, refunds or returns, or receivables and subtract therefrom the sum of the total amount of unpaid debts and obligations incurred with respect to the election.
(b)
1. (1) A candidate who has remaining campaign funds, as defined in 7 CAR § 3-101(25), not otherwise obligated for the payment of campaign expenses incurred shall disclose on the final report filed following the general election how such remaining funds were distributed.
2. (2) A candidate may turn over remaining campaign funds to either:
  1. (A) The Treasurer of State for the benefit of the General Revenue Fund Account of the State Apportionment Fund;
  2. (B) A political party as defined in Arkansas Code § 7‑1‑101 or a political party caucus of the:
(i) General Assembly;
1. (ii) Senate; or
  1. (iii) House of Representatives;
  2. (C) A nonprofit organization that is exempt from taxation under 26 U.S.C. § 501(c)(3) of the Internal Revenue Code;
  3. (D) Cities of the first class, cities of the second class, or incorporated towns; or
  4. (E) The contributors to the candidate's campaign, provided that no contributor may receive more than the amount contributed by such contributor for that election.
    1. (c)
2. (1) Notwithstanding the provisions of subdivision (b)(2) of this section, the candidate may elect to retain remaining campaign funds.
3. (2) If funds are retained pursuant to this section, they may be used as provided for in 7 CAR § 3-128.
  1. (d) Remaining campaign funds given to a political party caucus shall:
4. (1) Be segregated in an account separate from other caucus funds; and
5. (2) Not be used by the political party caucus to make a campaign contribution or to provide any personal income to any candidate who donated campaign funds or remaining campaign funds.
(e) If a candidate loses an election or if an officeholder is no longer in office and has campaign funds remaining, personal use of remaining campaign funds remains prohibited by this section unless the expenses relate to a future candidacy and shall comply with 7 CAR § 3-109.