Existing law requires every committee for political action to, not later than 1 week after receiving contributions the sum of which, in the aggregate is $1,000 or more, open and maintain a separate account in a financial institution located in the United States for the deposit of any contributions received. (NRS 294A.130) Section 1 of this bill authorizes a committee for political action to use money in the account for certain purposes. Section 2 of this bill revises the definition of a “committee for political action” to exclude from the definition any nonprofit organization or nonprofit corporation duly organized under federal law or under the laws of this State, any other state, the District of Columbia or any territory of the United States. Existing law governs the disposition of unspent campaign contributions by a candidate or former public officer. Under existing law, a candidate who is elected to office may use unspent contributions in the candidate's next election, but a candidate who is defeated is required to dispose of unspent contributions. (NRS 294A.160) Section 3 of this bill authorizes a candidate who is defeated to use unspent contributions in the candidate's next election. If, within 4 years, such a candidate doesn't file a declaration of candidacy or appear on an official ballot at any election, section 3 requires the defeated candidate to dispose of unspent contributions. Existing law authorizes certain former public officers who resigned or did not run for reelection to use unspent contributions in a future election. In such a circumstance, existing law requires such unspent contributions to be disposed of within 4 years if the former public officer does not file a declaration of candidacy or appear on the ballot. (NRS 294A.160) Section 3 of this bill instead requires any former public officer to dispose of unspent contributions not later than the 15th day of the second month after leaving office.

Statutes affected:
As Introduced: 294A.0055, 294A.160
BDR: 294A.0055, 294A.160