[Code of Federal Regulations]
[Title 11, Volume 1]
[Revised as of January 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 11CFR113.2]

[Page 162-163]
 
                       TITLE 11--FEDERAL ELECTIONS
 
                 CHAPTER I--FEDERAL ELECTION COMMISSION
 
PART 113--EXCESS CAMPAIGN FUNDS AND FUNDS DONATED TO SUPPORT FEDERAL OFFICEHOLDER ACTIVITIES (2 U.S.C. 439a)--Table of Contents
 
Sec. 113.2  Use of funds (2 U.S.C. 439a).

    Excess campaign funds and funds donated:
    (a) May be used to defray any ordinary and necessary expenses 
incurred in connection with the recipient's duties as a holder of 
Federal office, if applicable, including:
    (1) The costs of travel by the recipient Federal officeholder and an 
accompanying spouse to participate in a function directly connected to 
bona fide official responsibilities, such as a fact-finding meeting or 
an event at which the officeholder's services are provided through a 
speech or appearance in an official capacity; and
    (2) The costs of winding down the office of a former Federal 
officeholder for a period of 6 months after he or she leaves office; or
    (b) May be contributed to any organization described in section 
170(c) of Title 26, of the United States Code; or
    (c) May be transferred without limitation to any national, State, or 
local committee of any political party; or
    (d) May be used for any other lawful purpose, except that, other 
than as set forth in paragraph (e) of this section, no such amounts may 
be converted by any person to any personal use, other than: To defray 
any ordinary and necessary expenses incurred in connection with his or 
her duties as a holder of Federal office, or to repay to a candidate any 
loan the proceeds of which were used in connection with his or her 
campaign.
    (e)(1) Except as limited by paragraph (e)(5) of this section, a 
qualified Member who serves in the 102d or an earlier Congress may 
convert to personal use no more than the unobligated balance of excess 
funds as of November 30, 1989. This unobligated balance shall be 
calculated under either paragraph (e)(1) (i) or (ii) of this section.
    (i) Cash assets. The Member may convert any excess campaign or 
donated funds in an amount up to the Member's authorized committee(s)' 
cash on hand, determined under 11 CFR 104.3(a)(1), as of November 30, 
1989, less the committee(s)' total outstanding debts as of that date.
    (ii) Cash Plus Nonliquid Assets. (A) The Member may convert 
unliquidated committee assets held by his or her authorized committee(s) 
on November 30, 1989; or the value of such assets may be added to the 
value of the committee(s)' cash assets under paragraph (e)(1)(i) of this 
section to determine the amount which is eligible for conversion. In 
either case, prior to conversion, the committee shall amend its 1989 
year end reports to indicate, as memo entries to Schedule A, the assets 
to be converted. These amendments shall list each asset, give its date 
of acquisition, its fair market value as of November 30, 1989, and a 
brief narrative description of how this value was ascertained. The 
committee shall also disclose the disposition made of each such asset, 
including its fair market value on the date of sale or other 
disposition, in its termination report, unless the asset was sold or 
otherwise disposed of during an earlier period and included in the 
report covering that period.
    (B) The Member may add the value of debts and loans reported as owed 
to the Member's authorized committee(s) as of November 30, 1989, and 
itemized on the committee(s)' year end reports for 1989, to the 
unobligated balance, provided that such receivables are actually 
collected by the committee(s) prior to their termination.
    (C) The Member may add to the unobligated balance the value of 
vendor credits and deposit refunds to which authorized campaign 
committee(s) are entitled, if these receivables are itemized on Schedule 
C or D of the committee(s)' 1989 year end reports or in amendment(s) 
thereto.
    (2) If the unobligated balance subsequently falls below its November 
30, 1989, level, a qualified Member may use contributions lawfully 
received or

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other lawful committee income received after that date to restore the 
account up to that level.
    (3) A qualified Member may convert committee assets which were not 
held on November 30, 1989, to personal use; however, the fair market 
value of such assets at the time of conversion shall be counted against 
the unobligated balance.
    (4) Under no circumstances may an amount greater than the 
unobligated balance on November 30, 1989, be converted to personal use. 
Should money from subsequent contributions, other committee income, and/
or the sale of campaign assets exceed the amount needed to restore the 
unobligated balance to its November 30, 1989, level, such additional 
funds shall not be converted to personal use but may be used for the 
purposes set forth in paragraphs (a), (b), and (c) of this section.
    (5) 103d Congress or later Congress: A qualified Member who serves 
in the 103d Congress or a later Congress may not convert to personal use 
any excess campaign or donated funds, as of the first day of such 
service.
    (f) Nothing in this section modifies or supersedes other Federal 
statutory restrictions or relevant State laws which may apply to the use 
of excess campaign or donated funds by candidates or Federal 
officeholders.

[45 FR 15124, Mar. 7, 1980, as amended at 56 FR 34126, July 25, 1991; 60 
FR 7875, Feb. 9, 1995]