Bill Text: NJ A5993 | 2018-2019 | Regular Session | Introduced
Bill Title: Requires candidate committee and joint candidates committee to close campaign depository accounts within one year of leaving public office.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-11-25 - Introduced, Referred to Assembly State and Local Government Committee [A5993 Detail]
Download: New_Jersey-2018-A5993-Introduced.html
Sponsored by:
Assemblyman MICHAEL PATRICK CARROLL
District 25 (Morris and Somerset)
SYNOPSIS
Requires candidate committee and joint candidates committee to close campaign depository accounts within one year of leaving public office.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning the closure of certain campaign depositories and supplementing P.L.1973, c.83 (C.19:44A-1 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. Each candidate, or the candidates comprising a joint candidates committee, and the campaign treasurer of such candidate committee or joint candidates committee, as the case may be, shall close the campaign depository or depositories of the candidate or joint candidates within one year of the candidate's or candidates' last day in public office. In closing a campaign depository under this section, all funds in the depository shall be used only for permitted purposes in accordance with section 17 of P.L.1993, c.65 (C.19:44A-11.2), and to retire any outstanding campaign obligations or liabilities.
b. The Election Law Enforcement Commission shall promulgate regulations providing for the closure of campaign depositories within one year of a candidate's or candidates' last day in public office as required by this section.
2. This act shall take effect immediately.
STATEMENT
Under current law, at N.J.S.A.19:44A-16, candidates for public office are required to file periodic contributions and expenditure reports with the Election Law Enforcement Commission (ELEC), including a report on the 20th day following the election. Along with that report, or at any time thereafter, the campaign treasurer of a candidate committee or joint candidates committee may certify to ELEC that the election fund of the candidate committee or joint candidates committee has wound up its business and been dissolved, or that business regarding the late election has been wound up but the candidate committee or joint candidates committee will continue for the deposit and use of contributions for permitted uses specified under N.J.S.A.19:44A-11.2, which include the costs of holding public office. The law requires each treasurer to continue to file reports of contributions and expenditures with ELEC until the candidate committee or joint candidates committee is dissolved.
This bill requires each candidate, or the candidates comprising a joint candidates committee, and the campaign treasurer of such candidate committee or joint candidates committee, as the case may be, to close the campaign depository or depositories of the candidate or joint candidates within one year of the candidate's or candidates' last day in public office. Under the bill, all funds in the depository account would be required to be used only for the permitted uses under N.J.S.A.19:44A-11.2, and to retire any outstanding campaign obligations or liabilities.
