Ala. Admin. Code r. 340-X-1-.06
Current through Register Vol. 43, No. 1, October 31, 2024
Section 340-X-1-.06 - Policy For Liquidation Of Campaign PropertyAla. Code § 17-5-7.2 (2015) states as follows:
(a) Except as provided in subsection (b), property purchased by or contributed to a principal campaign committee with a value of five hundred dollars ($500) or more shall be liquidated at fair market value or donated to a qualified entity pursuant to subsection (a) of Section 17-5-7 not more than 120 days following the election. Any funds generated by the liquidation of the property shall be deposited in the candidate's principal campaign committee account.(b) Property purchased by or contributed to a principal campaign committee that can be used by the person in the performance of his or her duties of the office he or she was elected to hold need not be liquidated as long as he or she holds office. The Commission considers "property...with a value of five hundred ($500) or more" to mean property with a reasonable fair market value of $500 within the 120 days following an election, not the amount paid for the property prior to that time period. The Commission presumes the following property to fall below the threshold amount required for this chapter and, therefore, not required to be liquidated or donated.
1. Campaign signs, literature, stickers, t-shirts, etc. which upon the conclusion of the campaign have nominal value at best.Ala. Admin. Code r. 340-X-1-.06
Amended by Alabama Administrative Monthly Volume XXXIV, Issue No. 10, July 29, 2016, eff. 8/12/2016.Author: Thomas B. Albritton, Director, Alabama Ethics Commission
Statutory Authority:Code of Ala. 1975, § 36-25-4(11).