Section 260.NEW - [Newly enacted section not yet numbered] [Operative 1/1/2027](1) At the end of an election cycle, any unexpended funds that remain in the accounts of a candidate political committee may be used only as follows:(a) To refund contributions to contributors in amounts not exceeding the aggregate contribution received from each contributor during the election cycle;(b) To make a contribution to another political committee as authorized under section 4 of this 2024 Act;(c) To transfer any amount to the Campaign Finance Education Fund established in section 5b of this 2024 Act; or(d) For purposes authorized under ORS 260.407, except that a contribution made under ORS 260.407 (1)(a)(C) must be made to an organization described in section 501(c)(3) of the Internal Revenue Code.(2) As of 60 days after the end of the applicable election cycle, a candidate political committee may not carry forward unexpended funds in excess of the following limits unless the excess unexpended funds are reported in the time and manner required by the Secretary of State by rule:(a) $10,000 for a candidate for state Representative, circuit court judge or district attorney.(b) $20,000 for a candidate for a state Senator.(c) $40,000 for a candidate for a state office that is not described in paragraphs (a) or (b) of this subsection.(d) For a candidate for any other public office, the greater of $5,000 or five cents per elector in the district of the public office.(3) A candidate political committee that has not been used to support a candidate for public office for two consecutive election cycles shall dispose of any funds carried over from a previous election cycle in accordance with subsection (1) of this section.Added by 2024 Ch. 9,§ 5a, eff. 91st day after sine die, op. 1/1/2027.