N.J. Admin. Code § 19:25-8.2B

Current through Register Vol. 56, No. 24, December 18, 2024

Section 19:25-8.2B - Transferring funds to a future election

(a) A candidate maintaining a depository account for an election that intends to seek election to any office subject to the Act in a future election may transfer the funds remaining in the depository account, and any outstanding obligations and liabilities, to a depository account for the future election, provided that the candidate is not a candidate for both elections simultaneously.

1. Upon transferring the balance to the future election, the candidate shall finalize reporting for the prior election pursuant to N.J.A.C. 19:25-8.7;

2. The transferred funds shall be reported as the opening balance for the future election; and

3. The candidate must file a new designation of depository for the future election pursuant to N.J.A.C. 19:25-4.1A or 4.2, which may be the same depository account used for the prior election.

(b) A candidate shall be considered a candidate for two elections simultaneously if the candidate receives a contribution or makes or incurs an expenditure for the future election before reporting is finalized for the prior election.

(c) A candidate for two elections simultaneously shall not transfer funds from one depository account to another depository account in excess of the contribution limit from a candidate committee to a candidate committee as provided at N.J.A.C. 19:25-11.2.

N.J. Admin. Code § 19:25-8.2B

Adopted by 56 N.J.R. 2340(a), effective 12/16/2024