Political parties and candidates for Governor shall certify to the Office of the Election Comptroller the sum of their accrued debts outstanding as of July 1 st of the year in which the general election is to be held. Such certification shall be submitted not later than July 15 th of the same year. Political parties and candidates are authorized to raise funds to repay such debt before July 1 st, even if they have opted to benefit from the Special Fund. The funds raised to repay such debts shall be deposited in a financial institution in an account separate from all other accounts of the party and candidates, and shall be used solely for such purposes; the Office of the Election Comptroller shall have access to such accounts at all times for oversight purposes. The name of the financial institution and account number shall be submitted to the Office of the Election Comptroller and the contributions and expenditures shall be included in the reports to be filed by parties and candidates with the Office of the Election Comptroller as required by this chapter. Any funds raised and reported to repay any accrued debt shall not affect the limit allowed in the Special Fund for Political Campaigns.
History —Nov. 18, 2011, No. 222, § 10.007; renumbered as § 9.007 and amended on Dec. 19, 2014, No. 233, § 71.