CFR > Title 11 - Federal Elections > CHAPTER I—FEDERAL ELECTION COMMISSION > SUBCHAPTER C—BIPARTISAN CAMPAIGN REFORM ACT OF 2002—(BCRA) REGULATIONS (parts 300 to 300) > PART 300—NON-FEDERAL FUNDS > SUBPART A—National Party Committees (§300.10 to §300.13) > 300.12—Transition rules.

300.12—Transition rules.

(a) Permissible uses of excess non-Federal funds. Non-Federal funds received before November 6, 2002, by a national committee of a political party, including a national congressional campaign committee, and in its possession on that date, must be used before January 1, 2003. Subject to the restrictions in paragraph (b) of this section, such funds may be used solely as follows:
(1) To retire outstanding debts or obligations that were incurred solely in connection with an election held prior to November 6, 2002; or
(2) To pay expenses, retire outstanding debts, or pay for obligations incurred solely in connection with any run-off election, recount, or election contest resulting from an election held prior to November 6, 2002.
(b) Prohibited uses of non-Federal funds. Non-Federal funds received by a national committee of a political party, including a national congressional campaign committee, before November 6, 2002, and in its possession on that date, may not be used for the following purposes:
(1) To pay any expenditure as defined in 2 U.S.C. 431(9) ;
(2) To retire outstanding debts or obligations that were incurred for any expenditure; or
(3) To defray the costs of the construction or purchase of any office building or facility.
(c) Any non-Federal funds remaining after payment of debts and obligations permitted in paragraph (a) of this section must be either disgorged to the United States Treasury, or returned by check to the donors, no later than December 31, 2002. Any refund checks not cashed by February 28, 2003 must be disgorged to the United States Treasury by March 31, 2003.
(d) National party committee office building or facility accounts. Before November 6, 2002, a national committee of a political party, including a national congressional campaign committee, may accept funds into its party office building or facility account, established pursuant to repealed 2 U.S.C. 431(8)(B)(viii), and may use the funds in the account only for the construction or purchase of an office building or facility. After November 5, 2002, the national party committees may no longer accept funds into such an account and must not use such funds for the purchase or construction of any office building or facility. Funds on deposit in any party office building or facility account on November 6, 2002, must be either disgorged to the United States Treasury or returned by check to the donors no later than December 31, 2002. Any refund checks not cashed by February 28, 2003 must be disgorged to the United States Treasury by March 31, 2003.
(e) Application. This section also applies to:
(1) An officer or agent acting on behalf of a national party committee or a national congressional campaign committee; and
(2) An entity that is directly or indirectly established, financed, maintained, or controlled by a national party committee or a national congressional campaign committee.
(f) Treatment of Federal and non-Federal accounts during transition period. The following provisions applicable to the allocation of, and payment for, expenses between Federal and non-Federal accounts of national party committees shall remain in effect between November 6 and December 31, 2002: 11 CFR 106.5(a) ,(b), (c), (f) and (g).