Code of Massachusetts Regulations
970 CMR - OFFICE OF CAMPAIGN AND POLITICAL FINANCE
Title 970 CMR 1.00 - Campaign finance activity
Section 1.05 - Loans
Universal Citation: 970 MA Code of Regs 970.1
Current through Register 1518, March 29, 2024
(1) All loans by a candidate to the political committee organized on behalf of that candidate are subject to the following:
(a) If the
candidate borrows money with interest from a banking institution in the
ordinary course of business, and if he or she lends those same funds to his
political committee, he may charge his or her committee the exact terms he or
she is being charged by the banking institution, provided however, that he or
she may do so only on the exact amount he or she has loaned to his or her
committee from funds loaned to him or her by the banking institution.
(b) If a candidate makes a loan to his or her
political committee from his or her own personal funds without having secured a
bank loan he or she may not charge his or her committee interest or any other
costs.
(2) Statutory Limitations.
(a) Candidates for any statewide office and
for the offices of state senator and state representative shall not loan, per
election, more than the following amounts to their committee:
Governor, Lieutenant Governor |
$200,000 |
Secretary of State |
$150,000 |
Treasurer |
$150,000 |
Auditor |
$150,000 |
Attorney General |
$150,000 |
State senator |
$50,000 |
State representative |
$30,000 |
(b) For
the purpose of 970 CMR 1.05, the phrase "per election" shall mean any regular
or special preliminary or primary election, or any regular or special general
election and shall include the period between the prior relevant primary or
election and the following primary or election. For example, a state senator
may loan his committee $50,000 for the period between the prior November
election and the following September primary which occurs approximately 22
months later, and loan an additional $50,000 for the period between that
September primary and the following November election.
(c) All other candidates may make loans to
their committees in unlimited amounts.
Disclaimer: These regulations may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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