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2007 SESSION

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066603366
HOUSE BILL NO. 735 Offered January 11, 2006 Prefiled January 10, 2006 A BILL to amend the Code of Virginia by adding a section numbered 24.2-905.2, relating to campaign finance; requirement to close certain candidate campaign accounts. ---------- Patron-- Jones, S.C. ---------- Referred to Committee on Privileges and Elections ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 24.2-905.2 as follows:

§ 24.2-905.2.  Requirement to close certain candidate campaign accounts.

A.  The provisions of this section apply to the candidate campaign committee of any person holding an elective office who is a candidate for a second elected office and the election for each office is subject to the provisions of this chapter.

B.  Before becoming a candidate for a second elected office, the candidate shall either (i) file a final report for his candidate committee for the elected office that he holds and close the accounts for that candidate committee or (ii) cease all activity in those candidate committee accounts except to retire any outstanding debt incurred prior to his becoming a candidate for a second elected office and to receive contributions to retire that outstanding debt.