                                 CODE OF VIRGINIA

CAMPAIGN DEPOSITORIES; REIMBURSEMENTS OF EXPENSES; PETTY CASH FUND (§
24.2-947.2)

A. Upon meeting any of the requirements of subsection A of &#xA7; 24.2-947.1,
the candidate shall designate a campaign depository, which shall be maintained
in a financial institution within the Commonwealth, in an account properly
identifying the name of and the existence of the political candidacy.

B. No candidate, campaign treasurer, or other individual shall pay any expense
on behalf of a candidate, directly or indirectly, except by a check or
electronic debit drawn on such designated depository identifying the name of the
campaign committee and candidate. However, a candidate, treasurer, or other
authorized member of the candidate&#8217;s campaign staff may be reimbursed, by
a check or electronic debit drawn on the designated depository, or according to
the provisions of subsection C, for the payment of expenses (i) paid by him by
cash, check or electronic debit, or credit card, (ii) made on behalf of the
campaign, and (iii) fully documented by complete records of the expenditure,
maintained as required by this chapter, and including receipts identifying the
nature of the expenses and the names and addresses of each person paid by the
recipient of the reimbursement.

C. A campaign committee (i) may establish a petty cash fund to be utilized for
the purpose of making expenditures or reimbursing verified credit card
expenditures of less than $200 if complete records of such expenditures are
maintained as required by this chapter and (ii) may transfer funds from the
designated campaign depository to an account or instrument to earn interest on
the funds so long as the transferred funds and earned interest are returned to
the designated depository account, complete records are maintained, and all
expenditures are made through the designated depository account.

D. 1. Notwithstanding the provisions of this section pertaining to campaign
committee depositories and accounts, the campaign committee&#8217;s treasurer
may establish a separate federal compliance account in the candidate&#8217;s
designated campaign depository for the purpose of complying with requirements of
federal law including, without limitation, restrictions on sources and amounts
of campaign contributions applicable to federal candidates and officeholders.
The candidate and campaign treasurer shall report all contributions and
expenditures for an account established pursuant to this subsection on a
consolidated basis with the candidate&#8217;s campaign account established
pursuant to this section in disclosure reports filed pursuant to this article.
In addition, the treasurer may transfer funds from a federal compliance account
created pursuant to this subsection to an account or instrument to earn interest
on the funds so long as the transferred funds and earned interest are returned
to the designated depository account created pursuant to subsection A, complete
records are maintained, and all expenditures are made through the designated
depository account.

   2. A committee registered with the Federal Election Commission which is not
   otherwise required by this chapter to file with the State Board, shall not be
   deemed to have triggered such filing requirements solely by virtue of one or
   more contributions to one or more federal compliance accounts created pursuant
   to this subsection.

HISTORY: 1970, c. 462, §§ 24.1-253, 24.1-254; 1971, Ex. Sess., c. 222; 1972,
cc. 620, 622; 1975, c. 515; 1978, c. 778; 1983, c. 119; 1984, c. 480; 1993, c.
641, §§ 24.2-904, 24.2-905; 1996, cc. 217, 405; 2000, c. 326; 2001, c. 633;
2002, cc. 213, 232; 2003, cc. 248, 967, § 24.2-905.1; 2004, cc. 441, 457, 480;
2006, cc. 787, 892; 2020, c. 349.