Campaign Committee

A principal campaign committee is an entity used by a political candidate to facilitate run for Federal office. A PCC is the committee authorized by a candidate to collect and disburse funds to promote that candidate’s election.

A candidate committee must contain the name of the candidate it supports within its name. Typically these committees have a name such as “Smith for Congress” or “Friends of Smith”. (per 11 CFR 102.14(a))

A candidate campaign committee is controlled by its registered Treasurer. The Treasurer is responsible for all interaction between the committee and the FEC, and the committee may not undertake financial transactions without a treasurer. Under federal law, the Treasurer is not personally liable for any debts incurred by the committee.

Candidate campaign committees register and file disclosure reports with the FEC. Contributions to these committees are limited and donors are disclosed. The limit for the 2012 election cycle is $2500 per election from an individual and $5000 per election from a PAC. These committees may not accept contributions from corporations, labor unions, or national banks.

A candidate must register a principal campaign committee within 15 days of becoming a candidate, under the definition determined by the FEC. Within ten days of being designated as a candidate’s principal campaign committee, the committee must file a statement of organization.

Money raised by a principal campaign committee for political purposes is exempt from income taxes. (http://www.irs.gov/charities/political/article/0,,id=175468,00.html)