The Daily Line touches on a subject that comes up once in a while, that of whether a politician can take money from his or her Political Action Committee when he or she retires.
As the years go by, the answer becomes more often, “No.”
The most experienced of those lawmakers are also eligible to take with them any campaign cash raised before June 30, 1998, to use however they want — even for personal endeavors.
A 1999 campaign finance reform law prohibited the spending of money in a political action committee on any personal pursuits for money raised after June 30, 1998. Any money that came in or political action committees formed after that date had to honor that law and could only be spent on political or governmental purposes, given away to charity or be returned to donors.
The four local politicians withe the most money in their campaign funds are
Neither Althoff nor Franks had a campaign fund on the cutoff date in the 1999 law.
On June 30, 1998, here are the totals in the other two PACs:
Income tax must be paid on any pre-June, 1998, money taken for personal purposes.