TITLE 11 - FEDERAL ELECTIONS

CHAPTER I - FEDERAL ELECTION COMMISSION

SUBCHAPTER A - GENERAL

PART 100 - SCOPE AND DEFINITIONS (2 U.S.C. 431)

subpart a - GENERAL DEFINITIONS

100.33 - Personal funds.

Personal funds of a candidate means the sum of all of the following: (a) Assets. Amounts derived from any asset that, under applicable State law, at the time the individual became a candidate, the candidate had legal right of access to or control over, and with respect to which the candidate had (1) Legal and rightful title; or (2) An equitable interest; (b) Income. Income received during the current election cycle, as defined in 11 CFR 400.2, of the candidate, including: (1) A salary and other earned income that the candidate earns from bona fide employment; (2) Income from the candidate's stocks or other investments including interest, dividends, or proceeds from the sale or liquidation of such stocks or investments; (3) Bequests to the candidate; (4) Income from trusts established before the beginning of the election cycle as defined in 11 CFR 400.2; (5) Income from trusts established by bequest after the beginning of the election cycle of which the candidate is the beneficiary; (6) Gifts of a personal nature that had been customarily received by the candidate prior to the beginning of the election cycle, as defined in 11 CFR 400.2; and (7) Proceeds from lotteries and similar legal games of chance; and (c) Jointly owned assets. Amounts derived from a portion of assets that are owned jointly by the candidate and the candidate's spouse as follows: (1) The portion of assets that is equal to the candidate's share of the asset under the instrument of conveyance or ownership; provided, however, (2) If no specific share is indicated by an instrument of conveyance or ownership, the value of one-half of the property.

[68 FR 3995, Jan. 27, 2003]