§ 49-1446.04 — Candidate committee; loans; restrictions; civil penalty

Nebraska § 49-1446.04

• Jurisdiction: Nebraska
• Ch. 49: Law

Text

(1)
A candidate committee shall not accept more than fifteen thousand dollars
in loans prior to or during the first thirty days after formation of the candidate
committee.
(2) After the thirty-day period and until the end of the term
of the office to which the candidate sought nomination or election, the candidate
committee shall not accept loans in
an aggregate amount of more than fifty percent of the contributions of money,
other than the proceeds of loans, which the candidate committee has received
during such period as of the date of the receipt of the proceeds of the loan.
Any loans which have been repaid as of such date shall not be taken into account
for purposes of the aggregate loan limit.
(3) A candidate committee shall not pay interest, fees, gratuities,
or other sums in consideration of a loan, advance, or other extension of credit
to the candidate committee by the candidate, a member of the candidate's immediate
family, or any business with which the candidate is associated.
(4) The penalty for violation of this section shall be a civil
penalty of not less than two hundred fifty dollars and not more than the amount
of money received by a candidate committee in violation of this section if
the candidate committee received more than two hundred fifty dollars. The
commission shall assess and collect the civil penalty and shall remit the
penalty to the State Treasurer for distribution in accordance with Article
VII, section 5, of the Constitution of Nebraska.

Legislative History

Source: Laws 1995, LB 399, § 2; Laws 2005, LB 242, § 12; Laws 2006, LB 188, § 13; Laws 2013, LB79, § 7.