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D.__Its assets do not exceed $50. |
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| The termination report must show any contributions or | expenditures made by the committee from the completion date of | the previous report to the date of termination.__If a termination | report is not filed, the committee must continue to file periodic | reports as required in this chapter. |
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| | 2.__Post-campaign reports.__A political action committee with | a surplus or deficit in excess of $50 must continue to file | reports as required in this subchapter until the surplus or | deficit is eliminated. |
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| | 3.__Disposition of surplus.__A political action committee may | dispose of a surplus exceeding $50 only by: |
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| A.__Pro rata distribution to the political action | committee's contributors; |
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| B.__A gift to a qualified political party within the State, | including any county or municipal subdivision of that party; |
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| C.__An unrestricted gift to the State; |
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| D.__Contributing to one or more candidates registered under | section 1013-A or qualified under sections 334, 336, 354 and | 355 or to political committees established to promote the | election of those candidates, provided that the amount | contributed does not exceed the contribution limits | established by section 1015; |
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| E.__Repaying any loans or retiring any debts incurred to | defray campaign expenses; or |
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| F.__Making a gift to a charitable or educational | organization that is not prohibited for tax reasons from | receiving that gift. |
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| | Sec. 39. 21-A MRSA §1062-A, sub-§2, ¶¶A and B, as enacted by PL 1995, c. | 483, §21, are amended to read: |
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| A. A valid personal emergency of the committee treasurer, | such as a personal illness or, death in the immediate family | or other personal emergency determined by the commission to | warrant waiver of the penalty in whole or in part; or |
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| B. An error by the commission staff.; or |
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| | Sec. 40. 21-A MRSA §1062-A, sub-§2, ¶C is enacted to read: |
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