November -- poll after ridiculous poll -- it has nothing to do with the potential candidates themselves. Sure, a bunch of people are toying with the idea and positioning themselves, whether Dem or Rep, but none will make the formal declaration of candidacy until they are within the range of the actual primaries.
Clark to return lecture moneyBy Jeffrey Patch - The Daily Iowan
Published: Friday, October 10, 2003
Retired Gen. Wesley Clark will return nearly $30,000 that he garnered for a Sept. 19 speech at the UI and proceeds from all other paid speeches he delivered since declaring his candidacy Sept. 17 as a result of a complaint by two UI law school students and a Kirkwood Community College student to the Federal Election Commission regarding his paid lecture.
From the "
Massachusetts Election Administration, Campaign Finance and Lobby Law Chapter 21 - Federal/State Issues" website:
<snip>
From the Federal Election Commission’s perspective, however, the political distinction between "exploring" and declaring a federal candidacy is one without a legal difference. The FEC does not recognize "exploratory committees" – only candidates and campaign committees. So, regardless of how individuals characterize themselves publicly, they need to be mindful that the FEC may consider them candidates subject to the limitations, prohibitions, and regulations of federal election law.
Under the FECA, an individual becomes a "candidate" whenever she or he, either directly or through another, has received contributions aggregating in excess of $5,000 or made expenditures aggregating in excess of $5,000. 2 U.S.C. § 431(2)(A) (1999); 11 C.F.R. § 100.3(a) (1999). Funds received and payments made for purposes of determining whether an individual should become a candidate, however, are not considered "contributions" or "expenditures" for purposes of triggering candidacy. 11 C.F.R. § 100.7(b)(1)(i) (1999). This so-called "testing the waters" exemption allows would-be candidates to accept and expend funds for activities such as polling, telephone calls, and travel without having those funds count toward the dollar thresholds for candidacy. The exemption does not apply, however, to funds received or expended for activities that clearly indicate that an individual has decided to become a candidate such as the following:
using general political advertising to publicize the individual’s intention to campaign for federal office;
conducting activities in close proximity to the election or over a protracted period of time; and
taking action to qualify for the ballot under state laws.
11 C.F.R. §§ 100.7(b)(1)(ii), 100.8(b)(1)(ii) (1999).
The "testing the waters" exemption allows truly undecided candidates to refrain from making a decision before creating a campaign committee and filing requisite disclosure forms. The exemption does not, however, allow individuals to amass substantial funds for later use without disclosing their activities to the FEC. Notwithstanding the legal prohibition of such conduct, it would be political suicide in today’s climate to stockpile millions of dollars without disclosing it until after an official announcement of candidacy.
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