Terminating Committee Law and Legal Definition

According to 11 CFR 116.1 (Title 11 - Federal Elections; Chapter I - Federal Election Commission; Subchapter A – General; Part 116 - Debts Owed By Candidates And Political Committees), terminating committee means “any political committee that is winding down its political activities in preparation for filing a termination report, and that would be able to terminate under 11 CFR 102.3 except that it has outstanding debts or obligations. A political committee will be considered to be winding down its political activities if it has ceased to make or accept contributions and expenditures, other than contributions accepted for debt retirement purposes and expenditures representing payments of debts or obligations previously incurred or payments for the costs associated with the termination of political activity, such as the costs of complying with the post election requirements of the Act, if applicable, and other necessary administrative costs associated with winding down a campaign or winding down committee activities, including office space rental, staff salaries and office supplies.”