Bill > HR1308

This bill, the "Let It Go Act," amends the Federal Election Campaign Act of 1971 to require individuals who are no longer candidates for federal office or have become registered lobbyists to dispose of their remaining campaign contributions or donations within a specific timeframe. The bill stipulates that contributions or donations can only be used for up to six years after the individual's most recent federal election or before they become a registered lobbyist. After this period, the remaining funds must be disposed of within 30 days, with priority given to paying any campaign-related debts, followed by returning the contributions to the original donors, making charitable donations, or transferring the funds to a political party. The bill also provides a one-year transition period for individuals who would be affected by these new requirements upon the bill's enactment.