On August 6, 2024, Vice President Kamala Harris accepted the Democratic nomination for president and announced Governor Tim Walz as her running mate. This marked the end of the primary election period for the Harris/Walz campaign, meaning all contributions from today through the election will be attributed to the general election, as confirmed to us by representatives of the campaign.
As noted in our August 6, 2024, client alert “Contributions to Harris/Walz Campaign Are Subject to Pay-to-Play Rules,” contributions to the Harris/Walz campaign are subject to the federal pay-to-play rules. However, those rules include an exemption that permits covered individuals to contribute a de minimis amount per election to a covered official for whom they are entitled to vote, with primary and general elections treated as separate elections. Those de minimis exemptions are $350 under the Commodity Futures Trading Commission (CFTC), Financial Industry Regulatory Authority (FINRA) and Securities and Exchange Commission (SEC) rules, and $250 under the Municipal Securities Rulemaking Board (MSRB) rule. Now that the primary has concluded, covered individuals are only able to utilize the applicable de minimis exemption for the general election period if contributing to the Harris/Walz campaign.
Individual donors not subject to any federal pay-to-play rule are permitted to contribute up to $3,300 to the Harris/Walz campaign for the general election under campaign finance law.
This memorandum is provided by Skadden, Arps, Slate, Meagher & Flom LLP and its affiliates for educational and informational purposes only and is not intended and should not be construed as legal advice. This memorandum is considered advertising under applicable state laws.