The office of treasurer is vital to an organized political committee. Under the campaign finance law, no money or anything of value can be received and no expenditures or disbursements can be made by a political committee (or any person acting under the authority of or on behalf of a political committee) while it has no treasurer.
Care must be taken when selecting a new treasurer for the political committee. There are restrictions on who may serve as the treasurer for a political committee organized in Massachusetts. Those who cannot serve as the treasurer of a political committee include:
(4) Independent Expenditure PACs. A political action committee that receives contributions to make independent expenditures is an "independent expenditure PAC." Independent expenditure PACs may receive contributions from individuals without limit, and from corporations and other entities that are otherwise prohibited from contributing to PACs pursuant to M.G.L. c. 55, § 8. Any entity that raises or solicits funds for the purpose of making a contribution to an independent expenditure PAC is an independent expenditure PAC subject to all requirements applicable to independent expenditure PACs.
(a) The required content and timing of reports filed by independent expenditure PACs is defined in 970 CMR 2.17(5). Except as indicated in 970 CMR 2.17, independent expenditure PACs are subject to all other requirements that apply to other PACs.
(b) An independent expenditure PAC makes all of its expenditures without cooperating or consulting with any political committee other than another independent expenditure PAC. If an independent expenditure PAC makes coordinated expenditures with a candidate or candidate's committee, the independent expenditure PAC becomes a traditional PAC subject to the limits on contributions that may be received or made by other PACs.
(c) An independent expenditure PAC must include the words "independent expenditure political action committee" in its name.
OCPF Regulations 970 CMR 2.17(4).