A pledge is a promise of a future monetary or in-kind contribution. All pledges are reportable in Part 2 of Schedule B. A pledge may be written or oral and for cash or in-kind contributions. Pledges are built into a contributor's aggregate contribution total. Pledges must be made for a specific amount, with every intention of the giver to pay the stated amount in its entirety, and that amount, when combined with other contributions from that contributor, may not exceed the contributor's limit.
All primary election pledges must be redeemed on or before the day of the primary election, unless the pledge recipient lost the primary election and has debt to retire. Candidates who lose the primary election and have debt can redeem a primary election pledge up to 30 days after the primary election.
A pledge made with respect to the general election may not be made or redeemed after December 31 of that election year. As is discussed on page 6, pledges and the payment of any pledges are subject to the legislative session freeze restriction and the "last minute," 21-day pre-general election restriction.
A line of credit constitutes a pledge of a loan. Report the total amount of the line of credit as a pledge. As funds are drawn or the credit is used, report the amount as a loan on the C-3 and Part 1 of the Schedule L. Reduce the outstanding pledge by the same amount. Payments to the lender (person who extended the credit) are reported as loan repayments on Schedule A and Schedule L, Part 2.
Until redeemed or cancelled, the pledge will appear on the C-4 report, Schedule B, section 2.