68A.304  Campaign property.
  1.  a.  Equipment, supplies, or other materials purchased with campaign funds or received in-kind are campaign property.
  b.  Campaign property belongs to the candidate’s committee and not to the candidate.
  c.  Campaign property that has a value of five hundred dollars or more at the time it is acquired by the committee shall be separately disclosed as committee inventory on reports filed pursuant to section 68A.402, including a declaration of the approximate current value of the property. The campaign property shall continue to be reported as committee inventory until it is disposed of by the committee or until the property has been reported once as having a residual value of less than one hundred dollars.
  d.  Consumable campaign property is not required to be reported as committee inventory, regardless of the initial value of the consumable campaign property. “Consumable campaign property”, for purposes of this section, means stationery, campaign signs, and other campaign materials that have been permanently imprinted to be specific to a candidate or election.
  2.  Upon dissolution of the candidate’s committee, a report accounting for the disposition of all items of campaign property, excluding consumable campaign property, having a residual value of one hundred dollars or more shall be filed with the board. Campaign property, excluding consumable campaign property, having a residual value of one hundred dollars or more shall be disposed of by one of the following methods:
  a.  Sale of the property at fair market value, in which case the proceeds shall be treated the same as other campaign funds.
  b.  Donation of the property under one of the options for transferring campaign funds set forth in section 68A.303.
  3.  Consumable campaign property may be disposed of in any manner by the candidate’s committee. A candidate’s committee shall not transfer consumable campaign property to another candidate without receiving fair market value compensation unless the candidate in both campaigns is the same person.
  4.  The board shall adopt rules pursuant to chapter 17A defining “fair market value” for purposes of this section.
91 Acts, ch 226, §12

93 Acts, ch 163, §38
; 95 Acts, ch 198, §17
; 2003 Acts, ch 40, §8, 9

2005 Acts, ch 72, §6, 7
; 2010 Acts, ch 1025, §4