Political Reform Act of 1974: expenditures.

The Political Reform Act of 1974 regulates the expenditure of campaign funds held by a committee. The act requires that an expenditure of campaign funds that confers a substantial personal benefit be directly related to a political, legislative, or governmental purpose. The act defines "substantial personal benefit" to mean an expenditure of campaign funds that results in a direct personal benefit with a value of more than $200 to a candidate, an elected officer, or an individual with authority to approve the expenditure of campaign funds held by a committee.