The Cboe PAC will disburse (contribute) funds to federal candidates for Congress. The PAC can legally contribute to all Federal Committees per the FEC guidelines. Pursuant to the PAC Board and Cboe Government Relations, the PAC contributes to federal incumbents and their leadership PACs with few exceptions. The Cboe PAC will generally not contribute to a challenger in a race against an incumbent, however can choose to contribute to an open race, with special consideration given if the race is in a jurisdiction where Cboe primarily operates.
The Cboe PAC can contribute $10,000 ($5,000 for the primary and $5,000 for the general) to both U.S. Representatives (elected every 2 years) and Senators (elected every 6 years). Both leadership PACs and reelection PACs are eligible for contributions, so it is possible to give one member of congress $20,000 in a two year cycle, provided that the member is in a leadership role.
The Cboe PAC creates a budget at the beginning of each two year cycle. The budget is created with input from all Cboe Government Relations staff and consultants. The budget outline givings for the entire two year cycle, and is organized by Congressional Committee. The budget is then presented to the entire PAC Board for approval.
The budget, once Board approved, is given to accounting as reference for future check requests. Cboe PAC generally does not allot its entire budget, and reserves the right to modify or change the budget to make additional contributions. Requests for contributions come from several different sources and can coincide with a visit to the Exchange, or an event in Washington, Chicago or a destination.
Further Disbursement Information