Former gubernatorial candidate Josh Penry comes with a money-back guarantee.
Penry, the state Senate minority leader who left the GOP primary in November, said his campaign still must pay for legal and accounting bills, but afterward the remainder of the roughly $500,000 he raised will go back to his supporters.
“What’s left will be returned, and yes, in time for Christmas,” Penry said. “I personally don’t want to war chest it. It’s not why I asked for money.”
Already contributors who have requested refunds have been paid, and many of the checks that came in during the waning hours of Penry’s campaign went un-cashed, Penry said.
It’s too early to estimate exactly how much will go back to donors, he said.
Under Colorado law, state candidates are limited in what they can do with unused funds, said Ryan Call, legal counsel for the state GOP.
Aside from refunding the money, former candidates can donate their cash to the state party, can give it to charity or use it to fund a race in the future, he said.
Often times, candidates chose to help their political parties, Call said.
“It’s unusual for them to have a lot of unexpended funds,” Call said. “I suspect there are probably a bunch of (Penry) donors who will say ‘Use that money to further the cause.'”
Penry said he plans to disburse all remaining cash to his supporters.
Jessica Fender: 303-954-1244 or jfender@denverpost.com.
