(b) A treasurer of a petition committee organized under ORS 260.118 who expects neither the aggregate contributions to be received nor the aggregate expenditures to be made by a chief petitioner or the treasurer to exceed $3,500 in total amount during the calendar year shall file a certificate to that effect with the Secretary of State. The treasurer shall make the certificate according to the best of the knowledge or belief of the treasurer. A treasurer filing a certificate under this section is not required to file statements under ORS 260.118.

(2) A certificate described in subsection (1) of this section shall be filed:

(a) By a candidate, not sooner than the date that the candidate files a statement of organization under ORS 260.039, and not later than seven calendar days after the candidate receives a contribution or makes an expenditure.

(b) By a treasurer of a political committee, not sooner than the date that the political committee files a statement of organization under ORS 260.042, and not later than seven calendar days after the political committee receives a contribution or makes an expenditure.

(c) By a treasurer of a petition committee, not sooner than the date that the petition committee files a statement of organization under ORS 260.118, and not later than seven calendar days after the petition committee receives a contribution or makes an expenditure.

(3) A candidate, political committee or petition committee under this section must keep contribution and expenditure records during the calendar year.

(4) If at any time following the filing of a certificate under this section and during the calendar year either the aggregate contributions or aggregate expenditures exceed $3,500, the candidate or treasurer shall do all of the following:

(a) File a statement under ORS 260.057 or 260.118 within seven calendar days after either the aggregate contributions or aggregate expenditures exceed $3,500. The statement must reflect all contributions received and expenditures made by or on behalf of the candidate, political committee or petition committee to that date, beginning January 1 of the calendar year.

(b) If necessary, file additional statements under ORS 260.057 or 260.118.

(5) This section does not apply to a candidate for federal office.

(6) As used in this section, "contribution" and "expenditure" include a contribution or expenditure to or on behalf of an initiative, referendum or recall petition. [1971 c.749 §11; 1975 c.683 §9; 1977 c.644 §5; 1979 c.190 §352; 1981 c.234 §12; 1985 c.808 §56; 1987 c.727 §7; 1989 c.503 §27; 1991 c.87 §5; 1999 c.999 §22; 2005 c.797 §15; 2005 c.809 §36a; 2009 c.818 §11; 2011 c.481 §1; 2013 c.758 §7]